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6814 Monarch Park Dr Apollo Beach, FL 33572

3 Beds 2 Baths 1,810 sqft Built 2003

$239,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $132.54
  • 2 Days on Market
  • MLS # : T3282632
  • Updated Date : 01/02/2021 at 19:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,810 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Enjoy NEW UPDATES Throughout! New flooring, freshly painted, new stainless appliances! Here is your opportunity to live in the sought-after community of Covington Park in APOLLO BEACH with an affordable Fee's. Come see this SPACIOUS, BEAUTIFULY UPDATED and CLEAN 3 bedrooms, 2 baths with a split floor plan, semi-open concept living/dining and a spacious kitchen with NEW Stainless Appliances. Every room in the home is generously sized including the secondary bedrooms which share a nice hall bath. The home has nice lighting fixtures, fans and volume ceilings throughout. The spacious kitchen has plenty of storage and counter space with built-in desk space plus a breakfast bar pass through to the living and dining. The master bedroom is private and the bathroom features twin vanities, shower and separate tub with large walk in closet. Vaulted ceilings and large windows throughout the home make the 1810+sq ft even larger. Sit on your covered patio and enjoy a fenced-in private back yard is large. Enjoy resort style amenities at the Covington clubhouse; Amenities include Playground, tennis and basketball courts, walking paths, spacious lap pool, fitness center and more. Come enjoy all that Apollo Beach and the surrounding areas have to offer, 5-star restaurants, shopping... Easy commute to MacDill, Brandon, Tampa, Sarasota, Orlando, TIA and nearby parks and attractions!

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Covington Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k369k

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

Neighborhood: Covington Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8722083

* 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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$885
Property Tax -$414
Property Insurance -$142
HOA -$11
Property Management Fees -$129
CASH FLOW
-$11

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.

$239,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.9%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$19,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,5704$1,5905$1,685
$1,685
RENT COMPS ANALYSIS
  • 6814 Monarch Park Dr Apollo Beach, FL 3
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.87
    •  
  • 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
    •  
  • 7510 Surrey Pines Dr Apollo Beach, FL 2
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2005
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 6844 Monarch Park Dr Apollo Beach, FL 4
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.88
    •  
  • 6805 Cambridge Park Dr Apollo Beach, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Katia Teneyck
1.727.480.5991
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282632
Last Updated: 01/02/2021
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