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2217 Richwood Pike Dr Ruskin, FL 33570

5 Beds 4 Baths 2,224 sqft Built 2013

$280,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $125.90
  • 3 Days on Market
  • MLS # : T3296316
  • Updated Date : 03/20/2021 at 22:04
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,224 sqft
  • Baths : 3 full , 1 half
Listing Agent

La Rosa Realty The Elite Llc

Listing Agent's Description

We are in a multiple offer situation and requesting the highest and best by Sunday, March 21st by 5:00 pm. Last chance to view property before its gone! Showings only Sunday, 3/21 from 12p-4pm. Welcome to your dream home. A 5 Bedroom, 3 1/2 Bath, 2 Car Garage Home in the premiere neighborhood of Hawks Point. Open concept kitchen with space for a kitchenette. Your kitchen features appliances, an oven, wood cabinets, and granite countertops with extra seating available. Master Bedroom with en suite downstairs with 4 additional bedrooms upstairs. Minimal grass to cut as the outdoor area is fenced in with an amazing view to enjoy sunsets at night. Guest bathroom and separate washer/dryer closet inside the home not in the garage. Bonus space upstairs with two additional full bathrooms. The home is storm-ready with windows and shutters. Gated community with schools in walking distance. Roof and AC from 2013.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$973
Property Tax -$397
Property Insurance -$166
HOA -$80
Property Management Fees -$129
CASH FLOW
$35

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.

$280,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$21,682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,7004$1,7805$1,825
$1,825
RENT COMPS ANALYSIS
  • 2217 Richwood Pike Dr Ruskin, FL 4
    • 5 beds 4 baths ∙ 2,224 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,224 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.80
    •  
  • 907 Peregrine Hill Pl Ruskin, FL 1
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2014
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 926 Meadow Glade Dr Ruskin, FL 2
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2015
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 163 Star Shell Dr Apollo Beach, FL 3
    • 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2012
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 1909 Redmond Brook Ln Ruskin, FL 5
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2017
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.78
    •  
PROPERTY LISTING DETAILS
Jessica Martinez
1.305.747.3100
La Rosa Realty The Elite Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3296316
Last Updated: 03/20/2021
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