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12801 Palm Dr Largo, FL 33774

3 Beds 2 Baths 1,640 sqft Built 1987

$330,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $201.22
  • 3 Days on Market
  • MLS # : U8109143
  • Updated Date : 01/09/2021 at 08:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rlty Seminole

Listing Agent's Description

Just one and a half miles from highly sought after Indian Rocks Beach, this 3 bedroom, 2 bath home is tucked in one of Largo‘s best-situated streets! From the moment you drive up, you’ll fall in love with the oasis that awaits when you notice the creek that lines the side of the home beaming with lush tropical plants including banana trees. As you walk inside you will be taken away by the elegance with which the kitchen has been updated. Featuring stone countertops, stainless steel appliances, and a charming box window that invites you to look onto the beautiful creek that adorns the side of the house. The oversized kitchen island provides a place to enjoy your morning coffee and plenty of space to bake or meal prep. The spacious dining/living room combo adorned by a beautiful wood beam feels rich and elegant with the natural wood-burning fireplace and lots of light that penetrates through all the windows and skylight. A bonus room sits just beside, that can be set up as a playroom, a painters retreat, or a home office. The flooring has been fully updated throughout in high quality, water-resistant laminate plus new carpet in the master bedroom. All the rooms are incredibly spacious and both bathrooms have also been tastefully updated. You will enjoy many moments of happiness in your lush tropical back yard, plus the added bonus of a shed to store all your outdoor toys. The HVAC was replaced in 2019 and the roof offers over 10 years of life for added peace of mind. This property is conveniently located near plenty of dining options, grocery stores, and more!

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

Zip Code: 33774

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k243k

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

Zip Code: 33774

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8611854

* 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
Anona Elementary School Primary Regular 436 32 7
Seminole Middle School Middle Regular 1,159 68 5
Largo High School High Magnet 1,677 86 6

Anona Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 32
7
GreatSchools Rating

Seminole Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 68
5
GreatSchools Rating

Largo High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 86
6
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,146
Property Tax -$402
Property Insurance -$132
Property Management Fees -$129
CASH FLOW
$101

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.

$330,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.58%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$33,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,8953$1,9004$1,9105$2,000
$2,000
RENT COMPS ANALYSIS
  • 12801 Palm Dr Largo, FL 4
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.16
    •  
  • 12251 Mallory Dr Largo, FL 1
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1972
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.09
    •  
  • 11071 Iroquois Way Largo, FL 2
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 1973
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.24
    •  
  • 12619 137th Ln Largo, FL 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1971
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.13
    •  
  • 12300 145th Ln Largo, FL 5
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1983
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.20
    •  
PROPERTY LISTING DETAILS
Carolina Piamba
1.951.201.8144
Keller Williams Rlty Seminole
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8109143
Last Updated: 01/09/2021
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