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10601 Opus Dr Riverview, FL 33579

3 Beds 2 Baths 1,303 sqft Built 2005

$225,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $172.68
  • 5 Days on Market
  • MLS # : T3281949
  • Updated Date : 12/24/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,303 sqft
  • Baths : 2 full
Listing Agent

Florida Executive Realty

Listing Agent's Description

This completely remodeled, 3 bed, 2 bath, 2 car garage home is in immaculate condition. This cozy sanctuary is on a fenced in corner lot that is perfectly located near the front of the community. All the big-ticket items are brand new including the A/C, Roof, Hot Water heater, dishwasher, flooring and even the fence! You can live here stress free with your family or if you are an investor add an awesome rental home to your portfolio! Stepping inside notice the open floor plan, high ceilings and the abundance of sunshine pouring right into the kitchen! The sliding glass door provides an easy entrance to your private backyard retreat! A split floor plan ensures privacy for everyone living in the home. The master bedroom has its own private bathroom and a walk-in closet, while the 2 spacious guest bedrooms share an adjoining bath. This home truly has it all! Additionally, the neighborhood has a pool with a low HOA! Southfork is located 5 minutes from South Riverview’s entertainment & shopping district & the new state of the art St. Josephs Hospital! Schedule your private tour now before you miss out on this awesome home! *** Click the virtual tour link or visit 3dHomeShowCase.com now to view the home in virtual reality! Works with Oculus Quest headset!

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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: South Fork

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: South Fork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Summerfield Crossings Elementary School Primary Regular 915 62 3
Eisenhower Middle School Middle Regular 1,282 86 4
East Bay High School High Regular 2,330 126 4

Summerfield Crossings Elementary School

  • Education Level: Primary
  • # of students: 915
  • # of teachers: 62
3
GreatSchools Rating

Eisenhower Middle School

  • Education Level: Middle
  • # of students: 1,282
  • # of teachers: 86
4
GreatSchools Rating

East Bay High School

  • Education Level: High
  • # of students: 2,330
  • # of teachers: 126
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$830
Property Tax -$310
Property Insurance -$112
HOA -$100
Property Management Fees -$129
CASH FLOW
-$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$11,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3753$1,4004$1,4255$1,449
$1,449
RENT COMPS ANALYSIS
  • 10601 Opus Dr Riverview, FL 3
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.07
    •  
  • 13630 Silver Charm Ct Riverview, FL 1
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2004
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 10910 Golden Silence Dr Riverview, FL 2
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2004
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.06
    •  
  • 10621 Opus Dr Riverview, FL 4
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.12
    •  
  • 11214 Scotchwood Dr Riverview, FL 5
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1995
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $1.06
    •  
PROPERTY LISTING DETAILS
Tommaso Bellifemine
1.201.889.4310
Florida Executive Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281949
Last Updated: 12/24/2020
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