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302 N Miller Rd Valrico, FL 33594

3 Beds 2 Baths 1,260 sqft Built 1983

$238,900

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $189.60
  • 3 Days on Market
  • MLS # : T3286458
  • Updated Date : 01/23/2021 at 10:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

Re/max All Pros

Listing Agent's Description

This cozy 3 Bedroom/2 Bath/1 car garage nestled on a nice non-deed restricted with no HOA. Located in Valrico Florida on north of Highway 60, you will find this gem. As you enter the home you walk into the living room which then opens up into the Dining room and Kitchen. Passing through you reach the sliding glass doors that take you to the worry-free zero-scaped back yard with numerous tropical plants. 2 bedrooms share the hall bath while the master bedroom has its own quaint bathroom all to itself. The interior has been painted a soft white and new carpet and flooring will be in shortly. The home has a brand new roof as well. Please call us to set up and schedule your private showing today. Thank you

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

Zip Code: 33594

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 33594

ZipNIR 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
Mann Middle School Middle Regular 1,096 68 3
Brandon High School High Regular 1,864 116 4

Valrico Elementary School

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

Mann Middle School

  • Education Level: Middle
  • # of students: 1,096
  • # of teachers: 68
3
GreatSchools Rating

Brandon High School

  • Education Level: High
  • # of students: 1,864
  • # of teachers: 116
4
GreatSchools Rating
 

$215,010$262,790$238,900

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$830
Property Tax -$315
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
-$93

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.

$238,900

PROJECTED PRICE

$1,290

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.0%
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$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$69,059

INVESTMENT

$69,059

Down Payment
$59,725
Rehab Estimate
$5,750
Closing Costs
$3,584

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,725
Loan Amount $179,175
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,292

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,3503$1,4454$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 302 N Miller Rd Valrico, FL 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.02
    •  
  • 3120 Summer House Dr Valrico, FL 2
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2003
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 1903 Ellington Ct Valrico, FL 3
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1993
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.01
    •  
  • 520 Center Point Rd Valrico, FL 4
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1995
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
  • 422 Benson St Valrico, FL 5
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1991
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Melanie Norris
1.813.399.6420
Re/max All Pros
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286458
Last Updated: 01/23/2021
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