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5465 Citrus Hill Dr Polk City, FL 33868

3 Beds 2 Baths 1,344 sqft Built 1990

$170,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $126.49
  • 19 Days on Market
  • MLS # : O5922196
  • Updated Date : 02/25/2021 at 17:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome Home! This NEWLY RENOVATED 3 BEDROOM, 2 FULL BATH single family home is ready to be all yours. This is NOT a mobile home. Sitting on OVER A HALF ACRE of land and a CUL-DE-SAC with NO HOA there's no time for you to question this one. It's an absolute dream! Newly laid ENGINEERED HARDWOOD FLOORS keep your new home beautiful and ENERGY EFFICIENT. The stylish KITCHEN with BUTCHER BLOCK ISLAND has everything you could ever ask for PLUS Seller is offering $1000 APPLIANCE CREDIT!! This an OPEN FLOORPLAN allows for you to entertain family and guests. Extend the party outdoors on your NEWLY BUILT REAR DECK that overlooks a HUGE BACKYARD complete with STORAGE SHEDS. You'll even have your own WELL so there's no water bill! Make this home yours TODAY!!

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MARKET HIGHLIGHTS

  • 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)
  • One of the best cost-friendly American cities to do business (KPMG)

PRICE & RENT TRENDS

Neighborhood: Citrus Hill

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $52k186k

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

Neighborhood: Citrus Hill

NeighborhoodNIR Market*CityMarket2015Year20092019 Q275080085090095010001050110011501200125013001350Rent in $7341352

* 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
Polk City Elementary School Primary Regular 471 32 3
Jere L. Stambaugh Middle School Middle Regular 851 48 2
Tenoroc High School High Regular 1,170 72 2

Polk City Elementary School

  • Education Level: Primary
  • # of students: 471
  • # of teachers: 32
3
GreatSchools Rating

Jere L. Stambaugh Middle School

  • Education Level: Middle
  • # of students: 851
  • # of teachers: 48
2
GreatSchools Rating

Tenoroc High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 72
2
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$590
Property Tax -$192
Property Insurance -$113
Property Management Fees -$129
CASH FLOW
$126

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.

$170,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 2.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

8.92

YEARS SAVED

$20,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $986

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$1,1503$1,2954$1,350
$1,350
RENT COMPS ANALYSIS
  • 5465 Citrus Hill Dr Polk City, FL 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.86
    •  
  • 5455 Oro Valley Rd Auburndale, FL 1
    • 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2007
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.56
    •  
  • 9048 Damascus Ave Polk City, FL 3
    • 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 1980
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.80
    •  
  • 5372 Dornich Dr Auburndale, FL 4
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2006
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
PROPERTY LISTING DETAILS
Michael Collier
1.407.494.4013
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5922196
Last Updated: 02/25/2021
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