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7620 Devonbridge Garden Way Apollo Beach, FL 33572

3 Beds 2 Baths 1,125 sqft Built 2002

$209,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $186.58
  • 2 Days on Market
  • MLS # : W7828620
  • Updated Date : 11/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,125 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Wonderful 3 bedroom, 2 bath, single story home in Apollo Beach. Upon arriving at this home, you are welcomed into a spacious family room with high ceilings, large picture window for natural light, and ceiling fan. From the family room you have a large kitchen with honey oak cabinets, gas range, closet pantry, and ample counter space. Overlooking the kitchen is the dining area with high ceilings and a sliding door leading out to the covered patio. The primary bedroom of this home boasts a large closet, ceiling fan, and an en suite bathroom with a shower/tub combo. The home is complete with 2 additional bedrooms and a full bathroom. Outside, the large fenced backyard has plenty of room to add a pool or entertain. Located in the Covington Park neighborhood of Apollo Beach, this home is convenient to I-75 making for an easy commute to Tampa or Sarasota!

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: Covington Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $91k369k

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

Neighborhood: Covington Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8722083

* 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
Doby Elementary School Primary Regular 808 65 6
Eisenhower Middle School Middle Regular 1,282 86 4
East Bay High School High Regular 2,330 126 4

Doby Elementary School

  • Education Level: Primary
  • # of students: 808
  • # of teachers: 65
6
GreatSchools Rating

Eisenhower Middle School

  • Education Level: Middle
  • # of students: 1,282
  • # of teachers: 86
4
GreatSchools Rating

East Bay High School

  • Education Level: High
  • # of students: 2,330
  • # of teachers: 126
4
GreatSchools Rating
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$774
Property Tax -$280
Property Insurance -$102
HOA -$11
Property Management Fees -$80
CASH FLOW
$23

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.

$209,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$20,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,280

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,2953$1,3504$1,4255$1,650
$1,650
RENT COMPS ANALYSIS
  • 7620 Devonbridge Garden Way Apollo Beach, FL 1
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.13
    •  
  • 7606 Clovelly Park Pl Apollo Beach, FL 2
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 2003
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.12
    •  
  • 7406 Oxford Garden Cir Apollo Beach, FL 3
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2005
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.14
    •  
  • 7849 Bristol Park Dr Apollo Beach, FL 4
    • 4 beds 2 baths ∙ 1,267 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,267 Sqft ∙ Built 2004
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.12
    •  
  • 6906 Monarch Park Dr Apollo Beach, FL 5
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
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 #: W7828620
Last Updated: 11/22/2020
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