Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11228 Flora Springs Dr Riverview, FL 33579

4 Beds 2 Baths 1,832 sqft Built 2009

$230,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $125.55
  • 2 Days on Market
  • MLS # : U8105526
  • Updated Date : 11/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,832 sqft
  • Baths : 2 full
Listing Agent

Sefair Investments Inc

Listing Agent's Description

Property is currently tenant occupied on an annual lease. This home features an updated kitchen with stainless steel appliances and granite countertops. There is wood style flooring throughout which makes it easy to keep clean. The spacious master bedroom is well appointed with a large ensuite bathrom which features a garden tub and double vanities. Property is being sold “as-is” with right to inspect. It is the buyers and buyer’s agent responsibility to verify all room measurements, utilities info, lot size, schools zoning, building addition permits, building materials, along with all property information in this listing. All room measurements and dimensions are estimates. Property is currently tenant occupied on an annual lease.

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: South Fork

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: South Fork

NeighborhoodNIR 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
Summerfield Crossings Elementary School Primary Regular 915 62 3
Eisenhower Middle School Middle Regular 1,282 86 4
East Bay High School High Regular 2,330 126 4

Summerfield Crossings Elementary School

  • Education Level: Primary
  • # of students: 915
  • # of teachers: 62
3
GreatSchools Rating

Eisenhower Middle School

  • Education Level: Middle
  • # of students: 1,282
  • # of teachers: 86
4
GreatSchools Rating

East Bay High School

  • Education Level: High
  • # of students: 2,330
  • # of teachers: 126
4
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$849
Property Tax -$455
Property Insurance -$143
HOA -$21
Property Management Fees -$80
CASH FLOW
$83

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.

$230,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$27,245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6303$1,6954$1,7005$1,825
$1,825
RENT COMPS ANALYSIS
  • 11228 Flora Springs Dr Riverview, FL 2
    • 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.89
    •  
  • 13543 Fladgate Mark Dr Riverview, FL 1
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2008
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 11304 Flora Springs Dr Riverview, FL 3
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2007
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 13523 Fladgate Mark Dr Riverview, FL 4
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2008
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 13927 Chalk Hill Pl Riverview, FL 5
    • 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2008
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jeffery Wills Pa
1.727.364.1970
Sefair Investments Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8105526
Last Updated: 11/22/2020
BESbswy