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6602 Cambridge Park Dr Apollo Beach, FL 33572

3 Beds 3 Baths 1,872 sqft Built 2004

$260,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $138.89
  • 3 Days on Market
  • MLS # : T3279013
  • Updated Date : 12/05/2020 at 21:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,872 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Realty Unlimited

Listing Agent's Description

You are going to love this beautifully updated, split plan 3 bedroom 2 bathroom home with an office. The home is situated on a fully fenced, corner lot with lush landscaping. Impact sliders will lead you out to your lanai. When you walk into the home you will notice an abundance of natural light and warm colors. At the front of the home you will find the home office and dining room. The gourmet updated kitchen is a cooks delight, featuring granite counter tops, a gorgeous subway tile backsplash, a large breakfast bar, stainless steel appliances and a gas stove! The kitchen flows nicely into the family room with soaring high ceilings. The large master bedroom features a walk in closet and an updated bathroom that has a separate garden tub and a large walk-in shower, with tile flooring. All laminate flooring is being replaced prior to closing. Covington Park is a highly desirable Apollo Beach community that has 2 pools, a playground, tennis & basketball courts, walking and bike trails. Excellent location, close to I-75, 301, a new hospital, restaurants, shopping and supermarkets. This home is one of a kind and shows like a model! Schedule your showing before it’s gone!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$959
Property Tax -$347
Property Insurance -$145
HOA -$10
Property Management Fees -$129
CASH FLOW
-$51

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.

$260,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.59%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,996

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,5404$1,6855$1,916
$1,916
RENT COMPS ANALYSIS
  • 6602 Cambridge Park Dr Apollo Beach, FL 3
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.82
    •  
  • 6945 Exeter Park Pl Apollo Beach, FL 1
    • 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 2003
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.83
    •  
  • 6705 Cambridge Park Dr Apollo Beach, FL 2
    • 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 2005
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 6805 Cambridge Park Dr Apollo Beach, FL 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2006
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.86
    •  
  • 7139 Bowspirit Pl Apollo Beach, FL 5
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2018
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,916
    • $0.99
    •  
PROPERTY LISTING DETAILS
Karen Woods
1.802.310.4946
Re/max Realty Unlimited
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279013
Last Updated: 12/05/2020
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