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

11350 Flora Springs Dr Riverview, FL 33579

3 Beds 3 Baths 1,561 sqft Built 2008

$225,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $144.14
  • 3 Days on Market
  • MLS # : T3277032
  • Updated Date : 11/21/2020 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,561 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dynamic

Listing Agent's Description

Welcome home! This Inland Homes “Camden” model offers 3br/2ba/2cg and 1561SF of living space. BRAND NEW ‘big ticket items’ include the AC (2020) and the WATER HEATER! The water softener and water filter have recently been replaced as well. Notable interior features include; PLANTATION SHUTTERS, NEW WATERPROOF WOOD VINYL flooring, an OPEN FLOOR PLAN, and a beautifully UPDATED eat-in kitchen. The kitchen showcases STAINLESS STEEL APPLIANCES, 42” maple cabinetry, and a pantry. The sun splashed master includes his & hers WALK-IN CLOSETS and a private en suite with double sinks and a soaking tub. You will enjoy relaxing on your charming SCREENED LANAI! This perfect little retreat overlooks the FULLY FENCED BACKYARD with plenty of space for your furry friends! South Forks offers a variety of amenities including: multiple resort style pools and spa, clubhouse, playground, basketball court, pristine picnic area and pavilion, running/walking trails with views of conservation, ponds and more! Minutes from I-75, Big Bend Rd, US 41 & 301 for easy access to Downtown Tampa, TIA, MacDill, YMCA, Manatee Viewing Center, beaches, schools, dining, and St. Josephs Hospital. Don't miss this gem of a home in this terrific community! Love where you live!

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
 

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

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 -$830
Property Tax -$411
Property Insurance -$127
HOA -$21
Property Management Fees -$80
CASH FLOW
$22

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

$1,490

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$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 50% 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

6.58

YEARS SAVED

$20,464

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
  • $0.95

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4903$1,5004$1,6005$1,675
$1,675
RENT COMPS ANALYSIS
  • 11350 Flora Springs Dr Riverview, FL 2
    • 4 beds 3 baths ∙ 1,561 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,561 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.95
    •  
  • 12005 Cedarfield Dr Riverview, FL 1
    • 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 13561 Fladgate Mark Dr Riverview, FL 3
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 2007
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 13428 Graham Yarden Dr Riverview, FL 4
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2010
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 11318 Flora Springs Dr Riverview, FL 5
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2007
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.96
    •  
PROPERTY LISTING DETAILS
Andrew Duncan
1.813.501.3939
Re/max Dynamic
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277032
Last Updated: 11/21/2020
BESbswy