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10624 Navigation Dr Riverview, FL 33579

3 Beds 2 Baths 1,261 sqft Built 2004

$220,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $174.46
  • 2 Days on Market
  • MLS # : T3279584
  • Updated Date : 12/12/2020 at 16:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,261 sqft
  • Baths : 2 full
Listing Agent

Selling Tampa Bay, Llc

Listing Agent's Description

** To view this home virtually, use the VIRTUAL TOUR LINK!! ** Beautiful 3/2 home sitting located on a cul-de-sac of the Panther Trace community in the heart of Riverview. Close to restaurants, shopping and main highways, this home has been upgraded with a custom kitchen renovation that opens up the main living space. Updates include: quartz countertop, farm style kitchen sink, stainless steel appliances, custom cabinetry, brass finishings and hardwood floors throughout. The backyard is fully secured with a beautiful wood privacy fence. Schedule your showing for this home before it's gone!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Panther Trace

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: Panther Trace

ZipNIR 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
Collins Elementary School Primary Regular 1,081 72 5
Barrington Middle School Middle Regular 1,227 70 6
Riverview High School High Regular 2,387 128 6

Collins Elementary School

  • Education Level: Primary
  • # of students: 1,081
  • # of teachers: 72
5
GreatSchools Rating

Barrington Middle School

  • Education Level: Middle
  • # of students: 1,227
  • # of teachers: 70
6
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 128
6
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$812
Property Tax -$303
Property Insurance -$109
HOA -$4
Property Management Fees -$129
CASH FLOW
$13

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.

$220,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 4.5%
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$12k

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$21,220

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,390

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3953$1,4004$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 10624 Navigation Dr Riverview, FL 1
    • 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.09
    •  
  • 12404 Hawkeye Point Pl Riverview, FL 2
    • 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 2003
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 12427 Dawn Vista Dr Riverview, FL 3
    • 4 beds 2 baths ∙ 1,280 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,280 Sqft ∙ Built 1998
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.09
    •  
  • 10613 Navigation Dr Riverview, FL 4
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2003
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
  • 10309 Avelar Ridge Dr Riverview, FL 5
    • 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,451 Sqft ∙ Built 2006
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
PROPERTY LISTING DETAILS
Pat Lyman
1.518.391.0611
Selling Tampa Bay, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279584
Last Updated: 12/12/2020
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