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3706 Lithia Ridge Blvd Valrico, FL 33596

4 Beds 3 Baths 2,414 sqft Built 1988

$415,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $171.91
  • 4 Days on Market
  • MLS # : T3283415
  • Updated Date : 01/07/2021 at 18:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,414 sqft
  • Baths : 2 full , 1 half
Listing Agent

Green Star Realty, Inc.

Listing Agent's Description

Gorgeous pool home with a BIG yard, located in the peaceful community of Lithia Ridge. This 4 bedroom, 2.5 bathroom, plus office, home is loaded with updates and smart home features. New AC just installed in April 2020! New Zoller Septic installed March 2020 and the water heater was just replaced in 2017. There are new ceiling fans and smoke detectors throughout the home, as well as LED lights, so no bulb replacement. Washer and Dryer are included and are Maytag 2019 front loading. The new, digital Ecobee thermostat, exterior lights, and sprinkler system are all smart home or wifi cell phone compatible. The bright kitchen is a dream and has beautiful custom cabinets with an abundance of storage space, granite countertops, and stainless steel energy star appliances. The RO water filter for sink and ice maker mean no need for bottled water! The center island with sink also has a breakfast bar and overlooks the spacious family room and brick front fireplace. The owner’s retreat features a huge walk-in closet with custom storage shelves, dual sink vanity, garden tub, and big walk-in shower. All bathrooms, including plumbing were just recently remodeled and also include new water saving toilets! There are French doors that lead from the family room, living room, and owner’s retreat, to the screened in lanai, pool, and spa. The pool heater and spa blower motor were both replaced in 2017. The backyard includes a newly fenced area, extended out for maximum yard usage. There are many types of fruit trees! Meyer lemon, banana, sour orange, guava, figs, papaya, berries, and pineapple! Lithia Ridge is a quiet park-like community with access to A rated schools, no CDD fees and has low annual HOA dues. Come and check out this spectacular home before it’s gone!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lithia Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Lithia Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052692

* 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
Lithia Springs Elementary School Primary Regular 597 47 8
Randall Middle School Middle Regular 1,345 76 9
Newsome High School High Regular 2,469 125 9

Lithia Springs Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 47
8
GreatSchools Rating

Randall Middle School

  • Education Level: Middle
  • # of students: 1,345
  • # of teachers: 76
9
GreatSchools Rating

Newsome High School

  • Education Level: High
  • # of students: 2,469
  • # of teachers: 125
9
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,441
Property Tax -$547
Property Insurance -$177
HOA -$27
Property Management Fees -$129
CASH FLOW
-$131

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$415,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,185

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1904$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3706 Lithia Ridge Blvd Valrico, FL 3
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.91
    •  
  • 4008 Canter Ct Valrico, FL 1
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 1994
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.89
    •  
  • 3819 Triple Jump St Valrico, FL 2
    • 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 1998
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 5141 Fairway One Dr Valrico, FL 4
    • 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 1992
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
  • 4704 Ranch Grove Ct Valrico, FL 5
    • 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,612 Sqft ∙ Built 1997
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
PROPERTY LISTING DETAILS
Levi Stubbs
1.813.598.6841
Green Star Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3283415
Last Updated: 01/07/2021
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