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2417 Needham Dr Valrico, FL 33596

3 Beds 2 Baths 1,583 sqft Built 1996

$270,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $170.56
  • 3 Days on Market
  • MLS # : T3286237
  • Updated Date : 01/22/2021 at 10:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,583 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty South Tampa

Listing Agent's Description

OPEN HOUSE SATURDAY 12-2 AND SUNDAY 10-12 Located in desirable Bloomingdale, this beautiful home features a split floor plan and lots of open space. The kitchen allows for a dinette area, separate from a formal dining area and a large bar perfect for sitting and eating or entertaining. New Roof was installed in 2017, water heater installed in 2017. New interior and exterior paint, landscaping and fixtures were replaced throughout the house along with new fence panels. Don’t forget to check out the back yard and screened in lanai, perfect for entertaining or barbecuing. Close to shopping, restaurants and great schools.

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: Bloomingdale

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: Bloomingdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Alafia Elementary School Primary Regular 579 44 8
Burns Middle School Middle Regular 1,255 75 7
Bloomingdale High School High Regular 2,191 118 6

Alafia Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 44
8
GreatSchools Rating

Burns Middle School

  • Education Level: Middle
  • # of students: 1,255
  • # of teachers: 75
7
GreatSchools Rating

Bloomingdale High School

  • Education Level: High
  • # of students: 2,191
  • # of teachers: 118
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$938
Property Tax -$356
Property Insurance -$128
HOA -$3
Property Management Fees -$129
CASH FLOW
$136

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.

$270,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$33,409

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6504$1,6905$1,800
$1,800
RENT COMPS ANALYSIS
  • 2417 Needham Dr Valrico, FL 4
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.07
    •  
  • 2312 Millcreek Ct Valrico, FL 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1994
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.02
    •  
  • 4017 Fontana Pl Valrico, FL 2
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1991
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 2314 Lyncrest Ct Valrico, FL 3
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1994
    property image
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 4035 Quail Briar Dr Valrico, FL 5
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1989
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Kristina Trujillo
1.813.875.3700
Keller Williams Realty South Tampa
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286237
Last Updated: 01/22/2021
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