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1291 Blackrush Dr Tarpon Springs, FL 34689

3 Beds 3 Baths 2,589 sqft Built 2000

$379,900

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $146.74
  • 2 Days on Market
  • MLS # : W7828096
  • Updated Date : 11/03/2020 at 02:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,589 sqft
  • Baths : 2 full , 1 half
Listing Agent

Future Home Realty

Listing Agent's Description

Spacious 3 Bedroom, 2.5 Bath 2 Car Garage Home in River Watch on an Over Sized Lot! Soaring High Ceilings as you enter with Formal Living Room & Dining Room to you left. Updated Kitchen with Granite Counters, Tile Backsplash and Newer Stainless Steel Appliances (2016)! Family Room just off the Kitchen Ideal for Entertaining! Large Master Suite on the 2nd Flood with HUGE Walk-In Closet and Master Bath consisting of Dual Sinks with Granite counters, Soaking Tub and separate Shower Stall! Loft Area perfect for a Play Area or Office Space! Good sized 2nd & 3rd Bedrooms! Indoor Laundry for your Convenience! HUGE Fully Fenced in Lot with Endless Possibilities! NEW Roof (2019) 2 NEW HVAC's (2018) NEW Water Heater (2019) NEW Water Softener (2018) LET'S GET IT SOLD!!!

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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: 34689

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k279k

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

Zip Code: 34689

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781827

* 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
Tarpon Springs Elementary School Primary Regular 644 46 2
Tarpon Springs Middle School Middle Regular 873 46 4
Tarpon Springs High School High Magnet 1,402 69 6

Tarpon Springs Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 46
2
GreatSchools Rating

Tarpon Springs Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 46
4
GreatSchools Rating

Tarpon Springs High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 69
6
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,402
Property Tax -$484
Property Insurance -$187
HOA -$60
Property Management Fees -$80
CASH FLOW
$57

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.

$379,900

PROJECTED PRICE

$2,270

PROJECTED RENT

0.60%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$37,824

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,693

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,499
$2,499
RENT COMPS ANALYSIS
  • 1291 Blackrush Dr Tarpon Springs, FL 1
    • 3 beds 3 baths ∙ 2,589 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,589 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.88
    •  
  • 1773 River Watch Blvd Tarpon Springs, FL 2
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1999
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.04
    •  
PROPERTY LISTING DETAILS
John Brokalakis
1.727.403.9788
Future Home Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828096
Last Updated: 11/03/2020
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