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2608 Ridgetop Way Valrico, FL 33594

3 Beds 2 Baths 1,499 sqft Built 1981

$255,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $170.11
  • 2 Days on Market
  • MLS # : T3296443
  • Updated Date : 03/20/2021 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,499 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Beautiful opportunity to own this PRISTINE 3 bedroom, 2 bath, 1 car garage home on a .30 acre corner lot. The home opens up to a large living space that leads to the dining room and kitchen with a breakfast bar and plenty of cabinets. The dining room has sliders that opens up to a large air conditioned great room in the rear of the home. The back yard has brand new vinyl fencing enclosing the area for complete privacy to allow for entertaining guests or for your sweet pets to run around. Not to mention, there is ample amount of backyard space to add a pool if desired. Both the master bedroom and master bath, with a walk in shower were both renovated in 2019. The roof was installed in 2017. No HOA or CDD Fees. Within minutes of shops, restaurants, major grocery stores and within 15 minutes to the Brandon Town Center, conveniently located with access to I4, I75 and Selmon Expressway to downtown Tampa, Busch Gardens Tampa International Airport and the beaches.

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: East County Civic Group

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: East County Civic Group

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
Valrico Elementary School Primary Regular 821 62 8
Mulrennan Middle School Middle Regular 1,133 71 6
Durant High School High Regular 2,303 117 5

Valrico Elementary School

  • Education Level: Primary
  • # of students: 821
  • # of teachers: 62
8
GreatSchools Rating

Mulrennan Middle School

  • Education Level: Middle
  • # of students: 1,133
  • # of teachers: 71
6
GreatSchools Rating

Durant High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 117
5
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$886
Property Tax -$336
Property Insurance -$123
Property Management Fees -$129
CASH FLOW
$46

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.

$255,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.6%
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

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$23,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,453
1$1,4532$1,4953$1,5204$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 2608 Ridgetop Way Valrico, FL 3
    • 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.01
    •  
  • 916 Kirkcaldy Way Valrico, FL 1
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1983
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,453
    • $1.01
    •  
  • 539 Beth Ann St Valrico, FL 2
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1994
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 537 Beth Ann St Valrico, FL 4
    • 4 beds 2 baths ∙ 1,566 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,566 Sqft ∙ Built 1994
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 4113 Copper Canyon Blvd Valrico, FL 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1999
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
PROPERTY LISTING DETAILS
Sideara Cohen
1.727.215.9191
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3296443
Last Updated: 03/20/2021
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