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1613 Redmond Brook Ln Ruskin, FL 33570

3 Beds 2 Baths 1,560 sqft Built 2017

INVESTimate

$213,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$226,100  ( +6.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $136.54
  • 7 Days on Market
  • MLS # : T3260704
  • Updated Date : 08/25/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent

Signature Realty Associates

Listing Agent's Description

This beautiful nearly NEW 3 bedroom, 2 bath home features a fabulous open floorplan, perfect for entertaining! The kitchen has a large island complete with breakfast bar that opens up to the dining room and living room. The main living area features gorgeous ceramic tile throughout. Outside the sliding glass doors you'll find an extended screened in patio to enjoy the Florida weather. The master bedroom is located just off the living room, featuring a HUGE WALK IN CLOSET! Plus en suite bathroom with a dual vanity. The beautiful front yard is well manicured with new curbing surrounding the flower beds. Hawks Landing is a quiet community nestled in the heart of Ruskin with very LOW HOA fees! Convenient to dining, schools, shopping, The Manatee Viewing Center, Apollo Beach Nature Park on Tampa Bay. Schedule your private showing today!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Ruskin

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $85k329k

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

Neighborhood: Ruskin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8781592

* 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
Cypress Creek Elementary School Primary Regular 649 60 2
Shields Middle School Middle Regular 1,474 99 2
Lennard High School High Regular 1,976 114 4

Cypress Creek Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 60
2
GreatSchools Rating

Shields Middle School

  • Education Level: Middle
  • # of students: 1,474
  • # of teachers: 99
2
GreatSchools Rating

Lennard High School

  • Education Level: High
  • # of students: 1,976
  • # of teachers: 114
4
GreatSchools Rating
 

$191,700$234,300$213,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$786
Property Tax -$460
Property Insurance -$127
HOA -$9
Property Management Fees -$80
CASH FLOW
$38

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.

$213,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.15%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,195

INVESTMENT

$62,195

Down Payment
$53,250
Rehab Estimate
$5,750
Closing Costs
$3,195

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$786

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,250
Loan Amount $159,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$19,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,502

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,374
1$1,3742$1,4483$1,4494$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 1613 Redmond Brook Ln Ruskin, 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 1433 Delano Trent St Ruskin, 1
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2006
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,374
    • $0.98
    •  
  • 1721 Broad Winged Hawk Dr Ruskin, 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2019
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,448
    • $0.94
    •  
  • 1732 Broad Winged Hawk Dr Ruskin, 3
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2019
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.93
    •  
  • 1713 Broad Winged Hawk Dr Ruskin, 5
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2019
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Elena Mejias Pa
1.813.689.3115
Signature Realty Associates
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260704
Last Updated: 08/25/2020
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