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11373 Cocoa Beach Dr Riverview, FL 33569

4 Beds 2 Baths 1,675 sqft Built 2005

$230,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $137.31
  • 3 Days on Market
  • MLS # : O5912395
  • Updated Date : 12/19/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,675 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Riverview one-story home offers a two-car garage. This home is vacant and cleaned regularly.

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
 

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

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$849
Property Tax -$317
Property Insurance -$134
HOA -$11
Property Management Fees -$129
CASH FLOW
$171

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

$1,610

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$700k

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 40% 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

10.25

YEARS SAVED

$39,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6103$1,7004$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 11373 Cocoa Beach Dr Riverview, FL 2
    • 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.96
    •  
  • 11354 Palm Island Ave Riverview, FL 1
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2005
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.04
    •  
  • 11441 Bay Gardens Loop Riverview, FL 3
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 11341 Coconut Island Dr Riverview, FL 4
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2005
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.03
    •  
  • 11345 Coconut Island Dr Riverview, FL 5
    • 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,728 Sqft ∙ Built 2005
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5912395
Last Updated: 12/19/2020
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