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7703 Rio Bella Pl University Park, FL 34201

3 Beds 2 Baths 1,803 sqft Built 2014

$399,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $221.30
  • 2 Days on Market
  • MLS # : A4489398
  • Updated Date : 01/24/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,803 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Florida Realty

Listing Agent's Description

LOCATION. LOCATION...MAINTENANCE FREE LIFESTYLE. Built 2014, 3BR/ 2BA/ 2CG. Other features of this home include: split design, breakfast bar, versatile and flexible home office can easily be turned into a 3rd bedroom whether for your family or guests. Laundry room is off the garage and large screened lanai with an outdoor kitchen. Upgraded custom walk-in closet, plantation shutters in all the bedrooms, pre-wired for surround sound, outdoor kitchen, whole house water filtration system, exterior painted 2019, gutters,18 ft wide garage door, added an additional 2 ft to the garage and hurricane shutters. Outdoor kitchen includes Delta gas grill and refrigerator. Riva Trace is a gated community, offering a maintenance free lifestyle, kayak launch on Braden River, private observation deck overlooking the River, pet friendly and no CDD fees. Fantastic location and easy commute to I-75, UTC Mall, 100+ shops, 20+restaurants, NB Park, rowing and competition course, downtown Sarasota, Lakewood Ranch and Sarasota/Bradenton Airport. CALL today for your appointment

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

Zip Code: 34201

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $112k548k

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

Zip Code: 34201

ZipNIR Market*CityMarket20102015Year20082019 Q2140016001800200022002400260028003000Rent in $12943141

* 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
Willis Elementary School Primary Regular 729 45 10
Braden River Middle School Middle Regular 977 56 5
Braden River High School High Regular 1,999 90 6

Willis Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 45
10
GreatSchools Rating

Braden River Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 56
5
GreatSchools Rating

Braden River High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 90
6
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,386
Property Tax -$431
Property Insurance -$147
HOA -$197
Property Management Fees -$129
CASH FLOW
-$29

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$399,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 1.3%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$21,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,254

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,2604$2,4005$2,900
$2,900
RENT COMPS ANALYSIS
  • 7703 Rio Bella Pl University Park, FL 3
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.25
    •  
  • 6630 Tailfeather Way Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 2003
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.11
    •  
  • 8210 Indigo Ridge Ter University Park, FL 2
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2005
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.20
    •  
  • 7425 Sea Island Ln Bradenton, FL 4
    • 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 2005
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 7300 Saint Georges Way University Park, FL 5
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1997
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.56
    •  
PROPERTY LISTING DETAILS
Tom Waters, Pa
1.941.228.5373
Berkshire Hathaway Homeservices Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4489398
Last Updated: 01/24/2021
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