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11908 Sand Myrtle Rd Riverview, FL 33579

4 Beds 3 Baths 2,980 sqft Built 2016

$389,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $130.54
  • 2 Days on Market
  • MLS # : T3282867
  • Updated Date : 01/03/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,980 sqft
  • Baths : 3 full
Listing Agent

Exit Bayshore Realty

Listing Agent's Description

Located in the gated community of WaterLeaf this beautiful home is located on a premium lot over looking the pond with no one directly behind you. From the community you can be in Downtown Tampa in 25 minutes via 75 to the crosstown. It is located across the street from the clubhouse, pool, playground, and trails. The garage is a tandem 3 car garage with tons of room for extra storage. Inside this home has a white and bright modern kitchen upgraded with granite counter tops, stainless steel appliances, and tile backsplash. From the kitchen you can overlook the pond while you wash the dishes or cook. The patio has sliding glass doors and is screened in allowing you to leave them open to let in the breeze. The office is downstairs off the living room which is ideal for working from home. The bedrooms are all located up stairs with a split floor plan, with a massive loft which is perfect for a pool table or playroom. This home has plenty of space for all of your needs so come check it out while you still can!

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

Zip Code: 33579

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 33579

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Summerfield Elementary School Primary Regular 870 66 3
Eisenhower Middle School Middle Regular 1,282 86 4
East Bay High School High Regular 2,330 126 4

Summerfield Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 66
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
 

$350,100$427,900$389,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,435
Property Tax -$618
Property Insurance -$210
HOA -$72
Property Management Fees -$129
CASH FLOW
-$174

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.

$389,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$16,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,317

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,2904$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 11908 Sand Myrtle Rd Riverview, FL 3
    • 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.77
    •  
  • 13218 Royal Pines Ave Riverview, FL 1
    • 5 beds 3 baths ∙ 2,923 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,923 Sqft ∙ Built 2014
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 11911 Greenchop Pl Riverview, FL 2
    • 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2017
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 11946 Sand Myrtle Rd Riverview, FL 4
    • 5 beds 3 baths ∙ 3,069 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,069 Sqft ∙ Built 2017
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.78
    •  
  • 11928 Cinnamon Fern Dr Riverview, FL 5
    • 5 beds 3 baths ∙ 3,090 Sqft ∙ Built 2018 5 beds 3 baths ∙ 3,090 Sqft ∙ Built 2018
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
PROPERTY LISTING DETAILS
Justin Hubbard
1.813.546.3726
Exit Bayshore Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282867
Last Updated: 01/03/2021
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