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4618 River Hills Dr Tampa, FL 33617

4 Beds 2 Baths 2,324 sqft Built 1966

$335,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $144.15
  • 7 Days on Market
  • MLS # : T3277896
  • Updated Date : 12/01/2020 at 12:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,324 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Classic Temple Terrace Ranch on 1.44 acres on River Hills Drive is a gem. Live the Old Florida life style close to the City of Tampa and across the street from the Hillsborough River in this 3 Bedroom, 2 Bath Ranch home with Basement offering air conditioned Bonus/Flex space + 2 Car Tandem side-load Garage including lots of extra storage space in the basement. Home and downstairs Bonus/Flex Space offers 2,324 sq.ft. There's 1,167 sq.ft. of unfinished basement which includes the Laundry Area, Workshop, Storage closet and Tandem 2-Car Garage. Laundry is located in the basement – Washer/Dryer included. You’ll notice the charming brick façade with attractive black shutters as you enter the driveway. Inside you have a large Great Room which combines a Family Room, Dining Room & Side Sitting area. A cozy & inviting wood burning FIREPLACE is at the heart of the SPACIOUS & COMFORTABLE Family Room. There’s a beautiful space off the Kitchen at the front of the home for the Dining Room. Galley-style Kitchen with room for an Eat-In Dinette. Cabinets were updated with TRENDY gray paint & stainless steel pulls. Master Bedroom features En-Suite Bath. Two additional Bedrooms with a Full Bath. You'll just love the real, nail-down hardwood floors in this home. Downstairs Basement is so unique for florida homes. You’ll just love the storage in this home! SAVE $$$ on your utility bills – this home is on Well & Septic! And No HOA dues! Enjoy just an electric bill. New Roof in 2018 and 3.5 Ton 14 Seer HVAC unit installed in 2017. HVAC coil cleaned and system serviced in November 2020. FRESH PAINT INSIDE, including trim, doors and ceilings + FRESH EXTERIOR PAINT! If you’ve been looking for a piece of property where you can park an RV or Boat – you’ve found it. Priced for the little bit of love it still needs - but all the big ticket items have been done! Don’t miss this Temple Terrace home. Call for your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Temple Crest

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Temple Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* 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
Kimbell Elementary School Primary Regular 542 52 1
Greco Middle School Middle Regular 862 57 1
King High School High Magnet 1,889 106 4

Kimbell Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 52
1
GreatSchools Rating

Greco Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 57
1
GreatSchools Rating

King High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 106
4
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,236
Property Tax -$403
Property Insurance -$171
Property Management Fees -$129
CASH FLOW
$11

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.

$335,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 14.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$28,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,243

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$2,100
$2,100
RENT COMPS ANALYSIS
  • 4618 River Hills Dr Tampa, FL 2
    • 4 beds 2 baths ∙ 2,324 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,324 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 104 Druid Hills Rd Temple Terrace, FL 1
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 1971
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 314 Glen Ridge Ave Temple Terrace, FL 3
    • 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,099 Sqft ∙ Built 1959
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jason Pithers
1.813.601.2920
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277896
Last Updated: 12/01/2020
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