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7208 Summer St Englewood, FL 34224

3 Beds 2 Baths 1,519 sqft Built 1988

$274,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $180.97
  • 3 Days on Market
  • MLS # : D6114733
  • Updated Date : 11/06/2020 at 13:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,519 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

Well maintained 3-bedroom 2 bath pool home in East Englewood! This property is located on a quiet street, a short drive to the beach, and is ready for new owners! Natural light flows through the freshly painted, open concept, split floor plan with ceramic tile throughout. The kitchen is equipped with stainless appliances, granite countertops, breakfast bar, and plenty of cabinets. The sparkling clean heated pool was re-tiled and the spa resurfaced and converted to a salt system. This home offers a spacious screened lanai - a perfect place to entertain family and friends! The lanai roof was recently replaced. Fresh landscaping adds to the attractiveness of this home. Whether you golf or fish, beach or boat, the small-town atmosphere of Englewood is a delight and offers something for everyone! Call now - this will not last long!

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: Section 64

NeighborhoodNIR Market*City2018Year2016 Q32019120k130k140k150k160k170k180k190kPrice in $119k199k

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

Neighborhood: Section 64

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21150120012501300135014001450150015501600165017001750Rent in $11481780

* 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
Vineland Elementary School Primary Regular 639 43 6
L. A. Ainger Middle School Middle Regular 775 41 6
Lemon Bay High School High Regular 1,268 62 7

Vineland Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 43
6
GreatSchools Rating

L. A. Ainger Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 41
6
GreatSchools Rating

Lemon Bay High School

  • Education Level: High
  • # of students: 1,268
  • # of teachers: 62
7
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,014
Property Tax -$329
Property Insurance -$126
Property Management Fees -$80
CASH FLOW
$290

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$274,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 3.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$56,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,268

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9003$1,3954$1,8405$2,000
$2,000
RENT COMPS ANALYSIS
  • 7208 Summer St Englewood, FL 4
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.21
    •  
  • 7122 Sunnybrook Blvd Englewood, FL 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.64
    •  
  • 10327 Waterford Ave Englewood, FL 2
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.57
    •  
  • 7009 Mamouth St Englewood, FL 3
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 10204 Deerwood Ave Englewood, FL 5
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1989
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
PROPERTY LISTING DETAILS
Anna Wagenseil
1.941.441.8685
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6114733
Last Updated: 11/06/2020
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