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5424 Ripple Creek Dr Tampa, FL 33625

4 Beds 3 Baths 1,531 sqft Built 1979

$299,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $195.89
  • 4 Days on Market
  • MLS # : T3276843
  • Updated Date : 11/20/2020 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,531 sqft
  • Baths : 3 full
Listing Agent

Investment Realty

Listing Agent's Description

Excellent investment opportunity, or first time homebuyers welcome to this beautiful and spacious Home in Carrollwood Meadows offers 3 bedrooms and 2 bathrooms, large living room and kitchen, separate family room and enclosed porch or Florida room, in addition this home offers a comfortable independent efficiency with 1 bedroom and 1 bathroom, separate entrance. This home is one owner only, original owner since 1979. The owner updated the roof less than 5 years, as well as the AC, and updated tankless water heater. All tile floor throughout the home except one carpeted room. Appliances include range, refrigerator, dishwasher, washer and dryer.

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Carrollwood Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k252k

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

Neighborhood: Carrollwood Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781643

* 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
Citrus Park Elementary School Primary Regular 590 52 8
Smith Middle School Middle Regular 854 53 6
Sickles High School High Regular 2,135 110 7

Citrus Park Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 52
8
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 854
  • # of teachers: 53
6
GreatSchools Rating

Sickles High School

  • Education Level: High
  • # of students: 2,135
  • # of teachers: 110
7
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,107
Property Tax -$369
Property Insurance -$125
HOA -$1
Property Management Fees -$80
CASH FLOW
-$31

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.

$299,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 11.1%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 5424 Ripple Creek Dr Tampa, FL 4
    • 4 beds 3 baths ∙ 1,531 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,531 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 14312 Knoll Ridge Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1977
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 5723 Kneeland Ln Tampa, FL 2
    • 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,457 Sqft ∙ Built 1984
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
  • 14501 Mainland Greens Pl Tampa, FL 3
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1978
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 13729 Country Court Dr Tampa, FL 5
    • 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1979
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Susan Ross
1.813.466.3430
Investment Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276843
Last Updated: 11/20/2020
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