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2349 Richwood Pike Dr Ruskin, FL 33570

3 Beds 2 Baths 1,482 sqft Built 2012

$229,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $155.13
  • 4 Days on Market
  • MLS # : W7830778
  • Updated Date : 02/13/2021 at 07:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,482 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Charming 3 bedroom, 2 bath home in the gated community of Hawks Point! Upon entering the home you are welcomed into the foyer that leads to the open concept kitchen and living space featuring high ceilings and tile floors, with sliding door access to the backyard. The kitchen features a breakfast nook, stainless steel appliances, all wood cabinets, and granite countertops with bar overlooking the family room. The primary bedroom has a large walk-in closet and en suite bathroom with walk-in shower. Outside you will enjoy the covered patio with view of the fenced backyard, a blank slate to create your perfect outdoor oasis! Located in Ruskin, this home is convenient to I75 for easy commute to Tampa, access to the beautiful gulf beaches and plenty of restaurants and shopping!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$799
Property Tax -$352
Property Insurance -$122
HOA -$80
Property Management Fees -$129
CASH FLOW
$8

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.

$229,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$15,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,508

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,448
1$1,4482$1,4903$1,5504$1,6755$1,675
$1,675
RENT COMPS ANALYSIS
  • 2349 Richwood Pike Dr Ruskin, FL 2
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.01
    •  
  • 1721 Broad Winged Hawk Dr Ruskin, FL 1
    • 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
    •  
  • 1607 Carson White Ln Ruskin, FL 3
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2006
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 902 Zone Tailed Hawk Pl Ruskin, FL 4
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2019
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.09
    •  
  • 1713 Broad Winged Hawk Dr Ruskin, FL 5
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2019
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
PROPERTY LISTING DETAILS
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830778
Last Updated: 02/13/2021
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