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2240 New Bedford Dr Sun City Center, FL 33573

3 Beds 2 Baths 2,019 sqft Built 1994

$264,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $131.20
  • 12 Days on Market
  • MLS # : T3273826
  • Updated Date : 11/13/2020 at 17:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,019 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty S.shore

Listing Agent's Description

Welcome to this bright and airy home with a picturesque golf course view. This Buckingham model features a spacious great room with cathedral ceilings, a Florida room with large windows to feel the warmth of the sun. The galley kitchen has loads of cabinets that have been refaced, granite counters, decorative glass tile backsplash and a cheerful breakfast room to serve quick meals. The large master suite has plenty of room for king size furniture and the master bath has dual sinks, soaking tub and separate shower. Nice patio out back for grilling and a screened lanai to enjoy the outdoors. Split bedroom plan, tile floors in all wet areas, neutral colors, plumbing replaced, 2016 AC, newer hot water heater, water softener and garbage disposal. The home has been well maintained, is super clean and ready to move in. Home Owners Association is only $25.00 per year. Sun City Center is the #1 active lifestyle, adult retirement community in Florida. For just $300/person/per year, you can drive your golf cart to enjoy all the amenities of Sun City Center, including indoor and outdoor swimming pools, a large fitness center, 10 har-tru tennis courts, 2 dog parks, horseshoes, pickle ball, lawn bowling, softball for men and women, woodcarving, and 200 clubs of all types such as travel, gardening, ceramics, computer, bridge, poker, writing, big band, chorus, jazz, 10 dance clubs, a theater group, a library, and a volunteer Security Patrol. One-time Capital Funding Fee of $2,100 for new residents, paid @ Closing. Welcome to Paradise!

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

Zip Code: 33573

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $85k238k

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

Zip Code: 33573

ZipNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8781597

* 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
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$977
Property Tax -$339
Property Insurance -$154
HOA -$2
Property Management Fees -$80
CASH FLOW
$28

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.

$264,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 8.1%
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$1.0M

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$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$25,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5003$1,5804$1,650
$1,650
RENT COMPS ANALYSIS
  • 2240 New Bedford Dr Sun City Center, FL 3
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.78
    •  
  • 1212 Fordham Dr Sun City Center, FL 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1974
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 713 Elkhorn Rd Sun City Center, FL 2
    • 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1989
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 1208 Jasmine Creek Ct Sun City Center, FL 4
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2003
    property image
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nicki Kaukonen
1.813.260.0325
Keller Williams Realty S.shore
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273826
Last Updated: 11/13/2020
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