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11188 Spring Point Cir Riverview, FL 33579

4 Beds 3 Baths 2,766 sqft Built 2017

$365,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $131.96
  • 2 Days on Market
  • MLS # : T3287658
  • Updated Date : 01/31/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,766 sqft
  • Baths : 2 full , 1 half
Listing Agent

Spartan Group Realty Inc

Listing Agent's Description

Welcome to this pristine 4 bedroom, 2.5 half bath home located in the sought-after Lucaya Lake Club. When entering into 11188 Spring Point, you will immediately feel like you are at home. With 4 bedrooms, 2 and a half baths, expansive floorplan with large L-shaped patio and large yard, you will enjoy a perfect setting for relaxing and entertaining. On the second floor, the laundry room is spacious, and bedrooms are very generous in size. The Master bedroom is enormous, and has room for a Sitting Area, and includes 2 walk-in closets. In this home, all you have to do is move in and enjoy the Sunset Views. The neighborhood includes a gorgeous club house with scheduled classes and Life Style Director, pool and park playground where the little ones can play until they are tuckered out. Welcome to Lucaya Lake Club,

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,268
Property Tax -$622
Property Insurance -$197
HOA -$45
Property Management Fees -$129
CASH FLOW
-$172

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.

$365,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.57%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,095

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$2,0904$2,1005$2,175
$2,175
RENT COMPS ANALYSIS
  • 11188 Spring Point Cir Riverview, FL 3
    • 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.76
    •  
  • 11003 Stone Branch Dr Riverview, FL 1
    • 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2004
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 12505 Burgess Hill Dr Riverview, FL 2
    • 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2005
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 12507 Burgess Hill Dr Riverview, FL 4
    • 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 2005
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
  • 11143 Abaco Island Ave Riverview, FL 5
    • 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 2017
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.83
    •  
PROPERTY LISTING DETAILS
Renee Thompson
1.813.321.9149
Spartan Group Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287658
Last Updated: 01/31/2021
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