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9163 118th Way Seminole, FL 33772

4 Beds 2 Baths 1,719 sqft Built 1976

$359,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $209.37
  • 5 Days on Market
  • MLS # : U8107084
  • Updated Date : 12/10/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,719 sqft
  • Baths : 2 full
Listing Agent

Your Neighborhood Realty Assoc

Listing Agent's Description

Opportunity Knocks with this ONE Owner home! 4 true bedrooms, 2 baths, family room and large back porch that opens into a backyard that is waiting for your new pool. Quality, cement tile roof protecting above and cinderblock construction providing safety and security in the storms. Attached, 2 car garage with Washer and Dryer hookups. Located just off Ridge Rd with easy access to the many amenities the Seminole community has to offer. Retail, Restaurants, Professional Services you name it. Its just minutes from this wonderful home. With some updates, this home is easily over the $400K price range so do not hasten to see it.

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

Zip Code: 33772

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k256k

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

Zip Code: 33772

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781803

* 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
Seminole Elementary School Primary Regular 641 45 4
Osceola Middle School Middle Regular 1,162 65 5
Seminole High School High Regular 2,133 103 5

Seminole Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 45
4
GreatSchools Rating

Osceola Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 65
5
GreatSchools Rating

Seminole High School

  • Education Level: High
  • # of students: 2,133
  • # of teachers: 103
5
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,328
Property Tax -$452
Property Insurance -$136
Property Management Fees -$129
CASH FLOW
-$15

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.

$359,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.56%

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$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$29,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,166

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,0004$2,0305$2,200
$2,200
RENT COMPS ANALYSIS
  • 9163 118th Way Seminole, FL 4
    • 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,719 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.18
    •  
  • 11040 104th Ave Seminole, FL 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1972
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.18
    •  
  • 11300 81st Ave Seminole, FL 2
    • 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1985
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.31
    •  
  • 10821 Freedom Blvd Seminole, FL 3
    • 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,715 Sqft ∙ Built 1961
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
  • 11744 80th Ave Seminole, FL 5
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1959
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.38
    •  
PROPERTY LISTING DETAILS
James Longstreth Jr
1.727.643.7512
Your Neighborhood Realty Assoc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107084
Last Updated: 12/10/2020
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