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12521 Midpointe Dr Riverview, FL 33578

4 Beds 2 Baths 1,665 sqft Built 2000

$259,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $156.10
  • 3 Days on Market
  • MLS # : T3286136
  • Updated Date : 01/22/2021 at 18:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,665 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Welcome to your beautifully maintained and upgraded South Pointe home! As you enter the home, you are greeted by high ceilings, natural light and a beautiful waterview that sits beyond a screened in lanai. A split floor plan allows for separation between the master bedroom and secondary bedrooms. This lovely home features many upgrades throughout, such as new LVP floors (2020) installed in the living room, kitchen, bathrooms, and dining area. The master bathroom was remodeled in (2020) with an upgraded walk-in shower. The interior and exterior were painted in (2020) and the roof and A/C were both replaced in (2018). South Pointe is a conveniently located and well preserved community featuring two community pools as well as basketball courts and a playground. This home is absolutely move-in ready for you and your family. Schedule your showing today, this one won't last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: South Pointe of Tampa

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k268k

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

Neighborhood: South Pointe of Tampa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781726

* 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
Eisenhower Middle School Middle Regular 1,282 86 4
East Bay High School High Regular 2,330 126 4

Collins Elementary School

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

$233,910$285,890$259,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$903
Property Tax -$358
Property Insurance -$133
HOA -$48
Property Management Fees -$129
CASH FLOW
$179

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.

$259,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$35,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,6454$1,6755$1,750
$1,750
RENT COMPS ANALYSIS
  • 12521 Midpointe Dr Riverview, FL 5
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 12444 Midpointe Dr Riverview, FL 1
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2001
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 10227 Hunters Haven Blvd Riverview, FL 2
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2003
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 10467 Hallmark Blvd Riverview, FL 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1999
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.09
    •  
  • 10612 Cami Ct Riverview, FL 4
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 2000
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.01
    •  
PROPERTY LISTING DETAILS
Zachary Berkes
1.813.928.6257
Redfin Corporation
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286136
Last Updated: 01/22/2021
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