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11158 Spring Point Cir Riverview, FL 33579

4 Beds 2 Baths 1,818 sqft Built 2018

$289,999

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $159.52
  • 5 Days on Market
  • MLS # : T3275604
  • Updated Date : 11/12/2020 at 14:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,818 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty S.shore

Listing Agent's Description

*LOW HOA* NO REAR NEIGHBORS* BRAND NEW EXTENDED LANAI* WELCOME HOME to this BEAUTIFUL 4BD/2BA. a Highly Desired Spacious Split Bedroom and Open layout. You will Love how this Home Shines with Upgrades throughout to include 9' ceilings, 18"X18" Tiles laid in an Elegant Diagonal Pattern in Main Areas as well as Bathrooms, Kitchen and Great Room. Kitchen has Espresso 42" Wood Cabinets, Stainless Steel GE Appliances, Plus Granite Counters. Serene Exterior Offers Fully Fenced Backyard with a covered Lanai with Pavers extended to provide plenty of room for table, chairs, and endless possibilities for entertaining and enjoyment. Lucaya Lake Club Offers Resort-Style Amenities, Palm Tree Lined Streets, a 78-acre lake the center piece of the Community, Private Beach/Dock for Kayaking/Canoeing/Paddle Boarding, Clubhouse, 24 hr Gym, Walking Trails, Playground, Splash Park, and Swimming Pool with Cabanas. Situated near Interstate-75 and minutes to Tampa, Shopping, Restaurants. PERFECT PLACE TO MAKE THE MOVE AND CALL YOUR FUTURE HOME!

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

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
Collins Elementary School Primary Regular 1,081 72 5
Rodgers Middle School Middle Regular 719 49 3
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

Rodgers Middle School

  • Education Level: Middle
  • # of students: 719
  • # of teachers: 49
3
GreatSchools Rating

Riverview High School

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

$260,999$318,999$289,999

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,070
Property Tax -$430
Property Insurance -$142
HOA -$41
Property Management Fees -$80
CASH FLOW
-$63

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.

$289,999

PROJECTED PRICE

$1,700

PROJECTED RENT

0.59%

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

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,499
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,659

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,565
1$1,5652$1,6943$1,7004$1,7005$1,790
$1,790
RENT COMPS ANALYSIS
  • 11158 Spring Point Cir Riverview, FL 4
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 11027 Holly Cone Dr Riverview, FL 1
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 2004
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.95
    •  
  • 11102 Holly Cone Dr Riverview, FL 2
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2004
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,694
    • $0.92
    •  
  • 11005 Holly Cone Dr Riverview, FL 3
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2004
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 11257 Spring Point Cir Riverview, FL 5
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2016
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kerin Clarkin
1.813.641.8300
Keller Williams Realty S.shore
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275604
Last Updated: 11/12/2020
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