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1514 Westover Ave Parrish, FL 34219

3 Beds 3 Baths 2,220 sqft Built 2014

$359,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $162.12
  • 3 Days on Market
  • MLS # : A4487603
  • Updated Date : 01/09/2021 at 18:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,220 sqft
  • Baths : 2 full , 1 half
Listing Agent

Boyd Realty

Listing Agent's Description

Welcome home to this charming residence in the highly sought-after community of River's Reach! This open concept floor plan offers 3 spacious bedrooms, 2 1/2 baths, and a large office/den/flex space that can be utilized as a 4th bedroom if desired. The large and private master suite is located towards the back of the home with a water view while the guest bedrooms and bathrooms are located in the front. The master suite includes two walk-in closets and a large en suite with a walk in shower and double vanity. The heart of the home is perfect for both everyday living and for entertaining guests with its open layout that includes a combination living room, dining room, and super stylish kitchen. Sliding doors off of the living room will take you to your covered back porch and beautiful backyard. Plenty of room for a pool if desired! River's Reach is a gated community located off of Rye Road in Parrish. Community features include a resort style pool and spa, fitness center, kayak and canoe launch, volleyball, park, playground, and walking trails. Love where you live! Schedule your private showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,250
Property Tax -$465
Property Insurance -$172
HOA -$11
Property Management Fees -$129
CASH FLOW
$153

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.

$359,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.61%

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$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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$37,531

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,226

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1803$2,3954$2,4255$2,645
$2,645
RENT COMPS ANALYSIS
  • 1514 Westover Ave Parrish, FL 2
    • 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.98
    •  
  • 315 Gris Sky Ln Bradenton, FL 1
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2016
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 16845 Rosedown Gln Parrish, FL 3
    • 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2016
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.08
    •  
  • 15102 Trinity Fall Way Bradenton, FL 4
    • 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 2017
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.95
    •  
  • 15602 High Bell Pl Bradenton, FL 5
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2017
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,645
    • $1.05
    •  
PROPERTY LISTING DETAILS
Scott May
1.941.238.8377
Boyd Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487603
Last Updated: 01/09/2021
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