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11910 Lark Song Loop Riverview, FL 33579

4 Beds 2 Baths 1,599 sqft Built 1998

$240,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $150.09
  • 3 Days on Market
  • MLS # : T3282804
  • Updated Date : 01/02/2021 at 13:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,599 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

NO CDD - LOW HOA!! Just what the New Year Ordered! OVERSIZED LOT, Situated in the Golf Course Community of Summerfield!! This 4 bedroom, 2 bath, 2 car garage home includes a fully tiled & enclosed Florida SUNROOM! Featuring, VAULTED Ceilings, OPEN floor plan, Stylish Laminate flooring, Tile in all wet areas and Brand New Carpet in all bedrooms. The kitchen features STAINLESS STEEL Appliances, a designated built in desk & breakfast nook. The Owners suit is conveniently separated from the secondary bedrooms with private access to the beautiful florida Sunroom. The roof was replaced in 2016, AC in 2017, & Water heater in 2019. Summerfield is a Golf Course Community, featuring a Community Center, Pools, Basketball Court, playground and lots of fun in the sun!!  Conveniently located near Restaurants & Shopping with easy access to MacDill AFB, Beaches, & Entertainment.

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
 

$216,000$264,000$240,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$886
Property Tax -$331
Property Insurance -$129
HOA -$37
Property Management Fees -$129
CASH FLOW
$88

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.

$240,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.67%

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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$30,759

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
  • $1

    LIST RENT PER SQFT
  • $1,567

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4753$1,4954$1,6005$1,690
$1,690
RENT COMPS ANALYSIS
  • 11910 Lark Song Loop Riverview, FL 4
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 11717 Brenford Crest Dr Riverview, FL 1
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2004
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 13356 Prestwick Dr Riverview, FL 2
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2002
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.04
    •  
  • 12006 Hampshire Field Ct Riverview, FL 3
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 2005
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 12623 Belcroft Dr Riverview, FL 5
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2009
    property image
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.96
    •  
PROPERTY LISTING DETAILS
Christina Adams
1.813.480.2071
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282804
Last Updated: 01/02/2021
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