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7308 Nightshade Dr Riverview, FL 33578

3 Beds 2 Baths 1,745 sqft Built 2015

$280,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $160.46
  • 3 Days on Market
  • MLS # : T3296007
  • Updated Date : 03/20/2021 at 19:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,745 sqft
  • Baths : 2 full
Listing Agent

Re/max Realty Unlimited

Listing Agent's Description

This Oak Creek Taylor Morrison built home offering 3 bedrooms, 2 bathrooms, 2 car garage with 1,745 sq. ft. of living space positioned on a corner lot giving you extra space and only having one neighbor on one side. As you enter the home you are greeted with an open and airy feeling, lots of natural lighting and tall ceilings. The home features a split bedrooms, tall ceilings, large windows and open floorplan. The pristine quartz counter tops in the kitchen, upgraded 42" expresso cabinets, neutral backsplash with a large pantry. The open floorplan with the kitchen and living room out to the lanai are perfect for gatherings. The foyer and master feature tray ceilings. Neutral tile and carpeting throughout as well as an inside laundry room. The double sliding glass doors lead you out to your covered lanai. Easy access to I-75, Selmon Expswy and MacDill AFB. Minutes to everything including area shopping, Brandon Mall, Beaches, Fine Dining, Tampa Airport, parks and more! This home is move in ready, 30 minutes to Tampa, 45 minutes to St Pete, 45 minutes to Bradenton/Sarasota. Easy access to the Florida lifestyle of beaches and amazing restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$973
Property Tax -$386
Property Insurance -$138
HOA -$20
Property Management Fees -$129
CASH FLOW
-$55

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.

$280,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$14,675

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5903$1,5954$1,6005$1,950
$1,950
RENT COMPS ANALYSIS
  • 7308 Nightshade Dr Riverview, FL 2
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.91
    •  
  • 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
    •  
  • 8539 Deer Chase Dr Riverview, FL 3
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2005
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 8305 Deerland Bluff Ln Riverview, FL 4
    • 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
    •  
  • 7108 Spindle Tree Ln Riverview, FL 5
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2008
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
PROPERTY LISTING DETAILS
Samson Lewis Llc
1.813.244.0366
Re/max Realty Unlimited
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3296007
Last Updated: 03/20/2021
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