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6618 Rock Bridge Ln Ellenton, FL 34222

3 Beds 2 Baths 2,035 sqft Built 2006

$294,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.91
  • 8 Days on Market
  • MLS # : A4483822
  • Updated Date : 11/16/2020 at 07:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,035 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens Real Estate Atchley Propert

Listing Agent's Description

Welcome to your new home! This bright and beautiful Willow model by Lennar boasts 3 bedrooms and 2 baths in popular Covered Bridge Estates. This home offers a large master suite, huge living room, den/office and an open concept kitchen/family room which is perfect for entertaining family and friends. You'll enjoy the quiet, private backyard with screened lanai. Also included is an irrigation system and hurricane shutters. Location is everything! Minutes to shopping (Ellenton Premium Outlets) and restaurants just off I-75, and just minutes away from Bradenton's Riverwalk and Sarasota, with the beach communities of Anna Maria Island, Holmes Beach and Longboat Key just a short drive away. 30 minutes to Tampa/St. Pete and Sarasota. Amenities include newly updated clubhouse with fitness center, kitchen, billiard room, walking trails, playground, tennis courts, basketball courts, heated pool and boat/RV storage available all with low HOAs and no CDD.

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: Covered Bridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $117k409k

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

Neighborhood: Covered Bridge Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001400160018002000220024002600Rent in $11492642

* 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
Mills Elementary School Primary Regular 1,160 66 6
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Mills Elementary School

  • Education Level: Primary
  • # of students: 1,160
  • # of teachers: 66
6
GreatSchools Rating

Buffalo Creek Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 54
5
GreatSchools Rating

Palmetto High School

  • Education Level: High
  • # of students: 2,076
  • # of teachers: 93
3
GreatSchools Rating
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,088
Property Tax -$296
Property Insurance -$161
HOA -$72
Property Management Fees -$80
CASH FLOW
$22

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.

$294,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$24,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,796

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,6993$1,7204$1,9005$1,925
$1,925
RENT COMPS ANALYSIS
  • 6618 Rock Bridge Ln Ellenton, FL 3
    • 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.85
    •  
  • 4028 Day Bridge Pl Ellenton, FL 1
    • 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2006
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.81
    •  
  • 5995 Willows Bridge Loop Ellenton, FL 2
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2007
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.83
    •  
  • 5711 Broad River Run Ellenton, FL 4
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2015
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 4611 Trout River Xing Ellenton, FL 5
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.96
    •  
PROPERTY LISTING DETAILS
Steve Howard
1.941.957.8511
Better Homes & Gardens Real Estate Atchley Propert
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483822
Last Updated: 11/16/2020
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