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1048 Suwanee St Safety Harbor, FL 34695

3 Beds 3 Baths 2,924 sqft Built 1984

$485,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $165.87
  • 6 Days on Market
  • MLS # : U8108494
  • Updated Date : 12/31/2020 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,924 sqft
  • Baths : 3 full
Listing Agent

Renaissance Real Estate

Listing Agent's Description

Double lot with lots of beautiful Oak trees 2 blocks from downtown Safety Harbor. 3 bedroom 2 bath upstairs with huge back porch. Large game room, Mother in law or media room downstairs with it's own bathroom. Entry on the first floor is perfect for an office. Two separate garages on either side of the entry with a big workshop behind. Additional long garage 12 x 48 along the back of the house. It's like a Florida basement. Bring your toys. Huge front driveway for plenty of cars or a boat. This home needs a lot of work so Cash or Renovation loan only. Needs a roof, garage doors, new central heat and air. Bring your tools and make this your own home.

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: 34695

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 34695

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052069

* 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
Safety Harbor Elementary School Primary Regular 662 47 7
Safety Harbor Middle School Middle Regular 1,319 75 5
Countryside High School High Regular 2,175 106 5

Safety Harbor Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 47
7
GreatSchools Rating

Safety Harbor Middle School

  • Education Level: Middle
  • # of students: 1,319
  • # of teachers: 75
5
GreatSchools Rating

Countryside High School

  • Education Level: High
  • # of students: 2,175
  • # of teachers: 106
5
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$1,789
Property Tax -$578
Property Insurance -$207
Property Management Fees -$129
CASH FLOW
$297

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.

$485,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.3%
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$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$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$78,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $3,255

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1453$3,2004$3,500
$3,500
RENT COMPS ANALYSIS
  • 1048 Suwanee St Safety Harbor, FL 1
    • 3 beds 3 baths ∙ 2,924 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,924 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.03
    •  
  • 140 Woodcreek Dr E Safety Harbor, FL 2
    • 4 beds 4 baths ∙ 3,240 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,240 Sqft ∙ Built 1991
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,145
    • $0.97
    •  
  • 2416 Huntington Blvd Safety Harbor, FL 3
    • 4 beds 3 baths ∙ 3,048 Sqft ∙ Built 1987 4 beds 3 baths ∙ 3,048 Sqft ∙ Built 1987
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.05
    •  
  • 1005 Chatham Ct Safety Harbor, FL 4
    • 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 1987
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.32
    •  
PROPERTY LISTING DETAILS
Diane Turscak
1.727.638.1080
Renaissance Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108494
Last Updated: 12/31/2020
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