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8611 Alafia Ridge Rd Riverview, FL 33569

3 Beds 2 Baths 1,456 sqft Built 1995

$254,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $175.07
  • 5 Days on Market
  • MLS # : T3275814
  • Updated Date : 11/14/2020 at 18:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Re/max Realty Unlimited

Listing Agent's Description

NO HOA OR DEED RESTRICTIONS THIS HOME IS A RARE FIND! CLOSE & CONVENIENT TO EVERYTHING, YET VERY QUIET AND WITH CHARM GALORE.. THIS SWEET HOME FEATURES A SPLIT BEDROOM PLAN, FORMAL LIVING AND DINING, FAMILY ROOM, & A HUGE SCREENED LANAI OVERLOOKING A PRIVATE TROPICAL BACK YARD. THIS HOME IS A RARE FIND! CLOSE & CONVENIENT TO EVERYTHING, YET VERY QUIET AND WITH CHARM GALORE.. THE INTERIOR OF THE HOME HAS GORGEOUS HARDWOOD FLOORS, CERAMIC TILE IN KITCHEN AND BATHROOMS. IF YOUR ARE IN THE MARKET FOR A BEAUTIFUL PLACE TO CALL HOME, YOU MUCH SEE THIS ONE BEFORE IT'S TOO LATE.........

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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: 33569

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 33569

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Boyette Springs Elementary School Primary Regular 559 41 6
Rodgers Middle School Middle Regular 719 49 3
Riverview High School High Regular 2,387 128 6

Boyette Springs Elementary School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 41
6
GreatSchools Rating

Rodgers Middle School

  • Education Level: Middle
  • # of students: 719
  • # of teachers: 49
3
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 128
6
GreatSchools Rating
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$940
Property Tax -$351
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
$18

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.

$254,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.2%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$24,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,507

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5103$1,6354$1,6505$1,684
$1,684
RENT COMPS ANALYSIS
  • 8611 Alafia Ridge Rd Riverview, FL 2
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.04
    •  
  • 11401 Andy Dr Riverview, FL 1
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1991
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 8240 Stoner Rd Riverview, FL 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1995
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.97
    •  
  • 8624 Dee Cir Riverview, FL 4
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1985
    property image
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 8502 Dee Cir Riverview, FL 5
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1984
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,684
    • $1.09
    •  
PROPERTY LISTING DETAILS
Susan Cioffi
1.813.956.8513
Re/max Realty Unlimited
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275814
Last Updated: 11/14/2020
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