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429 Serenity Mill Loop Ruskin, FL 33570

5 Beds 3 Baths 2,389 sqft Built 2017

$244,900

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $102.51
  • 3 Days on Market
  • MLS # : T3279033
  • Updated Date : 12/05/2020 at 15:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,389 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Florida Properties Group

Listing Agent's Description

Looking for a spacious home in a Great Community at a GREAT price? Located within the master planned community of Riverbend West, this Lennar built, single family home is the ‘Columbia’ floor plan and is nestled on a quiet street and .13 acre home site; it has a well-designed floor plan offering an excellent use of space in its 2,389 square feet. The interior boasts 5 generous sized bedrooms (4 BR on 2nd level & Master BR w/full bath on 1st level), 2 full baths, 1 half bath, bonus/flex room, family room & dining room, neutral carpet & tile throughout the home, window blinds & inside laundry room. The second floor offers 4 additional bedrooms plus a bonus/flex space that’d be perfect as a playroom, media room or office. The kitchen has plenty of cabinet space, breakfast bar with seating overlooking the dining & family room, ample counter space & a complete appliance package. The first floor Master Bedroom is 13x16 and offers a large walk-in closet and large en suite bath with a double bowl vanity & shower. The patio can be accessed through the sliding glass doors off the family room and if enlarged will provided additional space to entertain family & friends or simply relax after a long day. The backyard is partially fenced which offers sufficient privacy. The community of Riverbend West offers low HOA fees and many amenities such as a clubhouse, resort style pool, playground & dog park. It is conveniently located to Little Harbor Resort & Marina, E.G. Simmons Park, Domino Park Boat Ramp & major highways for quick travel to Apollo Beach, Tampa/St. Petersburg as well as Restaurants, Hospitals, McDill AFB & Popular Beaches to name a few. *2019 Property Tax shown includes the CDD of $2110. Needs new carpet and fresh interior paint.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ruskin

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $85k329k

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

Neighborhood: Ruskin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $8781592

* 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
Ruskin Elementary School Primary Regular 862 68 3
Shields Middle School Middle Regular 1,474 99 2
Lennard High School High Regular 1,976 114 4

Ruskin Elementary School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 68
3
GreatSchools Rating

Shields Middle School

  • Education Level: Middle
  • # of students: 1,474
  • # of teachers: 99
2
GreatSchools Rating

Lennard High School

  • Education Level: High
  • # of students: 1,976
  • # of teachers: 114
4
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$904
Property Tax -$410
Property Insurance -$175
HOA -$32
Property Management Fees -$129
CASH FLOW
-$40

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.

$244,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.2%
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$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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,774

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,7753$1,8004$1,9005$1,975
$1,975
RENT COMPS ANALYSIS
  • 429 Serenity Mill Loop Ruskin, FL 1
    • 5 beds 3 baths ∙ 2,389 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,389 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.67
    •  
  • 2253 Roanoke Springs Dr Ruskin, FL 2
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2006
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.69
    •  
  • 609 Wabash Breeze Cir Ruskin, FL 3
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 2014
    property image
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 138 Cascade Bend Dr Ruskin, FL 4
    • 5 beds 3 baths ∙ 2,505 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,505 Sqft ∙ Built 2017
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 213 Cascade Bend Dr Ruskin, FL 5
    • 6 beds 3 baths ∙ 2,550 Sqft ∙ Built 2017 6 beds 3 baths ∙ 2,550 Sqft ∙ Built 2017
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.77
    •  
PROPERTY LISTING DETAILS
Tammy Hellman
1.813.451.8159
Bhhs Florida Properties Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279033
Last Updated: 12/05/2020
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