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8812 Riverscape Way Tampa, FL 33635

4 Beds 3 Baths 2,548 sqft Built 2004

$399,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $156.59
  • 5 Days on Market
  • MLS # : T3276595
  • Updated Date : 11/28/2020 at 21:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,548 sqft
  • Baths : 2 full , 1 half
Listing Agent

Florida Executive Realty

Listing Agent's Description

Move in Ready & Quick Close! Seller is relocating. This is a Beautiful 4 bedroom, 2.5 bath, two story "salt water pool" home. Once you step inside, you will find an unswerving commitment to quality. The home boasts a formal entry, living, dining and family room on the first floor. All wrapped around a beautiful kitchen with tiled back splash and solid counter tops. The French doors in the Family Room open to the outside oasis featuring a pool. The upstairs features a large master bedroom with a sitting area and huge closet space, complimented with three full size bedrooms and a full bathroom. There are too many upgrades to list, brand new Landscape, 2019 new paint in and out, 2018 All new appliances, Screen enclosed heated salt water pool with Pebble tech finish and paver, hardwood floors in the main downstairs areas, stairs and upstairs foyer, crown molding on the first floor, decorative glass front doors, French doors off the family room, decorative mirrors in all the baths and decorative hardware in all the wet areas, fenced yard. AC unit in the first replaced in June 2014, AC unit in the second floor replaced in 2012. Wonderful friendly neighborhood with No CDD and great schools, close to airport, shopping, downtown Tampa and Clearwater. This jewel will not last long.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Town N County Alliance

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220kPrice in $84k238k

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

Neighborhood: Town N County Alliance

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7661620

* 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
Lowry Elementary School Primary Regular 834 66 6
Farnell Middle School Middle Regular 1,356 75 9
Alonso High School High Regular 2,607 136 5

Lowry Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 66
6
GreatSchools Rating

Farnell Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 75
9
GreatSchools Rating

Alonso High School

  • Education Level: High
  • # of students: 2,607
  • # of teachers: 136
5
GreatSchools Rating
 

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

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,472
Property Tax -$486
Property Insurance -$184
HOA -$80
Property Management Fees -$80
CASH FLOW
$279

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.

$399,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

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$1.2M$1.4M

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 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$65,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,790

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,499
1$2,4992$2,5003$2,5804$2,6005$2,850
$2,850
RENT COMPS ANALYSIS
  • 8812 Riverscape Way Tampa, FL 3
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.01
    •  
  • 8809 Riverscape Way Tampa, FL 1
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2004
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.01
    •  
  • 9911 Woodbay Dr Tampa, FL 2
    • 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,350 Sqft ∙ Built 1993
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
  • 12415 Seabrook Dr Tampa, FL 4
    • 4 beds 2 baths ∙ 2,281 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,281 Sqft ∙ Built 1994
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
  • 12427 Bristol Commons Cir Tampa, FL 5
    • 5 beds 3 baths ∙ 2,444 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,444 Sqft ∙ Built 1993
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.17
    •  
PROPERTY LISTING DETAILS
Ali Lunardi
1.760.822.3545
Florida Executive Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3276595
Last Updated: 11/28/2020
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