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7607 Sumter Ct Temple Terrace, FL 33637

3 Beds 2 Baths 1,226 sqft Built 1985

$199,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $163.05
  • 3 Days on Market
  • MLS # : T3291164
  • Updated Date : 02/19/2021 at 02:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,226 sqft
  • Baths : 2 full
Listing Agent

Ez Choice Realty

Listing Agent's Description

MUST SEE!! Beautiful Home in Orange River Estates! This 3 bed 2 bath has a super efficient SPLIT FLOOR PLAN with a large family room. Lots of NATURAL LIGHT throughout the house! The master has a great walk in closet and both bathrooms have updates. The fenced back yard allows you to let the little ones and pets spend time outdoors worry-free and the backyard and the great Patio. Park your car in the garage or use it for extra storage. Like to be active? Use the community pool, park and tennis courts! This community is located in a great spot with USF, Moffitt, Busch Gardens, I4 and I75 just minutes away!

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: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k245k

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

Neighborhood: Temple Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781654

* 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
Folsom Elementary School Primary Regular 537 46 2
Jennings Middle School Middle Regular 770 58 2
King High School High Magnet 1,889 106 4

Folsom Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 46
2
GreatSchools Rating

Jennings Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 58
2
GreatSchools Rating

King High School

  • Education Level: High
  • # of students: 1,889
  • # of teachers: 106
4
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$694
Property Tax -$237
Property Insurance -$107
HOA -$49
Property Management Fees -$129
CASH FLOW
$174

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.

$199,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.0%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$30,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,287

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4953$1,550
$1,550
RENT COMPS ANALYSIS
  • 7607 Sumter Ct Temple Terrace, FL 1
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.13
    •  
  • 8323 Clermont St Tampa, FL 2
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1986
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 9832 Morris Glen Way Temple Terrace, FL 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2000
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.04
    •  
PROPERTY LISTING DETAILS
Rimo Kadous
1.813.653.9676
Ez Choice Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3291164
Last Updated: 02/19/2021
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