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10431 55th Ct E Parrish, FL 34219

4 Beds 3 Baths 2,018 sqft Built 2013

$315,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $156.10
  • 3 Days on Market
  • MLS # : A4483165
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,018 sqft
  • Baths : 3 full
Listing Agent

Florida Suncoast Real Estate

Listing Agent's Description

Welcome to the highly desirable community of Harrison Ranch! This beautifully maintained 4 bedroom/3 bathroom pond view home has a large open concept floor plan that was designed with entertaining in mind. The spacious kitchen offers stainless steel appliances and a large closet pantry. The kitchen is open to the dining and family room making it the perfect space for family gatherings. You will love enjoying your morning coffee or afternoon cocktail on the covered patio overlooking the pond. Upgrades include luxury vinyl plank flooring throughout the entire home and new interior paint. The master bedroom has an en suite bathroom with separate soaking tub and walk in shower, a lovely pond view, and a large walk in closet. The home is equipped with hurricane shutters and an irrigation system with reclaimed water. Community amenities include a full time on site activities director, heated junior Olympic pool, 24 hour fitness center, playground, basketball and tennis courts as well as miles of serene nature trails. The Harrison Ranch Community offers easy access to I-75, dining, shopping, such as Ellenton Premium Outlets, UTC, as well as the beautiful beaches of the Gulf Coast.

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MARKET HIGHLIGHTS

  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)

PRICE & RENT TRENDS

Neighborhood: Harrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $107k409k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Harrison Ranch

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001400160018002000220024002600Rent in $11422642

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Blackburn Elementary School Primary Regular 463 33 2
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Blackburn Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 33
2
GreatSchools Rating

Buffalo Creek Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 54
5
GreatSchools Rating

Palmetto High School

  • Education Level: High
  • # of students: 2,076
  • # of teachers: 93
3
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,162
Property Tax -$329
Property Insurance -$160
HOA -$11
Property Management Fees -$80
CASH FLOW
-$22

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$22,413

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,720

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,7203$1,8004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 10431 55th Ct E Parrish, FL 2
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.85
    •  
  • 5525 106th Ave E Parrish, FL 1
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 2012
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.88
    •  
  • 5324 Lexington Dr Parrish, FL 3
    • 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2005
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 5614 106th Ave E Parrish, FL 4
    • 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 2012
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 5816 111th Ave E Parrish, FL 5
    • 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2014
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jaimie Bennett
1.941.376.2028
Florida Suncoast Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483165
Last Updated: 11/07/2020
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