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11308 Palm Island Ave Riverview, FL 33569

3 Beds 2 Baths 1,446 sqft Built 2005

$217,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $150.07
  • 2 Days on Market
  • MLS # : U8111608
  • Updated Date : 01/30/2021 at 20:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,446 sqft
  • Baths : 2 full
Listing Agent

Realty Experts Associates

Listing Agent's Description

Don't miss this 3 Bedroom, 2 Bath and 2 car garage cozy home with beautiful pond View. Enjoy then open concept floorpan with kitchen island. Enjoy the community Rec. Center, Tennis Courts, Community Heated Pool, Tot Pool and playground. Dont miss this fabulous home in the beautiful neighborhood of Rivercrest.

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: 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
 

$195,300$238,700$217,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$754
Property Tax -$299
Property Insurance -$120
HOA -$11
Property Management Fees -$129
CASH FLOW
$177

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.

$217,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.69%

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$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$14k$16k

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$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$32,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4853$1,4904$1,4995$1,550
$1,550
RENT COMPS ANALYSIS
  • 11308 Palm Island Ave Riverview, FL 3
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.03
    •  
  • 10222 Lakeside Vista Dr Riverview, FL 1
    • 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
  • 11133 Lakeside Vista Dr Riverview, FL 2
    • 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.11
    •  
  • 10310 Lakeside Vista Dr Riverview, FL 4
    • 4 beds 3 baths ∙ 1,462 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,462 Sqft ∙ Built 2005
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.03
    •  
  • 11360 Cocoa Beach Dr Riverview, FL 5
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2005
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jennifer Mcdonnell
1.727.247.2896
Realty Experts Associates
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8111608
Last Updated: 01/30/2021
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