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12422 Fairlawn Dr Riverview, FL 33579

4 Beds 3 Baths 2,139 sqft Built 2013

$289,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $135.11
  • 7 Days on Market
  • MLS # : T3286610
  • Updated Date : 01/26/2021 at 17:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,139 sqft
  • Baths : 3 full
Listing Agent

Weichert Realtors Yates& Assoc

Listing Agent's Description

Beautiful 4 Bedroom, 3 Bathroom home in Panther Trace, a community located in Riverview! This property is wonderfully maintained with plenty of room. The front of the house has a spacious porch big enough for seating and enjoying sunrises and sunsets. As you walk in through the front door, you are met with gorgeous ceramic tile throughout the living room, with ceiling fans and plenty of shelving. The living room flows right into the kitchen, divided by a sliding barn door for privacy! The kitchen has stone countertops and dark wood cabinets for plenty of storage space. Stainless steel appliances accent the kitchen along with a beautiful tile backsplash. The kitchen leads right to the Great Room, and from the Great Room, a view of the fenced backyard can be seen through the sliding glass doors. Privacy is included with this split bedroom floor plan. The master bedroom is spacious and leads into the master bathroom with a standing shower and separate soaking tub. Other bathrooms are easily accessible from the other bedrooms and also have stone countertops. The home has already installed solar panels with a 22-year warranty. Panther Trace is a desirable community located in Riverview and is close to shopping, entertainment, Downtown Tampa, and many other amenities. Don't delay. Make your appointment to see this home today!

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: Panther Trace

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: Panther Trace

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
Collins Elementary School Primary Regular 1,081 72 5
Barrington Middle School Middle Regular 1,227 70 6
Riverview High School High Regular 2,387 128 6

Collins Elementary School

  • Education Level: Primary
  • # of students: 1,081
  • # of teachers: 72
5
GreatSchools Rating

Barrington Middle School

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

Riverview High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 128
6
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,004
Property Tax -$428
Property Insurance -$161
HOA -$4
Property Management Fees -$129
CASH FLOW
-$36

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.

$289,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 4.5%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,280

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$1,7104$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 12422 Fairlawn Dr Riverview, FL 2
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.79
    •  
  • 12903 Brant Tree Dr Riverview, FL 1
    • 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,087 Sqft ∙ Built 1998
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 12309 Fairlawn Dr Riverview, FL 3
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 2013
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.84
    •  
  • 12504 Belcroft Dr Riverview, FL 4
    • 5 beds 3 baths ∙ 2,248 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,248 Sqft ∙ Built 2009
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.79
    •  
  • 12662 Belcroft Dr Riverview, FL 5
    • 5 beds 3 baths ∙ 2,310 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,310 Sqft ∙ Built 2012
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Youline Silgnena
1.941.448.3821
Weichert Realtors Yates& Assoc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286610
Last Updated: 01/26/2021
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