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6116 Vireoridge Dr Lithia, FL 33547

4 Beds 4 Baths 2,980 sqft Built 2003

$462,900

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $155.34
  • 5 Days on Market
  • MLS # : T3295245
  • Updated Date : 03/17/2021 at 15:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,980 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This beautiful POOL/SPA Home is located on a quiet Cul de Sac in the village of Vireoridge of Fishhawk Ranch. This home is a very spacious 4 bedroom, 4 Bath with a separate office and a 3 car garage. There are plenty of newly painted 42 inch white cabinets, a large kitchen island, BRAND NEW stainless refrigerator, gas stove, breakfast bar, and a spacious pantry. The upstairs bonus room is very large and has its own FULL bath. The outside of the home and lanai pool deck have been recently painted as well. The pool/ spa have a BRAND NEW pool motor, BRAND NEW pool vacuum, and BRAND NEW marcite pool interior that has just been complete. The back yard is very private and a great size to enjoy the Florida weather. The home has an open floor plan, high ceilings lined with crown molding, a 3 way split with all the bedrooms being on the first floor. All of this located near "A “RATED Schools, Bevis, Randall and Newsome High school. Over 26 miles of walking paths, 3 fitness centers, movie theater, basketball courts, numerous parks, an Aquatic Center, several swimming pools, a tennis center and so much more. Don’t miss seeing this home, it will not last!

SEE MORE

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: 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
Bevis Elementary School Primary Regular 807 58 10
Randall Middle School Middle Regular 1,345 76 9
Newsome High School High Regular 2,469 125 9

Bevis Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 58
10
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
 

$416,610$509,190$462,900

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$1,608
Property Tax -$833
Property Insurance -$210
HOA -$5
Property Management Fees -$129
CASH FLOW
$45

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.

$462,900

PROJECTED PRICE

$2,830

PROJECTED RENT

0.61%

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$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$128,419

INVESTMENT

$128,419

Down Payment
$115,725
Rehab Estimate
$5,750
Closing Costs
$6,944

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,725
Loan Amount $347,175
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$35,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,660

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6003$2,6504$2,8005$2,830
$2,830
RENT COMPS ANALYSIS
  • 6116 Vireoridge Dr Lithia, FL 5
    • 4 beds 4 baths ∙ 2,980 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,980 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $0.95
    •  
  • 6035 Palomaglade Dr Lithia, FL 1
    • 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2003
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.89
    •  
  • 14724 Heronglen Dr Lithia, FL 2
    • 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 2002
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 16158 Bridgepark Dr Lithia, FL 3
    • 5 beds 3 baths ∙ 3,090 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,090 Sqft ∙ Built 2006
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.86
    •  
  • 15004 Heronglen Dr Lithia, FL 4
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2001
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lisa White
1.813.454.1067
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3295245
Last Updated: 03/17/2021
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