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5217 120th Ave E Parrish, FL 34219

4 Beds 3 Baths 2,765 sqft Built 2010

$450,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $162.75
  • 3 Days on Market
  • MLS # : A4495524
  • Updated Date : 03/26/2021 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,765 sqft
  • Baths : 3 full
Listing Agent

Fine Properties

Listing Agent's Description

Pride of ownership shines in this well cared for home located in the established and friendly community of Lakeside Preserve. The new owners will appreciate the Low HOA fees under $100/m (includes reclaimed water irrigation for lawn), NO CDD fees and no flood insurance required! On top of that, this beautiful home comes with solar power! Imagine having a $20 electric bill! Built in 2010, the versatile Aruba floor plan offers tons of storage, beautiful bay windows in the main and guest rooms, central vacuum system, tile and engineered hardwood floors throughout, crown molding, whole house water filter, 80 gallon solar hot water tank and great views. This 4 bedroom, 3 bath, 3 car garage home offers a split floor plan with eat-in kitchen and large island that overlooks the generous sized family room. You will have plenty of storage in this well thought out floor plan with walk-in kitchen pantry and loads of extra closets and storage throughout. The main suite offers Brazilian Cherry Engineered wood floors, his and hers closets, dual vanities, walk-in shower and soaking tub. Formal Dining room plus a bonus area you can use as a formal living room, office or game room. Enjoy Beautiful sunsets and bird watching from the huge 1,300+ Sq. Ft. lanai with lake views. Exterior of the home was recently painted and has gutters and hurricane shutters. Come join this growing community offering great schools including the new Parrish Community High School just minutes away! Convenient location north of the River in Parrish, Manatee Counties new hot spot with countless new shops, restaurants and retail venues planned in the near future. Why wait to build when this beauty is ready now!

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: Lakeside Preserve

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $112k409k

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

Neighborhood: Lakeside Preserve

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001400160018002000220024002600Rent in $11302642

* 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
Williams Elementary School Primary Regular 911 52 6
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Williams Elementary School

  • Education Level: Primary
  • # of students: 911
  • # of teachers: 52
6
GreatSchools Rating

Buffalo Creek Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 54
5
GreatSchools Rating

Palmetto High School

  • Education Level: High
  • # of students: 2,076
  • # of teachers: 93
3
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,563
Property Tax -$459
Property Insurance -$206
HOA -$94
Property Management Fees -$129
CASH FLOW
$30

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$450,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$31,290

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,470

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$2,4003$2,4804$2,595
$2,595
RENT COMPS ANALYSIS
  • 5217 120th Ave E Parrish, FL 3
    • 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.90
    •  
  • 3305 Little Country Rd Parrish, FL 1
    • 3 beds 3 baths ∙ 2,498 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,498 Sqft ∙ Built 2003
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.67
    •  
  • 11326 30th Cv E Parrish, FL 2
    • 3 beds 3 baths ∙ 2,511 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,511 Sqft ∙ Built 2001
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 6915 Indus Valley Cir Parrish, FL 4
    • 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2019
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.05
    •  
PROPERTY LISTING DETAILS
Thomas Hearn
1.941.735.8525
Fine Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4495524
Last Updated: 03/26/2021
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