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7103 Bowspirit Pl Apollo Beach, FL 33572

3 Beds 3 Baths 2,132 sqft Built 2018

$310,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $145.40
  • 2 Days on Market
  • MLS # : T3274133
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,132 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mammoth Realty, Llc

Listing Agent's Description

Beautiful modern home offered at a great price in highly desired community of Waterset. All Law service included with low monthly maintenance fee. Kitchen offer granite counter with marble backsplash. Screened in brick paved lanai. Mater bedrooms has wonderful views of the lake and offers walk in closet. Master bathroom features upgraded shower with frameless glass enclosure. Waterset community offers 2 clubhouses and 3 pools. Community also offers walking trails, splash park, dog parks, fitness center, tennis, basketball, volley ball and pickle ball courts. Many community activities. Quick access to grocery, pharmacy and gas stations. Easy access to interstates. Hurry tis one wont last.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,144
Property Tax -$432
Property Insurance -$160
HOA -$7
Property Management Fees -$80
CASH FLOW
-$24

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.

$310,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.58%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$24,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,967

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8004$1,9165$2,100
$2,100
RENT COMPS ANALYSIS
  • 7103 Bowspirit Pl Apollo Beach, FL 3
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
  • 6721 Cambridge Park Dr Apollo Beach, FL 1
    • 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2005
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
  • 7324 Guilford Pine Ln Apollo Beach, FL 2
    • 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2006
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
  • 7139 Bowspirit Pl Apollo Beach, FL 4
    • 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
    •  
  • 7009 Makers Way Apollo Beach, FL 5
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2014
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
PROPERTY LISTING DETAILS
Varghese Mammen
1.813.400.7247
Mammoth Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274133
Last Updated: 11/03/2020
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