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7508 Summerbridge Dr Tampa, FL 33634

3 Beds 3 Baths 1,659 sqft Built 1978

$275,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $165.76
  • 3 Days on Market
  • MLS # : T3277003
  • Updated Date : 11/20/2020 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,659 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sellstate Legacy Realty

Listing Agent's Description

Welcome to your beautifully kept three-bedroom, two and a half bath with two car garage home in the heart of Twelve Oaks! This home boasts pride of ownership from top to bottom. Enjoy the spacious screened in back patio and large backyard during our gorgeous Florida evenings. The open living and dining area provide ample space for entertaining and enjoying the natural light that enters the home. Upstairs, you will find the three bedrooms and two full baths, including the en suite bathroom off the master bedroom. New roof (2019), fresh stucco (2019), exterior paint (2019) seamless gutters (2019) and newly screed front porch (2019). Additionally, the owner has meticulously maintained the Trane 3-Ton A/C unit yearly. Less than five mins to Veterans Expressway, shopping, entertainment, and minutes to Tampa Intl Airport, Downtown Tampa and the Tampa Riverwalk. Search no more! Schedule your private showing before it's gone!

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

Neighborhood: Twelve Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $85k324k

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

Neighborhood: Twelve Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8741753

* 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
Morgan Woods Elementary School Primary Regular 512 50 4
Webb Middle School Middle Regular 875 56 4
Leto High School High Magnet 1,971 108 4

Morgan Woods Elementary School

  • Education Level: Primary
  • # of students: 512
  • # of teachers: 50
4
GreatSchools Rating

Webb Middle School

  • Education Level: Middle
  • # of students: 875
  • # of teachers: 56
4
GreatSchools Rating

Leto High School

  • Education Level: High
  • # of students: 1,971
  • # of teachers: 108
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,015
Property Tax -$338
Property Insurance -$132
Property Management Fees -$80
CASH FLOW
-$15

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.

$275,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 7.9%
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-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$21,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,5504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 7508 Summerbridge Dr Tampa, FL 3
    • 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,659 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 8737 Osage Dr Tampa, FL 1
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1986
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 7627 Rustic Dr Tampa, FL 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1975
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.98
    •  
  • 7318 Sunshine Cir Tampa, FL 4
    • 4 beds 2 baths ∙ 1,695 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,695 Sqft ∙ Built 1975
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 6907 Shady Pl Tampa, FL 5
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1973
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
PROPERTY LISTING DETAILS
Amy M. Storch
1.813.451.9276
Sellstate Legacy Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277003
Last Updated: 11/20/2020
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