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11235 Summer Star Dr Riverview, FL 33579

3 Beds 2 Baths 1,490 sqft Built 2004

$225,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $151.01
  • 2 Days on Market
  • MLS # : T3272714
  • Updated Date : 11/02/2020 at 18:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,490 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

LOCATION LOCATION This 3 bedroom 2 bath with an office home on the cul de sac in South Fork Community oversized lot with large fenced backyard, Home has all tile and laminate wood floors throughout with stainless steel appliances. This well kept home is a great buy for first time buyers. Club house/pool walking distance. Please schedule your appointment today this home will not last long!!!

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: 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$830
Property Tax -$310
Property Insurance -$123
HOA -$30
Property Management Fees -$80
CASH FLOW
$67

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.

$225,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.64%

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$26,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,538

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4403$1,4494$1,4755$1,625
$1,625
RENT COMPS ANALYSIS
  • 11235 Summer Star Dr Riverview, FL 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.97
    •  
  • 13630 Silver Charm Ct Riverview, FL 1
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2004
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 11214 Scotchwood Dr Riverview, FL 3
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1995
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $1.06
    •  
  • 12005 Cedarfield Dr Riverview, FL 4
    • 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 11101 Whittney Chase Dr Riverview, FL 5
    • 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 2004
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.05
    •  
PROPERTY LISTING DETAILS
Vitor Coelho
1.813.545.1608
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3272714
Last Updated: 11/02/2020
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