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16721 Midsummer Ln Spring Hill, FL 34610

4 Beds 3 Baths 2,195 sqft Built 2005

$275,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $125.28
  • 5 Days on Market
  • MLS # : T3280928
  • Updated Date : 12/17/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,195 sqft
  • Baths : 3 full
Listing Agent

Better Homes And Gardens Real Estate Ellie & Assoc

Listing Agent's Description

Lovely Home - just minutes from the Suncoast Parkway off of State Road 52 in the gated community of Quail Ridge Estates. Spacious 4 bedroom, 3 full bath, 3 car garage home in quiet community with an easy drive to Gulf Beaches and Tampa International Airport. Very large lot with professionally designed edible landscaping -fruit trees galore - oranges, loquats, etc. Also blueberry bushes, pineapple trees - too many to list! Exterior was painted just 2 years ago, roof was just sealed too! New carpet in 2 bedrooms and the porch was recently screened in as well to provide even more enjoyment of the large backyard with beautiful view - no rear neighbors! This home offers a great floor plan with a 3 way split, open kitchen to family room. Also, there are No CDD fees and the highly-rated Classical Preparatory School is at the entrance of the neighborhood! You don't want to miss this one!

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: Quail Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k314k

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

Neighborhood: Quail Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7811607

* 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
Dr. Mary Giella Elementary School Primary Regular 674 50 5
Crews Lake Middle School Middle Regular 1,201 85 5
Hudson High School High Regular 1,267 82 5

Dr. Mary Giella Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 50
5
GreatSchools Rating

Crews Lake Middle School

  • Education Level: Middle
  • # of students: 1,201
  • # of teachers: 85
5
GreatSchools Rating

Hudson High School

  • Education Level: High
  • # of students: 1,267
  • # of teachers: 82
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,015
Property Tax -$308
Property Insurance -$160
HOA -$142
Property Management Fees -$129
CASH FLOW
-$83

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.

$275,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6703$1,8004$1,800
$1,800
RENT COMPS ANALYSIS
  • 16721 Midsummer Ln Spring Hill, FL 2
    • 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.76
    •  
  • 12401 Duckett Ct Spring Hill, FL 1
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2017
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 11545 Kent Grove Dr Spring Hill, FL 3
    • 3 beds 2 baths ∙ 2,376 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,376 Sqft ∙ Built 2003
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 12433 Duckett Ct Spring Hill, FL 4
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2014
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
PROPERTY LISTING DETAILS
Victoria Mcguire
1.813.526.9487
Better Homes And Gardens Real Estate Ellie & Assoc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3280928
Last Updated: 12/17/2020
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