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7117 Forest Mere Dr Riverview, FL 33578

3 Beds 2 Baths 1,758 sqft Built 2011

$266,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $151.31
  • 6 Days on Market
  • MLS # : U8104563
  • Updated Date : 11/17/2020 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

This is the most distinctive desired home in Oak Creeks that offers 3 bedrooms, 2 bathrooms, 2-car garage, with 1,758 sqft split bedroom floor plan. The easy maintained side-walk leads you to the home with open grand room and vaulted Ceiling. The kitchen has wood cabinetry, double door pantry, an exhausted fan, recessed lighting with eat-in area. The formal dining room and kitchen overlook the customized-stone TV section wall with projector screen that offers the center for family entertainment. A double sliding glass door leading out to the screened lanai to enjoy the view of panoramic pond & conservation views, no rear neighbors. All the bedrooms fully replaced tile few years ago, no carpet!!! The Owner’s suite is large and has soak bathtub, walk-in shower, and walk-in closet. Besides the playground, picnic area, basketball and soccer in community, a new community pool & clusbhouse coming in 2021. The location is convenient to Brandon Mall, MacDill AFB, I-75, Selmon Expy, public BOAT RAMP, New Annex VA Facility and more! Don’t miss out the rare opportunity and schedule your showing today!

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

Zip Code: 33578

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k268k

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

Zip Code: 33578

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781726

* 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
Ippolito Elementary School Primary Regular 775 64 3
Giunta Middle School Middle Regular 951 61 1
Spoto High School High Regular 1,449 88 3

Ippolito Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 64
3
GreatSchools Rating

Giunta Middle School

  • Education Level: Middle
  • # of students: 951
  • # of teachers: 61
1
GreatSchools Rating

Spoto High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 88
3
GreatSchools Rating
 

$239,400$292,600$266,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$981
Property Tax -$366
Property Insurance -$139
HOA -$20
Property Management Fees -$80
CASH FLOW
$114

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.

$266,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$76,240

INVESTMENT

$76,240

Down Payment
$66,500
Rehab Estimate
$5,750
Closing Costs
$3,990

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,500
Loan Amount $199,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$34,807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,6003$1,7004$1,7505$1,849
$1,849
RENT COMPS ANALYSIS
  • 7117 Forest Mere Dr Riverview, FL 3
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 8434 Quarter Horse Dr Riverview, FL 1
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2001
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
  • 8305 Deerland Bluff Ln Riverview, FL 2
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2013
    property image
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 6310 Yellow Buckeye Dr Riverview, FL 4
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2016
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 8316 Willow Beach Dr Riverview, FL 5
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2017
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $1.03
    •  
PROPERTY LISTING DETAILS
Ling Han Pa
1.727.465.6925
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104563
Last Updated: 11/17/2020
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