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3201 Summer Cruise Dr Valrico, FL 33594

3 Beds 2 Baths 1,501 sqft Built 2004

INVESTimate

$249,900

List Price

$1,430

$1,287 - $1,573

Rent Est.

$267,493  ( +7.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $166.49
  • 2 Days on Market
  • MLS # : T3261259
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,501 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Beautiful Single Family Home that is ready for a new owner! Lighter paint throughout, perfect to compliment any home decor. All appliances including front loading WASHER & DRYER! TILE THROUGHOUT, NO CARPET, LESS MAINTENANCE. PLENTY of KITCHEN CABINETS. FRENCH DOORS with BUILT-IN BLINDS open to beautiful BRICK PATIO for entertaining and PLENTY of room for your patio furniture. COMPLETELY FENCED for added privacy! FRONT PORCH as well! Custom closet in the PRIMARY BEDROOM for added storage. INTERIOR laundry area off the kitchen. CONVENIENTLY located near I-75 towards Tampa or beyond. Minutes from the BRANDON MALL, schools, hospitals and quite a selection of restaurants. COMMUNITY POOL, mini park area, basketball court for your enjoyment. DO NOT WAIT......this one will not last!

SEE MORE

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

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
Nelson Elementary School Primary Regular 838 60 5
Mulrennan Middle School Middle Regular 1,133 71 6
Durant High School High Regular 2,303 117 5

Nelson Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 60
5
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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$922
Property Tax -$329
Property Insurance -$124
HOA -$66
Property Management Fees -$80
CASH FLOW
-$91

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.

$249,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.04%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,497

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4303$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 3201 Summer Cruise Dr Valrico, 2
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.95
    •  
  • 3112 Summer House Dr Valrico, 1
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 2003
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 506 Sunset Beach Ct Valrico, 3
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 2001
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 3124 Summer House Dr Valrico, 4
    • 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,507 Sqft ∙ Built 2002
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 1186 Emerald Hill Way Valrico, 5
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2006
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Evelyn Gutierrez
1.813.409.1370
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261259
Last Updated: 08/26/2020
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