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10853 Hoffner Edge Dr Riverview, FL 33579

3 Beds 3 Baths 2,422 sqft Built 2003

$279,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $115.57
  • 5 Days on Market
  • MLS # : T3281188
  • Updated Date : 12/23/2020 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,422 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Located in the Westlake community of Summerfield, this 3 Bed + 2 1/2 Baths + Loft + Office-Den home has an open floorplan, neutral finishes, and newer roof and solar. Starting at the front door, step into the open and airy Living and Dining areas that flow into the Great Room and Eat-In Kitchen. The Kitchen has lots of wood cabinets and counter space, a closet pantry, and an island. Right off this area is a half-bath for convenience. All this overlooks the Great Room with sliders to the open patio with pavers and fenced backyard for privacy. Head upstairs and into the large loft area, with lots of storage, and separates the remaining bedrooms and baths for privacy. The Master Bedroom has a walk-in closet plus a bath with dual sinks, a walk-in shower, and a large soaking tub. In addition to the secondary bedrooms and bath on the second floor, there is also an Office-Den with built-ins and double doors for privacy which can also be made into a 4th Bedroom. The upstairs floorplan is completed with a full laundry room with plenty of space for additional storage. Active and social lifestyles can enjoy the Summerfield amenities that include 2 community pools, fitness center, gymnasium, tennis courts, volleyball court, and playground. Thank you for taking the time to see this home in person.

SEE MORE

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

Zip Code: 33579

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 33579

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
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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,033
Property Tax -$385
Property Insurance -$177
HOA -$38
Property Management Fees -$129
CASH FLOW
-$22

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.

$279,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$21,977

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7403$1,7954$1,9005$1,925
$1,925
RENT COMPS ANALYSIS
  • 10853 Hoffner Edge Dr Riverview, FL 2
    • 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.72
    •  
  • 10906 Hoffner Edge Dr Riverview, FL 1
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2004
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 11013 Sailbrooke Dr Riverview, FL 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2001
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 12832 Hampton Hill Dr Riverview, FL 4
    • 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 2006
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 10912 Sailbrooke Dr Riverview, FL 5
    • 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 1998
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.77
    •  
PROPERTY LISTING DETAILS
Raymond Chadderton
1.813.684.9500
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281188
Last Updated: 12/23/2020
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