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2539 Clareside Dr Valrico, FL 33596

3 Beds 2 Baths 1,762 sqft Built 1996

INVESTimate

$275,000

List Price

$1,640

$1,476 - $1,804

Rent Est.

$291,363  ( +5.95%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $156.07
  • 6 Days on Market
  • MLS # : T3260793
  • Updated Date : 08/24/2020 at 12:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,762 sqft
  • Baths : 2 full
Listing Agent

Homexpress Realty, Inc.

Listing Agent's Description

You will be captivated by this spectacular home. Beautifully maintained with a newer roof (2016) and a newer ac (2017), this home is awesome! Lots of love and thought has gone into the dazzling upgrades for this 3/2/2 beauty. Once inside the home, you are welcomed with an elegant formal living room dining room combo featuring newer wood like tile flooring, leading to a grand kitchen and family room combo! The lovely kitchen offers loads of cabinet space and features QUARTZ counter tops and a new sink and a lovely faucet. The kitchen also has a breakfast bar and space for a small table. You will also discover that the kitchen has its own entrance to and from garage through the indoor laundry room. The family room is oversized and features wonderful hardwood floors and large windows for perfect natural lighting. The master suite is oversized and offers hard wood floors and a very large master bath with a tub and separate shower. The 2 guest rooms are oversized as well offering space to relax and unwind. In the back you will discover a lovely screened lanai perfect for entertaining. Close to shopping and dining, this community is loved and admired by many. Walking distance to the YMCA and elementary school. This home is ready to dazzle the pickiest of Buyers! But hurry guaranteed not to be on the market long!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

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
 

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

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,015
Property Tax -$369
Property Insurance -$139
HOA -$14
Property Management Fees -$80
CASH FLOW
$23

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

$1,640

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.95%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

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 45% 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

6.92

YEARS SAVED

$26,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6753$1,6854$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 2539 Clareside Dr Valrico, 1
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.93
    •  
  • 2216 Kenwick Dr Valrico, 2
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1994
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.98
    •  
  • 4026 Quail Briar Dr Valrico, 3
    • 4 beds 3 baths ∙ 1,564 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,564 Sqft ∙ Built 1989
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.08
    •  
  • 2526 Siena Way Valrico, 4
    • 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 1998
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 2537 Siena Way Valrico, 5
    • 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 1997
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jama Hopkins
1.813.244.8599
Homexpress Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260793
Last Updated: 08/24/2020
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