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6103 Churchside Dr Lithia, FL 33547

3 Beds 3 Baths 2,723 sqft Built 2006

$420,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $154.24
  • 5 Days on Market
  • MLS # : T3289924
  • Updated Date : 02/17/2021 at 16:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,723 sqft
  • Baths : 3 full
Listing Agent

Re/max Realty Unlimited

Listing Agent's Description

Executive home, built by David Weekly has room for everyone. The large master suite is located on the first floor, includes walk in closet, dual sinks, separate walk in shower and jetted soaking tub. The office is located at the front of the home for privacy, includes luxury vinyl flooring, plantation shutters, ceiling fan with lights and french doors. The secondary bedrooms share a media/play area where a full bath is also located. Formal dining room is generous in size, luxury vinyl and plantation shutters complete the room. The island kitchen includes granite counter tops, stainless steel appliances, breakfast bar and window seat. The kitchen is open to the great room for entertaining. An upstairs bonus room includes a door, and a full bath, which allows it to function as a guest suite. The home features plantation shutters and blinds throughout, two tone paint, crown molding, diagonal tile flooring and volume ceilings. The inside laundry is plumbed for utility sink. Beautifully landscaped with wrought iron fencing, located on a corner lot with wide open views to enjoy from the covered front porch. Enjoy all the amenities that Fishhawk Ranch offers Make this your new home today!

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: Fishhawk

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Fishhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052692

* 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
Fishhawk Creek Elementary School Primary Regular 990 70 9
Randall Middle School Middle Regular 1,345 76 9
Newsome High School High Regular 2,469 125 9

Fishhawk Creek Elementary School

  • Education Level: Primary
  • # of students: 990
  • # of teachers: 70
9
GreatSchools Rating

Randall Middle School

  • Education Level: Middle
  • # of students: 1,345
  • # of teachers: 76
9
GreatSchools Rating

Newsome High School

  • Education Level: High
  • # of students: 2,469
  • # of teachers: 125
9
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,459
Property Tax -$710
Property Insurance -$195
HOA -$9
Property Management Fees -$129
CASH FLOW
-$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$420,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,383

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,3304$2,4005$2,425
$2,425
RENT COMPS ANALYSIS
  • 6103 Churchside Dr Lithia, FL 3
    • 3 beds 3 baths ∙ 2,723 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,723 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.86
    •  
  • 6224 Bridgevista Dr Lithia, FL 1
    • 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 2005
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 16213 Bridgewalk Dr Lithia, FL 2
    • 4 beds 4 baths ∙ 2,547 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,547 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 6025 Churchside Dr Lithia, FL 4
    • 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2006
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 6056 Fishhawk Crossing Blvd Lithia, FL 5
    • 4 beds 4 baths ∙ 2,544 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,544 Sqft ∙ Built 2013
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.95
    •  
PROPERTY LISTING DETAILS
Debra Vogel, Pllc
1.813.363.3180
Re/max Realty Unlimited
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289924
Last Updated: 02/17/2021
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