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37121 Florida Ave Dade City, FL 33525

3 Beds 2 Baths 1,609 sqft Built 2020

$245,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $152.27
  • 87 Days on Market
  • MLS # : T3271082
  • Updated Date : 01/15/2021 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

King & Associates Real Estate Llc

Listing Agent's Description

Beautiful new construction near Downtown Dade City! This stylish 3 bedroom, 2 bath, 2 car garage home has so much to offer. Entering from the covered front porch, you’re welcomed into the light and bright living room, complete with ceiling fan and gorgeous plank tile flooring. The generously sized 14x11 kitchen is a chef and entertainer’s dream with all stainless steel Samsung appliances, granite counters, custom soft close wooden cabinetry and a breakfast bar with a wide open view to the dining and living room. The 16x13 master suite provides his and hers closets and an ensuite bathroom featuring walk-in shower and dual sinks with a granite counter top and soft close wood vanity. Two spacious guest bedrooms are located down the hall and a guest bathroom in-between with a tub/shower combo. All three bedrooms have new carpeting and ceiling fans, common and wet areas have plank tile flooring. Outside you can enjoy the peaceful view with no rear neighbors from the screened back porch. All of this and the peace of mind provided by a new build home with no HOA fee and a convenient Dade City location. Call us today for your private showing!

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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

Zip Code: 33525

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $55k260k

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

Zip Code: 33525

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7371590

* 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
Pasco Elementary School Primary Regular 678 52 3
Pasco Middle School Middle Regular 916 67 3
Pasco High School High Regular 1,595 93 4

Pasco Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 52
3
GreatSchools Rating

Pasco Middle School

  • Education Level: Middle
  • # of students: 916
  • # of teachers: 67
3
GreatSchools Rating

Pasco High School

  • Education Level: High
  • # of students: 1,595
  • # of teachers: 93
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$851
Property Tax -$391
Property Insurance -$130
Property Management Fees -$129
CASH FLOW
-$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$245,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 3.00%
Vacancy 5.25%
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

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$66,925

INVESTMENT

$66,925

Down Payment
$61,250
Rehab Estimate
$2,000
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,424

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4003$1,420
$1,420
RENT COMPS ANALYSIS
  • 37121 Florida Ave Dade City, FL 3
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.88
    •  
  • 36118 Markree Castle Ave Dade City, FL 1
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 2012
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 37138 Highland Bluff Cir Dade City, FL 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Mollie Ellis
1.813.377.5039
King & Associates Real Estate Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3271082
Last Updated: 01/15/2021
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