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13880 88th Ter Seminole, FL 33776

3 Beds 2 Baths 1,693 sqft Built 1971

$385,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $227.41
  • 2 Days on Market
  • MLS # : U8113169
  • Updated Date : 02/13/2021 at 17:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,693 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Gulf Beaches

Listing Agent's Description

You won't want to miss this 3 bedroom 2 bath 2 car garage with a pool in the heart of Seminole. This home features a large living room, split floor plan, Terrazzo floors in the bedroom, pavers in the front and backyard, a bird cage around the pool, and a circle driveway. A little TLC and this home can be your dream home! High and dry NO FLOOD INSURANCE required. LESS THAN TWO SHORT MILES to Indian Shores and our beautiful sandy beaches on the Gulf of Mexico. Water softener and hot water heater 2020. AC 2012. Roof 2005. THIS WONT LAST! Schedule your showing NOW!

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: 33776

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k364k

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

Zip Code: 33776

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052185

* 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
Bauder Elementary School Primary Regular 780 54 7
Seminole Middle School Middle Regular 1,159 68 5
Seminole High School High Regular 2,133 103 5

Bauder Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 54
7
GreatSchools Rating

Seminole Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 68
5
GreatSchools Rating

Seminole High School

  • Education Level: High
  • # of students: 2,133
  • # of teachers: 103
5
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,337
Property Tax -$484
Property Insurance -$135
Property Management Fees -$129
CASH FLOW
$145

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.

$385,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.3%
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$0.0$5.0k$10k$15k$20k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$43,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$2,0004$2,1505$2,230
$2,230
RENT COMPS ANALYSIS
  • 13880 88th Ter Seminole, FL 5
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.32
    •  
  • 13859 86th Ave Seminole, FL 1
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1969
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
  • 10126 Bahama Ct Seminole, FL 2
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1961
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.21
    •  
  • 13425 86th Ave Seminole, FL 3
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1978
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
  • 13195 Dorchester Dr Seminole, FL 4
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 1976
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
PROPERTY LISTING DETAILS
Candice Johnson
1.727.557.6311
Keller Williams Gulf Beaches
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8113169
Last Updated: 02/13/2021
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