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

11502 Southern Creek Dr Gibsonton, FL 33534

3 Beds 2 Baths 1,574 sqft Built 2016

$249,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $158.20
  • 3 Days on Market
  • MLS # : T3276110
  • Updated Date : 11/14/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full
Listing Agent

Insta Real Estate Solutions

Listing Agent's Description

Beautiful 3 bed 2 bath home located in the desirable community of Southgate. Situated on a corner lot with a fully fenced yard, this home is ready for it's new owners! Upon entry you are greeted with a bright foyer with 2 bedrooms and full bath located just to your left. Entering into the large open floor plan you will find this space perfect for entertaining. As a split floor plan, the master bed and bath is located off the hall and passed the laundry room. The fully fenced in backyard is great for pets and privacy. All appliances stay with the home including the water softener! Homes in this community do not last very long so don't hesitate and schedule your private tour today! All measurements and information to be verified by Buyer/Buyer's Agent

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: Concerned Citizens of Gibsonton Area

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Concerned Citizens of Gibsonton Area

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391625

* 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
Corr Elementary School Primary Regular 747 61 3
Eisenhower Middle School Middle Regular 1,282 86 4
East Bay High School High Regular 2,330 126 4

Corr Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 61
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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$919
Property Tax -$325
Property Insurance -$128
HOA -$55
Property Management Fees -$80
CASH FLOW
-$6

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.

$249,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,507

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3753$1,3994$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 11502 Southern Creek Dr Gibsonton, FL 4
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 7704 Carriage Pointe Dr Gibsonton, FL 1
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.91
    •  
  • 7940 Carriage Pointe Dr Gibsonton, FL 2
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2006
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
  • 8012 Lilly Bay Ct Gibsonton, FL 3
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.02
    •  
  • 11632 Tangle Stone Dr Gibsonton, FL 5
    • 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 2013
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
PROPERTY LISTING DETAILS
Kyle Barrilleaux
1.813.373.3015
Insta Real Estate Solutions
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276110
Last Updated: 11/14/2020
BESbswy