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7914 Edmonston Cir University Park, FL 34201

3 Beds 3 Baths 2,452 sqft Built 2002

INVESTimate

$459,000

List Price

$2,660

$2,410 - $2,910

Rent Est.

$467,813  ( +1.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $187.19
  • 5 Days on Market
  • MLS # : N6111535
  • Updated Date : 08/24/2020 at 14:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,452 sqft
  • Baths : 3 full
Listing Agent

Palmerhouse Properties

Listing Agent's Description

Living at it's finest! This stunning pool home has a bright and airy open floor plan that boasts a vaulted ceiling and 18" tile throughout the great room and living areas. Plantation shutters almost everywhere. Spacious and open kitchen with breakfast bar, granite counters, stainless appliances, quality cabinets and closet pantry. Off the kitchen is an aquarium glass window overlooking the pool area. 3 bedrooms plus a spacious office/den/media room which could be used as a 4th. Master bedroom has a pocket slider to lanai. 3 full baths. This well maintained home features a side entrance large 2 car garage with overhead storage, rain gutters, hurricane shutters just to name a few highlights. The lanai is very inviting with a pebble tec pool, paver flooring, ceiling fan and special lighting. AC, washer/dryer and dishwasher all replaced in the past year. University Place is a gated 400 home community with many acres of common land, sixteen ponds and two nature trails. Association amenities include two wonderful pool recreation facilities and playground. University Place is located near great schools, UTC mall, SRQ airport and downtown Sarasota and beaches.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: University Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k552k

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

Neighborhood: University Place

NeighborhoodNIR 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
 

$413,100$504,900$459,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,694
Property Tax -$496
Property Insurance -$186
HOA -$110
Property Management Fees -$80
CASH FLOW
$94

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.

$459,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 1.92%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,694

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

6.83

YEARS SAVED

$45,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,673

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6503$2,6604$2,7955$2,800
$2,800
RENT COMPS ANALYSIS
  • 7914 Edmonston Cir University Park, 3
    • 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.08
    •  
  • 7318 Windemere Ln University Park, 1
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 1999
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.06
    •  
  • 7610 Heyward Cir University Park, 2
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2005
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.00
    •  
  • 7922 Edmonston Cir University Park, 4
    • 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,432 Sqft ∙ Built 2003
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.15
    •  
  • 8103 Planters Knoll Ter University Park, 5
    • 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,437 Sqft ∙ Built 2004
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.15
    •  
PROPERTY LISTING DETAILS
James Briley
1.941.800.7622
Palmerhouse Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6111535
Last Updated: 08/24/2020
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