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7349 Forest Mere Dr Riverview, FL 33578

4 Beds 3 Baths 2,869 sqft Built 2008

$315,300

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $109.90
  • 5 Days on Market
  • MLS # : W7828934
  • Updated Date : 12/09/2020 at 13:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,869 sqft
  • Baths : 2 full , 1 half
Listing Agent

54 Realty Llc

Listing Agent's Description

Charming 4 bedroom, 2.5 bathroom, two-story home in Riverview. Upon arriving at this home, you are welcomed into a foyer that opens to a large formal living room on the right with tile floors and high ceilings. Continuing from the living room, you have a formal dining room with picture windows allowing for an abundance of natural light. The spacious kitchen boasts granite countertops, honey oak wood cabinets with crown molding, stylish tile backsplash, closet pantry, and a large eat-in breakfast nook with bay windows. Overlooking the kitchen is a cozy family room with sliding doors that lead to the covered patio. Upstairs you will find the large primary bedroom that features tray ceilings, dual walk-in closets, and an en suite bathroom with dual separate vanity sinks, large soaking tub, and a large tiled walk-n shower. The upstairs is complete with 3 additional bedrooms and a full bathroom with a shower/tub combo. In the rear of the room, you can relax on the large covered patio overlooking the expansive fenced backyard with plenty of room to add a pool. Located in Riverview, this home is convenient to I-75, and the Selmon Expressway making for an easy commute to Downtown Tampa, Brandon, and surrounding areas.

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

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
 

$283,770$346,830$315,300

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,163
Property Tax -$434
Property Insurance -$203
HOA -$20
Property Management Fees -$129
CASH FLOW
$80

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.

$315,300

PROJECTED PRICE

$2,030

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,305

INVESTMENT

$89,305

Down Payment
$78,825
Rehab Estimate
$5,750
Closing Costs
$4,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,163

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,825
Loan Amount $236,475
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$35,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,281

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9753$2,0304$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 7349 Forest Mere Dr Riverview, FL 3
    • 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,869 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.71
    •  
  • 6119 Magnolia Park Blvd Riverview, FL 1
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 2013
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.72
    •  
  • 7226 Bucks Ford Dr Riverview, FL 2
    • 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 2004
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.78
    •  
  • 9029 Mountain Magnolia Dr Riverview, FL 4
    • 4 beds 4 baths ∙ 3,110 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,110 Sqft ∙ Built 2014
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
  • 8814 Deep Maple Dr Riverview, FL 5
    • 4 beds 4 baths ∙ 2,941 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,941 Sqft ∙ Built 2013
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.88
    •  
PROPERTY LISTING DETAILS
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828934
Last Updated: 12/09/2020
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