Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2631 Ridgetop Way Valrico, FL 33594

3 Beds 2 Baths 1,891 sqft Built 1981

$260,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $137.49
  • 5 Days on Market
  • MLS # : T3289455
  • Updated Date : 02/11/2021 at 15:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,891 sqft
  • Baths : 2 full
Listing Agent

Signature Realty Associates

Listing Agent's Description

Take a tour of this wonderful home in the established community of Brandon Ridgeland! Right in the heart of Valrico, so close to shopping and entertainment as well as quick access to SR-60, I-75, and the CrossTown! You will appreciate this home located on a quiet street! The front door features an arched window for natural light to flow into the tiled entryway! At the front of the home is a lovely dining room with a wood-slatted accent wall! Continue into the kitchen and appreciate all that it has to offer! Plenty of cabinet and counter space to prepare all of your favorite meals and breakfast bar seating! The dinette is the perfect spot for your everyday meals! You will just love the spacious family room with a cozy cabin feel featuring wood-slatted walls and ceilings and a stone stacked wood-burning fireplace with shelving! You will appreciate the convenience this space offers with additional storage and a pass-through cut out to the kitchen as well as sliding glass doors to the lanai! The master suite offers two closets, with built-in organizers, attached en-suite with walk-in shower! There is a private office at the back of the home with its own set of sliders leading out to the backyard! This home offers a split floor plan allows the other two spacious bedrooms to sit on the other side of the home with closet organizers, and share a second bathroom! Take a look at the screened and covered lanai overlooking the HUGE fully fenced backyard! This backyard is a gem with a stunning storage shed and mature oak trees with SO MUCH SPACE for kids and pets to run and play! Schedule a private tour today!

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: 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$903
Property Tax -$343
Property Insurance -$146
Property Management Fees -$129
CASH FLOW
$69

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.

$260,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.61%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$25,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5903$1,6254$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 2631 Ridgetop Way Valrico, FL 2
    • 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.84
    •  
  • 735 Grand Canyon Dr Valrico, FL 1
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2001
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 536 Beth Ann St Valrico, FL 3
    • 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 1994
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.91
    •  
  • 1644 Sand Hollow Ln Valrico, FL 4
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1993
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 1808 Erin Brooke Dr Valrico, FL 5
    • 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 1997
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brenda Wade
1.813.655.5333
Signature Realty Associates
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289455
Last Updated: 02/11/2021
BESbswy