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6515 Park Terrace Ln Apollo Beach, FL 33572

4 Beds 3 Baths 2,542 sqft Built 2014

$387,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $152.24
  • 7 Days on Market
  • MLS # : T3272897
  • Updated Date : 11/13/2020 at 12:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,542 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty S.shore

Listing Agent's Description

Have you heard? Waterset is THE place to Live! Just ask these sellers, they love their community! Not to mention this beautiful home. As you enter the front door when you turn around to look at front you see a wide open park area. Through the door you'll find a great study with double french doors. Down the Hall is the Great Room that is open to the kitchen area. Sliders lead to the humongous back yard that is just yearning for a pool to be built!! The back lanai is plumbed for an outdoor kitchen and fully screen enclosed. Back into the gourmet kitchen the chef of the family can prepare the fanciest of meals using the extended island, stainless steel gas appliances, with a walk in pantry and an over abundance of cabinet storage. As you head back toward the front of the house to take the stairs up to the bonus room and all of the bedrooms, you'll find plenty of extra storage under the stairs as well as the powder room. Up stairs the family and guests can enjoy their own private area to watch TV, play video games, study, or read a book. The master bedroom on the opposite side of the house from the secondary bedrooms and bathroom. The master is oversized, the master bath ensuite and walk in closets is ready for you to move your wardrobe in! Waterset residents get to walk, jog or bike over 12 miles of trails; enjoy 2 clubhouses, 3 community pools, 2 fitness centers, a cafe, splash pad, and dog park. There is a Charter School on site, tennis courts, pickle ball courts, a volley ball court and frequent community events. The Annual Turkey trot, fall & spring concerts and easy access to the Crosstown, MacDill AFB, I-75 and many shopping areas and restaurants make this community one of the most desire\able in Hillsborough County. This is it, you are home!

SEE MORE

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: Apollo Beach

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k369k

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

Neighborhood: Apollo Beach

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052109

* 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
Doby Elementary School Primary Regular 808 65 6
Eisenhower Middle School Middle Regular 1,282 86 4
East Bay High School High Regular 2,330 126 4

Doby Elementary School

  • Education Level: Primary
  • # of students: 808
  • # of teachers: 65
6
GreatSchools Rating

Eisenhower Middle School

  • Education Level: Middle
  • # of students: 1,282
  • # of teachers: 86
4
GreatSchools Rating

East Bay High School

  • Education Level: High
  • # of students: 2,330
  • # of teachers: 126
4
GreatSchools Rating
 

$348,300$425,700$387,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,428
Property Tax -$517
Property Insurance -$184
HOA -$7
Property Management Fees -$80
CASH FLOW
-$26

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.

$387,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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$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$108,305

INVESTMENT

$108,305

Down Payment
$96,750
Rehab Estimate
$5,750
Closing Costs
$5,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,428

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,750
Loan Amount $290,250
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$30,823

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,180

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$2,1904$2,2505$2,450
$2,450
RENT COMPS ANALYSIS
  • 6515 Park Terrace Ln Apollo Beach, FL 3
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.86
    •  
  • 7308 Carrington Oaks Ln Apollo Beach, FL 1
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2005
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 6712 Guilford Glen Pl Apollo Beach, FL 2
    • 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2006
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.80
    •  
  • 6459 Clair Shore Dr Apollo Beach, FL 4
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2003
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
  • 6908 Neopolitan Ct Apollo Beach, FL 5
    • 3 beds 2 baths ∙ 2,679 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,679 Sqft ∙ Built 2018
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Michele Herndon
1.813.856.9822
Keller Williams Realty S.shore
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3272897
Last Updated: 11/13/2020
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