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11742 128th Ave Seminole, FL 33778

4 Beds 1 Baths 1,190 sqft Built 1970

$200,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $168.07
  • 3 Days on Market
  • MLS # : U8112678
  • Updated Date : 02/13/2021 at 11:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,190 sqft
  • Baths : 1 full
Listing Agent

Nexthome Gulf Coast

Listing Agent's Description

Updated 4 bedroom 1 bath BLOCK home located minutes from Walsingham Park. This turnkey home has NEW laminate floors in all common areas and new carpets in the bedrooms. Your kitchen features NEW white shaker cabinets, granite countertops and stainless steel appliances. You have a split plan with one bedroom in the front of the house and the other 3 bedrooms down the east wing of the home. Your full fenced in yard features a combination of vinyl and wood fencing. Freshly painted inside and out, this move in ready home would be the perfect Valentines present for your special someone!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$695
Property Tax -$259
Property Insurance -$105
Property Management Fees -$129
CASH FLOW
$182

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.

$200,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.4%
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

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$30,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,305
1$1,3052$1,3503$1,3704$1,5005$1,549
$1,549
RENT COMPS ANALYSIS
  • 11742 128th Ave Seminole, FL 3
    • 4 beds 1 baths ∙ 1,190 Sqft ∙ Built 1970 4 beds 1 baths ∙ 1,190 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.15
    •  
  • 13600 120th St Seminole, FL 1
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1960
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,305
    • $1.19
    •  
  • 12037 137th Ave Seminole, FL 2
    • 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 1960
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.16
    •  
  • 1583 Oak Village Dr Seminole, FL 4
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1972
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
  • 731 Lakeside Dr Largo, FL 5
    • 4 beds 2 baths ∙ 1,120 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,120 Sqft ∙ Built 1959
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.38
    •  
PROPERTY LISTING DETAILS
Joshua Neitz
1.813.546.6557
Nexthome Gulf Coast
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112678
Last Updated: 02/13/2021
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