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12303 Bay Estuary Bnd Riverview, FL 33579

4 Beds 3 Baths 2,934 sqft Built 2017

$425,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $144.85
  • 3 Days on Market
  • MLS # : U8115238
  • Updated Date : 03/06/2021 at 18:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,934 sqft
  • Baths : 2 full , 1 half
Listing Agent

Engel & Volkers Madeira Beach

Listing Agent's Description

Original buyer's financing fell through!!! Over $64K in upgrades! CORNER LOT - POND VIEW - Welcome to Triple Creek! This beautiful home was built by Mattamy Homes, and this is the Miramar Floor plan. Lower level features a large wide open great room, beautiful wood flooring throughout and an abundance of natural light coming in. This home is enhanced with a study that is perfect for a home office or a hobby room. Enjoy entertaining your friends and family in the spacious kitchen and breakfast nook with a large center island. The kitchen has been upgraded with 42" level 4 cabinets, Zodiac counters, Rushmore stone knobs, crown molding, extra deep lower cabinets and microwave vented to outside. There is also a very large laundry room and half bathroom. After a long day of work you can go outside and relax on your lanai and enjoy the beautiful view of the back yard pond. Upper level has space for everyone! Large bonus area/loft 310 sq ft and has tons of flexible use options. Brand new stain resistant carpeting throughout the entire upper level. The master suite includes two generous walk-in closets an oasis-inspire master bath with a walk in shower. Three additional bedrooms are located perfectly for additional privacy. This is the last phase of homes built in this subdivision that has it's own mail box, so no walking to a bank of boxes. Amenities include community resort style pool/clubhouse, playground, basketball court, tennis court, fitness center, sports field, and dog park. Also there is an amazing 50-acre natural lake, wetland and preservation areas.

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

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
Warren Hope Dawson Elementary Primary Unknown NA
Barrington Middle School Middle Regular 1,227 70 6
East Bay High School High Regular 2,330 126 4

Warren Hope Dawson Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Barrington Middle School

  • Education Level: Middle
  • # of students: 1,227
  • # of teachers: 70
6
GreatSchools Rating

East Bay High School

  • Education Level: High
  • # of students: 2,330
  • # of teachers: 126
4
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,476
Property Tax -$585
Property Insurance -$207
HOA -$6
Property Management Fees -$129
CASH FLOW
-$193

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.

$425,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.52%

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,985
1$1,9852$2,0453$2,0504$2,1005$2,210
$2,210
RENT COMPS ANALYSIS
  • 12303 Bay Estuary Bnd Riverview, FL 5
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.75
    •  
  • 12008 Streambed Dr Riverview, FL 1
    • 5 beds 3 baths ∙ 2,584 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,584 Sqft ∙ Built 2013
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.77
    •  
  • 12036 Cardinal Flower Dr Riverview, FL 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2017
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.79
    •  
  • 12017 Cardinal Flower Dr Riverview, FL 3
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2018
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.79
    •  
  • 13218 Royal Pines Ave Riverview, FL 4
    • 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
    •  
PROPERTY LISTING DETAILS
Joanne Rabeda
1.727.512.7288
Engel & Volkers Madeira Beach
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8115238
Last Updated: 03/06/2021
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