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15622 Starling Water Dr Lithia, FL 33547

4 Beds 2 Baths 2,408 sqft Built 2012

$374,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $155.69
  • 4 Days on Market
  • MLS # : T3281064
  • Updated Date : 12/19/2020 at 02:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,408 sqft
  • Baths : 2 full
Listing Agent

Florida Realty

Listing Agent's Description

Ready to move in 4/2/3 well maintained home with family friendly neighbors in an upscale community in Tampa Bay's most popular Fish Hawk area with an excellent public school system. The house is freshly painted interior, Granite kitchen counter top, high ceiling, ceramic tiles and wood laminate flooring throughout with no carpet. The range, hot water heater, whole house heating system, cloth dryer, all run on natural gas so, low energy cost. With a 3 car garage provide an ample space for your 2 cars and more than enough space for extra storage. The house has also has water softener, app based lawn watering sprinkler system installed. The seller includes the washer, dryer, water softener. Fish hawk community provides many amenities with multiple parks, pools, miles of walking trails and many other recreational facilities and conveniences especially the excellent public school system.

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: Fishhawk

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Fishhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052692

* 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
Stowers Elementary School Primary Regular 923 66 9
Barrington Middle School Middle Regular 1,227 70 6
Newsome High School High Regular 2,469 125 9

Stowers Elementary School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 66
9
GreatSchools Rating

Barrington Middle School

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

Newsome High School

  • Education Level: High
  • # of students: 2,469
  • # of teachers: 125
9
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,383
Property Tax -$633
Property Insurance -$176
HOA -$5
Property Management Fees -$129
CASH FLOW
-$87

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$374,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.57%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$22,995

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,258

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,2003$2,2404$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 15622 Starling Water Dr Lithia, FL 3
    • 4 beds 2 baths ∙ 2,408 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,408 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.93
    •  
  • 15713 Starling Water Dr Lithia, FL 1
    • 4 beds 2 baths ∙ 2,414 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,414 Sqft ∙ Built 2010
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.89
    •  
  • 16126 Starling Crossing Dr Lithia, FL 2
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2013
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
  • 16016 Palmettorun Cir Lithia, FL 4
    • 4 beds 4 baths ∙ 2,556 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,556 Sqft ∙ Built 2010
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 5933 Beaconpark St Lithia, FL 5
    • 4 beds 4 baths ∙ 2,566 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,566 Sqft ∙ Built 2009
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Xavier Vithayathil
1.863.409.8875
Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281064
Last Updated: 12/19/2020
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