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11624 Kerry Ct Seminole, FL 33778

3 Beds 1 Baths 980 sqft Built 1989

INVESTimate

$169,000

List Price

$1,260

$1,134 - $1,386

Rent Est.

$181,523  ( +7.41%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $172.45
  • 4 Days on Market
  • MLS # : U8095450
  • Updated Date : 08/25/2020 at 19:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 980 sqft
  • Baths : 1 full
Listing Agent

Re/max Metro

Listing Agent's Description

Finally a move in ready home that is affordable! This block construction home also has an attached carport! A true 3 bedroom home, there is also a large inside laundry room (turn into a 2nd bathroom?). New carpet and paint, new refrigerator and stove all help to make this home special. The air conditioner is less than 5 years old as well as the roof to give you some peace of mind. The lot is oversized at 141 ft deep. This home is on a dead end street that is one house from the Pinellas Trail, so grab you bike and trot over to the trail to enjoy a tranquil ride, jog or walk. Very convenient mid county location. Why wait? Take a look now as this one won't last long!!

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: Ridgecrest

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $55k256k

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

Neighborhood: Ridgecrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7391803

* 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
Fuguitt Elementary School Primary Regular 609 44 3
Seminole Middle School Middle Regular 1,159 68 5
Seminole High School High Regular 2,133 103 5

Fuguitt Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 44
3
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
 

$152,100$185,900$169,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$624
Property Tax -$219
Property Insurance -$93
Property Management Fees -$80
CASH FLOW
$244

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.

$169,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.41%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,535

INVESTMENT

$50,535

Down Payment
$42,250
Rehab Estimate
$5,750
Closing Costs
$2,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$624

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,250
Loan Amount $126,750
See What Happens When You Reinvest Cash Flow

12.92

YEARS SAVED

$40,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $1,301

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,3003$1,3504$1,4255$1,500
$1,500
RENT COMPS ANALYSIS
  • 11624 Kerry Ct Seminole, 1
    • 3 beds 1 baths ∙ 980 Sqft ∙ Built 1989 3 beds 1 baths ∙ 980 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.29
    •  
  • 2511 21st Pl Sw Largo, 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972
    LEASED 04/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.30
    •  
  • 10800 Walsingham Rd Seminole, 3
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1999
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.22
    •  
  • 2642 20th Ave Sw Largo, 4
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.43
    •  
  • 2500 Fulton St Sw Largo, 5
    • 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1979
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.37
    •  
PROPERTY LISTING DETAILS
Misti Kehoe
1.727.744.1649
Re/max Metro
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8095450
Last Updated: 08/25/2020
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