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8234 Summer Wood Ln Riverview, FL 33578

3 Beds 2 Baths 1,576 sqft Built 2009

$230,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $145.94
  • 2 Days on Market
  • MLS # : T3295619
  • Updated Date : 03/14/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,576 sqft
  • Baths : 2 full
Listing Agent

Keller Williams - New Tampa

Listing Agent's Description

This charming home that sits on a corner lot has 3 bedrooms, 2 baths, and a two-car garage is located in the Oak Creek subdivision of Riverview. Features include: living/dining room combo, kitchen with Corian countertops and breakfast bar, eat in space in kitchen, and stainless steel appliances. The Kitchen overlooks the family room. From the family room, there is a glass sliding door that leads out to the backyard which has enough space for a pool. The location of the house allows plenty of light indoors. The master bedroom, with its own full bathroom, has a vanity with dual sinks, walk in shower stall, and a garden tub. The master bedroom has a walk in closet as well. Two good size additional bedrooms that share the 2nd bathroom with a tub and a shower. The inside laundry room comes with a washer and dryer. The community has a playground, picnic area, dog park, and a basketball court. Close to shopping centers, restaurants, I-75, St Rd 301 and down town Tampa.

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

Zip Code: 33578

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k268k

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

Zip Code: 33578

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781726

* 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
Ippolito Elementary School Primary Regular 775 64 3
Giunta Middle School Middle Regular 951 61 1
Spoto High School High Regular 1,449 88 3

Ippolito Elementary School

  • Education Level: Primary
  • # of students: 775
  • # of teachers: 64
3
GreatSchools Rating

Giunta Middle School

  • Education Level: Middle
  • # of students: 951
  • # of teachers: 61
1
GreatSchools Rating

Spoto High School

  • Education Level: High
  • # of students: 1,449
  • # of teachers: 88
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$799
Property Tax -$425
Property Insurance -$128
HOA -$23
Property Management Fees -$129
CASH FLOW
$107

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.

$230,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
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$800k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$24,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6004$1,6105$1,850
$1,850
RENT COMPS ANALYSIS
  • 8234 Summer Wood Ln Riverview, FL 4
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.02
    •  
  • 7103 Colony Pointe Dr Riverview, FL 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2001
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 8428 Quarter Horse Dr Riverview, FL 2
    • 4 beds 2 baths ∙ 1,531 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,531 Sqft ∙ Built 2002
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 8305 Deerland Bluff Ln Riverview, FL 3
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2013
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 8523 Grand Aspen Way Riverview, FL 5
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2018
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
PROPERTY LISTING DETAILS
Dorothy Kaikai
1.813.994.4422
Keller Williams - New Tampa
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3295619
Last Updated: 03/14/2021
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