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387 Wood Bridge Ave Tarpon Springs, FL 34689

4 Beds 3 Baths 1,957 sqft Built 2000

$300,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $153.30
  • 3 Days on Market
  • MLS # : W7830556
  • Updated Date : 02/06/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,957 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dalton Wade, Inc.

Listing Agent's Description

Move in Ready, Amazing Floor Plan and Upgraded home will not last long! This gorgeous, updated Tarpon Springs home is located in the desirable Forest Ridge Subdivision / Gated Community. This home interior features include four bedrooms, two bathrooms, laundry room, high vaulted ceilings, new Laminate Flooring, Brand New Carpeting in the Bedrooms and updated kitchen. The Master bedroom has a large Jack-and-Jill style bathroom featuring a Jacuzzi tub, separate shower, dual sink and walk in closet. Bedroom two and three are located on the other side of the home with bathroom two between them. Enjoy a decorative outdoor bar/entertainment area with an outside sink and custom Bar. Your personal tropical oasis is perfect for relaxing and/or entertaining while conveniently located to the beaches, restaurants, airports and the famous Sponge Docks. Call and schedule your private showing today. Copy and Paste Virtual Tour: https://livetour.istaging.com/43bb481f-d722-45bc-8e27-d86c7eb63fa8

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: Forest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $85k289k

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

Neighborhood: Forest Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781874

* 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
Tarpon Springs Elementary School Primary Regular 644 46 2
Tarpon Springs Middle School Middle Regular 873 46 4
Tarpon Springs High School High Magnet 1,402 69 6

Tarpon Springs Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 46
2
GreatSchools Rating

Tarpon Springs Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 46
4
GreatSchools Rating

Tarpon Springs High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 69
6
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,042
Property Tax -$384
Property Insurance -$150
HOA -$37
Property Management Fees -$129
CASH FLOW
$127

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.

$300,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$16k$18k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$33,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,7503$1,8704$1,9855$2,099
$2,099
RENT COMPS ANALYSIS
  • 387 Wood Bridge Ave Tarpon Springs, FL 3
    • 4 beds 3 baths ∙ 1,957 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,957 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.96
    •  
  • 340 Wood Chuck Ave Tarpon Springs, FL 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2000
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.83
    •  
  • 1446 Watermill Cir Tarpon Springs, FL 2
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 1055 Sawgrass Dr Tarpon Springs, FL 4
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.98
    •  
  • 1400 Poinsettia Ave Tarpon Springs, FL 5
    • 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 1997
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.93
    •  
PROPERTY LISTING DETAILS
Monica Karcz, Llc
1.813.728.1400
Dalton Wade, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830556
Last Updated: 02/06/2021
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