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11007 Springridge Dr Tampa, FL 33624

3 Beds 3 Baths 1,429 sqft Built 1985

$270,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $188.94
  • 2 Days on Market
  • MLS # : T3273357
  • Updated Date : 11/07/2020 at 22:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,429 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Take a look at this updated 3 bedroom, 2.5 bathroom bungalow located in the Greater Carrollwood area! Your new home comes with a new roof and energy saving windows installed this year. The living room and dining room have an open concept overlooked by a beautiful kitchen with granite counter tops and stainless steel appliances. A spindle staircase leads to the upstairs where a spacious master bedroom with a walk in closet awaits. The backyard has a lovely deck and a garden wall as well! This home is nestled in a neighborhood filled with amenities including two swimming pools, a clubhouse, playgrounds, and several different sports facilities for baseball, basketball, volleyball and tennis! This home is centrally located in Tampa and is a short driving distance from Schools, Hospitals, Restaurants, Grocery stores and several malls. It is also close to Tampa International Airport and the Veterans Express Way, which provides a convenient commute to downtown Tampa or even to visit Florida’s amazing beaches! Don't miss out on this opportunity and come see this home before it's too late!

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: Plantation

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $79k238k

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

Neighborhood: Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781613

* 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
Cannella Elementary School Primary Regular 727 54 6
Pierce Middle School Middle Regular 977 66 3
Leto High School High Magnet 1,971 108 4

Cannella Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 54
6
GreatSchools Rating

Pierce Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 66
3
GreatSchools Rating

Leto High School

  • Education Level: High
  • # of students: 1,971
  • # of teachers: 108
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$996
Property Tax -$332
Property Insurance -$119
HOA -$72
Property Management Fees -$80
CASH FLOW
-$69

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.

$270,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$15,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5303$1,6004$1,6495$1,700
$1,700
RENT COMPS ANALYSIS
  • 11007 Springridge Dr Tampa, FL 2
    • 3 beds 3 baths ∙ 1,429 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,429 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.07
    •  
  • 10771 Glen Ellen Dr Tampa, FL 1
    • 3 beds 3 baths ∙ 1,349 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,349 Sqft ∙ Built 1984
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.11
    •  
  • 11327 Calgary Cir Tampa, FL 3
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1995
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 11119 Bramblebrush St Tampa, FL 4
    • 4 beds 2 baths ∙ 1,611 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,611 Sqft ∙ Built 1993
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.02
    •  
  • 5128 Springwood Dr Tampa, FL 5
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1982
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jesus Martinez
1.813.574.9914
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273357
Last Updated: 11/07/2020
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