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$699,900

Sale Pending
11624 Monette Rd, Riverview, FL 33569
3 Beds
3 Baths
2,011 Square Feet
0.92 Acres Lot
Built in 1974
Sale Pending
1 Units
Checked: 6 hours ago
Updated: Sep 08, 2025 at 10:04AM

Investment Summary


Monthly Cash Flow
-$2,063
Cap Rate
2.6%
Cash-on-Cash Return
-15.4%
Debt Coverage Ratio
0.42
Internal Rate of Return (5 years)
-10.9%

Property Description


0.92 Acres Lot
Built in 1974
Sale Pending
1 Units

Under contract-accepting backup offers. For more than 30 years, this beloved riverfront home has been part of one family’s story—a place where mornings began with coffee on the dock as manatees floated by, and evenings ended watching fish jump under the setting sun. Tucked along the serene Alafia River, this property is far from ordinary. It’s not a cookie-cutter house—it’s a secluded retreat where memories have been made and where new ones are waiting. Imagine casting off from your private dock for a day on the Alafia River, knowing natural springs are right around the corner and Tampa Bay is just a 40 minute cruise away. Picture weekends spent unwinding in your screened-in, heated pool and spa with the river and your 1 acre property as a backdrop. Whether you’re hosting friends, watching wildlife drift past, or simply soaking in the peace of your backyard sanctuary, every moment here feels special. Inside, the home has been beautifully refreshed to meet today’s standards while preserving its one-of-a-kind charm. Original Spanish tile floors in the living areas add warmth and character, while the modernized kitchen—with stainless appliances and sleek cabinetry—makes everyday living easy. The primary suite is amazing, opening to the pool and spa, with a spa-inspired bathroom featuring a dual-head oversized shower and 2 walk-in closets. Guests will appreciate their own en-suite accommodations as well. The third bedroom offers flexibility for a small guest room or office. Recent upgrades include all-new plumbing (2024), a brand-new HVAC system, a new water heater (2025), and a roof replaced in 2018. Every bathroom has been updated with stone countertops and contemporary vanities, while new LVP flooring runs through the bedrooms. The home has remained high and dry through the years, with only one minor, professionally remediated flood event following Hurricane Milton. With no HOA restrictions, you can bring your boat, RV, and all your toys. Your dock—with covered boat lift, electricity, and water—makes waterfront living effortless. From here, a quick cruise brings you to local favorites like Tiki Docks or The Beer Shed, and within 20 minutes you can be in the heart of downtown Tampa. This is more than just a house on the Alafia. It’s a riverfront lifestyle rarely found in Tampa Bay.

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Location


Property Details


Parking

  • Description: Boat, Driveway, Garage Door Opener, Parking Pad, RV Parking
  • Details: Boat, Driveway, Garage Door Opener, Parking Pad, RV Access/Parking, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Slab
  • Roof Type: Gable or Hip
  • Roof Material: Shingle
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: U093020ZZZ000002850300
  • Lot Size: 39958 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1974

Tax Information

  • Annual Tax: $8,230

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Hillsborough

Listing Details


Listed by:
Julie Lawrence
BHHS FLORIDA PROPERTIES GROUP
(847) 736-2587

Source:
Stellar MLS
MLS#: TB8342149
Stellar MLS

Investment Summary


Monthly Cash Flow
-$2,063
Cap Rate
2.6%
Cash-on-Cash Return
-15.4%
Debt Coverage Ratio
0.42
Internal Rate of Return (5 years)
-10.9%

Purchase Details

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Purchase price:
$699,900
Amount financed:
-$559,920
Down payment:
$139,980
Closing costs:
$20,997
Rehab costs:
$0
Initial cash invested:
$160,977
Square feet:
2,011
Cost per square foot:
$348
Monthly rent per square foot:
$1.59

Financing Details

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Loan amount:
$559,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,585
Property tax:
$686
Insurance:
$224
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,495

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,200 $38,400
Vacancy loss: (6%)
6% -$192 -$2,304
Operating income:
$3,008 $36,096

Operating Expenses


% Rent Monthly Yearly
Property taxes: (21%)
21%-$686-$8,231
Insurance: (7%)
7%-$224-$2,688
Property management: (8%)
8%-$256-$3,072
Repairs & maintenance: (5%)
5%-$160-$1,920
Capital expenditures: (5%)
5%-$160-$1,920
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (46%)
46%-$1,486-$17,831

Cash Flow


Monthly Yearly
Net operating income:
$1,522 $18,264
Mortgage payments:
-$3,585 -$43,020
Cash flow:
-$2,063 -$24,756