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11303 Cocoa Beach Dr Riverview, FL 33569

4 Beds 4 Baths 2,216 sqft Built 2005

$264,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $119.54
  • 2 Days on Market
  • MLS # : T3286491
  • Updated Date : 01/24/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,216 sqft
  • Baths : 3 full , 1 half
Listing Agent

Turning Leaf Realty

Listing Agent's Description

** NEW ROOF to be installed Feb 2021! ** Offering a spacious 4 bedroom, 3 1/2 bath home in Rivercrest with bonus room/loft and office/den! You can't help but to notice the lush landscaping with the true Florida feel. Many recent upgrades include: NEW EXTERIOR PAINT, WATER HEATER, and STAINLESS STEEL APPLIANCES. Seller is also offering a $3,000 CREDIT ALLOWANCE for the new buyer to customize their upstairs flooring. Enjoy all of the benefits of the Rivercrest Community. A Montessori and elementary school, daycare, two swimming pools, recreation building along with tennis and basketball courts. Shopping, dining, grocery and St. Josephs hospital just a few minute drive away.

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: 33569

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 33569

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
Sessums Elementary School Primary Regular 951 70 6
Rodgers Middle School Middle Regular 719 49 3
Riverview High School High Regular 2,387 128 6

Sessums Elementary School

  • Education Level: Primary
  • # of students: 951
  • # of teachers: 70
6
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
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$920
Property Tax -$452
Property Insurance -$165
HOA -$11
Property Management Fees -$129
CASH FLOW
$183

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.

$264,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.2%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$35,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,839

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,7503$1,7954$1,8005$1,860
$1,860
RENT COMPS ANALYSIS
  • 11303 Cocoa Beach Dr Riverview, FL 5
    • 4 beds 4 baths ∙ 2,216 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,216 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.84
    •  
  • 11140 Running Pine Dr Riverview, FL 1
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2008
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.78
    •  
  • 11128 Running Pine Dr Riverview, FL 2
    • 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 2007
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 10504 Lakeside Vista Dr Riverview, FL 3
    • 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 2005
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 11206 Cocoa Beach Dr Riverview, FL 4
    • 4 beds 4 baths ∙ 2,216 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,216 Sqft ∙ Built 2005
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
Eddie Burton
1.813.728.3045
Turning Leaf Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286491
Last Updated: 01/24/2021
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