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11004 Star Rush Pl Lakewood Ranch, FL 34202

4 Beds 2 Baths 2,143 sqft Built 2000

$399,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $186.61
  • 4 Days on Market
  • MLS # : A4491826
  • Updated Date : 02/19/2021 at 12:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,143 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Stop the Scroll!! Come get a look at this one before it is gone.. New ROOF 2019..Lakewood Ranch is one of the best-selling communities in the United States and Riverwalk Village is one of the nicest communities for homes having far more value than the prices would indicate. This home is no exception. In fact, it defines value! Offering four bedrooms in a split configuration, two full baths, a combination living room and dining room, a family room, a kitchen with a breakfast nook and breakfast bar that opens to the family room, and lovely covered and screened lanai that looks out over your beautiful back yard. You'll find tile in the wet areas, and carpet in the bedrooms and family room. Best of all, though, is the location. Close to Lakewood Ranch Main Street, UTC mall and shops, restaurants, etc., and very convenient to I-75 and SRQ airport.

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

Neighborhood: Riverwalk

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k509k

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

Neighborhood: Riverwalk

ZipNIR Market*CityMarket20102015Year20082019 Q214001600180020002200240026002800Rent in $12942926

* 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
Willis Elementary School Primary Regular 729 45 10
Nolan Middle School Middle Regular 1,130 60 7
Lakewood Ranch High School High Regular 2,299 95 7

Willis Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 45
10
GreatSchools Rating

Nolan Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 60
7
GreatSchools Rating

Lakewood Ranch High School

  • Education Level: High
  • # of students: 2,299
  • # of teachers: 95
7
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,389
Property Tax -$549
Property Insurance -$167
HOA -$8
Property Management Fees -$129
CASH FLOW
$238

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.

$399,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

8.83

YEARS SAVED

$48,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,277

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1003$2,2504$2,3955$2,480
$2,480
RENT COMPS ANALYSIS
  • 11004 Star Rush Pl Lakewood Ranch, FL 5
    • 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,143 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.16
    •  
  • 11519 Pimpernel Dr Lakewood Ranch, FL 1
    • 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,026 Sqft ∙ Built 2001
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 7156 Spikerush Ct Lakewood Ranch, FL 2
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 2000
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 7151 Spikerush Ct Lakewood Ranch, FL 3
    • 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 2000
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.11
    •  
  • 11223 Marigold Dr Lakewood Ranch, FL 4
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 1996
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.07
    •  
PROPERTY LISTING DETAILS
Randy Huberty
1.941.447.9127
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491826
Last Updated: 02/19/2021
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