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1162 Ridgecrest Ct Palm Harbor, FL 34683

3 Beds 3 Baths 2,196 sqft Built 1980

$424,900

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $193.49
  • 6 Days on Market
  • MLS # : T3284767
  • Updated Date : 02/02/2021 at 16:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,196 sqft
  • Baths : 3 full
Listing Agent

10 Stars Property Management Llc

Listing Agent's Description

WOW!!! Completely remodeled 3 bedrooms & 3 bath 2 car garage home in no flood zone! It offers a floor plan with almost 2200 sqft and 2 master suites with on suite bathrooms! New wood kitchen cabinets with soft close technology, new exquisite granite counter tops and new stainless steel appliance package. Completely remodeled bathrooms with new tile & vanities . Repainted inside and out. We can add to the list a new roof, new windows, new AC systems, new switches and plugs, new electric water heater, new doors, revised electrical panel, new plumbing fixtures, new lighting fixtures and new waterproof floors through out the house! GIGANTIC Master bedroom with 3 closets! On suite big master bath with beautiful stand up shower! Beautiful fenced in yard so your pet can enjoy running around in privacy! Niche & extremely sought after area located less then 5 minutes away from malls, shops, major roads yet tucked in a quite and beautiful neighborhood! Deed Restricted community with Park, Playground, Tennis Courts, Water Access. Come see your home today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k394k

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

Neighborhood: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9052370

* 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
Ozona Elementary School Primary Regular 726 51 6
Palm Harbor Middle School Middle Regular 1,375 75 6
Palm Harbor University High School High Magnet 2,522 113 9

Ozona Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 51
6
GreatSchools Rating

Palm Harbor Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 75
6
GreatSchools Rating

Palm Harbor University High School

  • Education Level: High
  • # of students: 2,522
  • # of teachers: 113
9
GreatSchools Rating
 

$382,410$467,390$424,900

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,476
Property Tax -$535
Property Insurance -$164
HOA -$41
Property Management Fees -$129
CASH FLOW
$375

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.

$424,900

PROJECTED PRICE

$2,720

PROJECTED RENT

0.64%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

10.83

YEARS SAVED

$68,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,761

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,7203$2,8004$3,0005$3,295
$3,295
RENT COMPS ANALYSIS
  • 1162 Ridgecrest Ct Palm Harbor, FL 2
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.24
    •  
  • 180 Woodcutter Ln Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1981
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.13
    •  
  • 2930 Enisgrove Dr Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1980
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
  • 1455 Treetop Dr Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 2,431 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,431 Sqft ∙ Built 1985
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
  • 336 Brookside Ct Palm Harbor, FL 5
    • 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 1999
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.39
    •  
PROPERTY LISTING DETAILS
Chant Karajian
1.813.810.7099
10 Stars Property Management Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284767
Last Updated: 02/02/2021
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