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11534 Southern Creek Dr Gibsonton, FL 33534

3 Beds 3 Baths 2,239 sqft Built 2015

INVESTimate

$249,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$269,069  ( +8.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $111.21
  • 6 Days on Market
  • MLS # : T3260877
  • Updated Date : 08/23/2020 at 21:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,239 sqft
  • Baths : 2 full , 1 half
Listing Agent

Impact Realty Tampa Bay

Listing Agent's Description

Welcome to your new home! This corner lot, 2 story beauty with lofty high ceilings has 3 bedrooms and 2.5 baths. It also offers loft space on the second level that has been pre-wired for surround sound. Built in 2015, this home has been well maintained. Central air conditioner was recently serviced and hurricane shutters convey with the property. The first level of this spacious home features tile flooring throughout, a large storage closet, half bath and an open concept- Kitchen, living/Dining Combo thats perfect for family gatherings. The dining space opens to the screen enclosed patio and the fully fenced yard.The second floor is carpeted with Tiled laundry room, masterbath and second bathroom. All three bedrooms are on the second level with a large and lovely master-suite that you must see for yourself! Dont forget about the wound for sound loft space for more relaxation space in this competitively priced home. Please view the Matterport virtual tour and dont miss out on the perfect place to call home. Buyer agent to verify room dimensions.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

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

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$919
Property Tax -$325
Property Insurance -$167
HOA -$55
Property Management Fees -$80
CASH FLOW
$55

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

$1,600

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.06%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

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 45% 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

7

YEARS SAVED

$24,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5754$1,5755$1,600
$1,600
RENT COMPS ANALYSIS
  • 11534 Southern Creek Dr Gibsonton, 5
    • 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 12114 Fern Haven Ave Gibsonton, 1
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.68
    •  
  • 12012 Citrus Leaf Dr Gibsonton, 2
    • 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 2006
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.72
    •  
  • 12109 Fern Haven Ave Gibsonton, 3
    • 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 2005
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.74
    •  
  • 12017 Fern Blossom Dr Gibsonton, 4
    • 3 beds 3 baths ∙ 2,166 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,166 Sqft ∙ Built 2007
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.73
    •  
PROPERTY LISTING DETAILS
Theresa Lorenti
1.716.799.2552
Impact Realty Tampa Bay
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260877
Last Updated: 08/23/2020
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