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11556 64th Ave Seminole, FL 33772

3 Beds 3 Baths 1,649 sqft Built 1960

$315,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $191.02
  • 2 Days on Market
  • MLS # : U8104752
  • Updated Date : 11/15/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,649 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Preferred

Listing Agent's Description

Welcome home to this lovely 3BR/2.5 bath block home in Seminole! This home has it all with a split floor plan and plenty of room for entertaining! Lots of new in this home including HVAC (2019), tankless hot water heater (2020), carpeted bedrooms (2020) and polished terrazzo. The spacious backyard is just waiting for a gorgeous pool! The kitchen features stainless steel appliances, pantry and lovely built in shelving. You will love all the storage in this beautiful home including a large cedar lined closet. The open floor plan gives the living, family and Florida rooms such a nice flow. Don’t forget the mudroom and half bath for that functional transition from the garage too! The master bedroom is a large with an updated en suite bath. The second bath features a tub and it is spacious and bright. Seminole is known for its excellent schools and easy access shopping. The Gulf beaches are just minutes away as well. You get the entire Florida lifestyle with this home!

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: Bay Ridge Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k256k

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

Neighborhood: Bay Ridge Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8461803

* 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
Seminole Elementary School Primary Regular 641 45 4
Seminole Middle School Middle Regular 1,159 68 5
Seminole High School High Regular 2,133 103 5

Seminole Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 45
4
GreatSchools Rating

Seminole Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 68
5
GreatSchools Rating

Seminole High School

  • Education Level: High
  • # of students: 2,133
  • # of teachers: 103
5
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,162
Property Tax -$396
Property Insurance -$132
Property Management Fees -$80
CASH FLOW
$230

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.

$315,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$53,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6503$1,9004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 11556 64th Ave Seminole, FL 4
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
  • 10791 64th Ave Seminole, FL 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1960
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.21
    •  
  • 11160 53rd Ave N St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1956
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
  • 11422 77th Ave Seminole, FL 3
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1959
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.30
    •  
  • 11400 Walker Ave Seminole, FL 5
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1964
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.29
    •  
PROPERTY LISTING DETAILS
Kerry Travilla Bown
1.813.404.6001
Re/max Preferred
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104752
Last Updated: 11/15/2020
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