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5318 98th Ave E Parrish, FL 34219

4 Beds 3 Baths 2,688 sqft Built 2011

$385,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $143.23
  • 3 Days on Market
  • MLS # : A4491748
  • Updated Date : 02/20/2021 at 08:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,688 sqft
  • Baths : 3 full
Listing Agent

Leslie Wells Realty, Inc.

Listing Agent's Description

It’s the WOW from the moment you enter the front door! One of Harrison Ranch’s most popular models, that is the perfect home for those that are doing home schooling or working from the home. This expansive home features 4 bedrooms, 3 full baths (one is a Jack and Jill and the other is a pool bath) a den and formal living room that could easily double as a music room, TV roomor additional office space. This flexible floor plan offers many opportunities. The open kitchen and great room will make entertaining a breeze. Kitchen has plenty of cabinet storage, pantry and dining space. Great room opens to an extended lanai with an outdoor spa. Privacy lovers will appreciate the way the home is situated on this lot to take advantage of wooded preserve in the back yard as well the conservation lot next door and across the street! Everyone loves a 3 car garage and this one has insulated garage door and attic fan that provides comfort when doing garage projects. Carpeting is brand new and there is a solar panel for the water heater. Great location just minutes to I-75 for an easy commute to Tampa, St. Pete, Bradenton and Sarasota. Newer high school, middle school and elementary schools are a quick drive as well as Charter School and future new campus of SFC. Harrison Ranch is in the hub of Parrish, one of the area’s fastest growing areas. This amenity rich community has much to offer including : 24-hour Fitness Center ,Olympic Sized Heated Swimming Pool ,Tennis Courts , Nature Trails, & an On-site Community Association Manager & Lifestyles Director

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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

Neighborhood: Harrison Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $107k409k

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

Neighborhood: Harrison Ranch

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001400160018002000220024002600Rent in $11422642

* 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
Blackburn Elementary School Primary Regular 463 33 2
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Blackburn Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 33
2
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
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,337
Property Tax -$434
Property Insurance -$201
HOA -$9
Property Management Fees -$129
CASH FLOW
$169

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.

$385,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 6.3%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$41,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9853$2,1004$2,1995$2,280
$2,280
RENT COMPS ANALYSIS
  • 5318 98th Ave E Parrish, FL 5
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.85
    •  
  • 5810 100th Ave E Parrish, FL 1
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2006
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 6603 49th Ct E Ellenton, FL 2
    • 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 2013
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.80
    •  
  • 4502 70th Ave E Ellenton, FL 3
    • 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,454 Sqft ∙ Built 2008
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 5325 E 74th Pl E Ellenton, FL 4
    • 4 beds 5 baths ∙ 2,933 Sqft ∙ Built 2011 4 beds 5 baths ∙ 2,933 Sqft ∙ Built 2011
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.75
    •  
PROPERTY LISTING DETAILS
Madison Wells, Pllc
1.941.405.6917
Leslie Wells Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491748
Last Updated: 02/20/2021
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