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1307 Thornbury Dr Parrish, FL 34219

3 Beds 2 Baths 1,814 sqft Built 2017

$324,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $179.11
  • 4 Days on Market
  • MLS # : A4492348
  • Updated Date : 02/25/2021 at 12:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,814 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Wonderful 3 Bedroom, 2 Bathroom, 2 Car Garage Home that just turned 4 years old! Welcomed by the Front Porch and Private View of the Rye Founder's Memorial across the Street please enter into this Home's Foyer and you will notice the Open Floor Plan that Features No Carpet either Vinyl or Tile Floors, Living & Family Rooms, Indoor Utility Room, Master Suite with Walk In Closet & Private Bath with Walk in Shower, Open Kitchen with Pantry and Rear Screened Lanai with Pond View. Close to everything, yet a place where you can get away from it all, River’s Reach is a Gated Community that offers natural seclusion along the Manatee River and convenient access to shopping and dining. Located in Parrish, Florida, River’s Reach is minutes away from Bradenton and Sarasota. Featuring its own preserve area next to the Manatee River, River’s Reach also offers a resort-style pool and spa, fitness facility for residents to enjoy, picnic areas and a playground, sand volleyball court and a canoe / kayak launch into the Manatee River among other exciting amenities. Forty-nine percent of the land in this community is dedicated to open space, and when paired with the nearby river, echoes the uncomplicated lifestyle of this unique community. The Fort Hammer Park Boat Ramps are Near By for the Boating Enthusiast. CDD is part of the Annual Property Tax Bill, thus it reads CDD $2771.62 + Taxes $2748.01 / Community Requires an Ownership Transfer Fee of $125.00

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Waters Edge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $103k441k

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

Neighborhood: Waters Edge

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000210022002300240025002600Rent in $11862642

* 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
Williams Elementary School Primary Regular 911 52 6
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Williams Elementary School

  • Education Level: Primary
  • # of students: 911
  • # of teachers: 52
6
GreatSchools Rating

Buffalo Creek Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 54
5
GreatSchools Rating

Palmetto High School

  • Education Level: High
  • # of students: 2,076
  • # of teachers: 93
3
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,129
Property Tax -$460
Property Insurance -$147
HOA -$11
Property Management Fees -$129
CASH FLOW
$55

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$324,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$25,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8503$1,8754$1,9305$1,995
$1,995
RENT COMPS ANALYSIS
  • 1307 Thornbury Dr Parrish, FL 4
    • 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.06
    •  
  • 405 Gris Sky Ln Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2017
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.11
    •  
  • 15717 High Bell Pl Bradenton, FL 2
    • 4 beds 2 baths ∙ 1,767 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,767 Sqft ∙ Built 2015
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 16823 Destrehen Ct Parrish, FL 3
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2013
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.08
    •  
  • 15722 High Bell Pl Bradenton, FL 5
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 2016
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.08
    •  
PROPERTY LISTING DETAILS
Mike Bridges
1.941.316.6530
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4492348
Last Updated: 02/25/2021
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