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11157 Oceanspray Blvd Englewood, FL 34224

3 Beds 3 Baths 1,277 sqft Built 1981

$215,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $168.36
  • 10 Days on Market
  • MLS # : A4486064
  • Updated Date : 12/14/2020 at 15:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,277 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams On The Water

Listing Agent's Description

Beautiful, fully renovated, ready to move in house. Granite Countertops, tile floors, and more. Private backyard with shed. Minutes away from the beach.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Section 65

NeighborhoodNIR Market*City2018Year2016 Q32019120k130k140k150k160k170k180k190kPrice in $119k199k

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

Neighborhood: Section 65

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21150120012501300135014001450150015501600165017001750Rent in $11481755

* 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
Myakka River Elementary School Primary Regular 515 35 5
L. A. Ainger Middle School Middle Regular 775 41 6
Lemon Bay High School High Regular 1,268 62 7

Myakka River Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 35
5
GreatSchools Rating

L. A. Ainger Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 41
6
GreatSchools Rating

Lemon Bay High School

  • Education Level: High
  • # of students: 1,268
  • # of teachers: 62
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$793
Property Tax -$257
Property Insurance -$112
Property Management Fees -$129
CASH FLOW
$368

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$215,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 10.1%
Maintenance Year (1-5) 8.00%
Vacancy 3.00%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

14.08

YEARS SAVED

$57,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,041

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$750
1$7502$8503$1,3954$1,4255$1,660
$1,660
RENT COMPS ANALYSIS
  • 11157 Oceanspray Blvd Englewood, FL 5
    • 3 beds 3 baths ∙ 1,277 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,277 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.30
    •  
  • 7113 Bougainvillea St Englewood, FL 1
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1995
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $0.60
    •  
  • 7122 Sunnybrook Blvd Englewood, FL 2
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.64
    •  
  • 7009 Mamouth St Englewood, FL 3
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 26 Mariner Ln Rotonda West, FL 4
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1990
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.07
    •  
PROPERTY LISTING DETAILS
Tony Shiva
1.941.221.9779
Keller Williams On The Water
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4486064
Last Updated: 12/14/2020
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