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1446 Stonehenge Way Palm Harbor, FL 34683

3 Beds 2 Baths 1,560 sqft Built 1985

$380,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $243.59
  • 2 Days on Market
  • MLS # : U8104005
  • Updated Date : 11/07/2020 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Nestled in the cul-de-sac community of Wexford Leas this home is truly MOVE IN READY CONDITION AND GORGEOUS! OPEN FLOORPLAN boasts vaulted ceilings, multiple sliders out to your tropical oasis backyard. Kitchen is spacious with vaulted ceilings, a closet pantry, DOUBLE OVENS, SOLID SURFACE COUNTERS and plentiful space for a breakfast area. Primary suite renovation spared no expense adding sleek solid surface counter with double basin sinks, custom grey cabinets with built in linen closet and oversized shower with spa rocks under foot. Back guest bedroom offers pool access with a new slider. 3rd bedroom is HUGE and currently being used a media room would make a wonderful home office, gym or easily add a wall and have a 4th bedroom! NEW on trend tile like wood flooring in in primary, guest and both bathrooms! Lots of NEW = peace of mind. NEW ROOF (08/2020), NEW HVAC (01/2020). Hot water heater less than 2 years old! Water softener only 3 years old! HURRICANE IMPACT WINDOWS! Inground HEATED SALTWATER POOL with enclosure ONLY 4 YEARS OLD! PLUS outdoor firepit and immaculately manicured privacy fenced backyard. Low maintenance living with irrigation system and automatic garage door opener as well! ZONED FOR OZONA ELEMENTARY, PALM HARBOR MIDDLE AND PALM HARBOR UNIVERSITY! Less than 7 minutes to Dunedin Causeway, Honeymoon Island and only 2 miles to The Pinellas Trail!

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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: 34683

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 34683

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052198

* 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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,402
Property Tax -$479
Property Insurance -$127
HOA -$10
Property Management Fees -$80
CASH FLOW
$32

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.

$380,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.56%

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

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

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 $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$37,681

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0004$2,1305$2,250
$2,250
RENT COMPS ANALYSIS
  • 1446 Stonehenge Way Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.37
    •  
  • 1666 Spottswood Cir Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1986
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.13
    •  
  • 1191 Mineola Cir Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1982
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 787 Stonehenge Way Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1985
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 1405 Stonehenge Way Palm Harbor, FL 5
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1985
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.44
    •  
PROPERTY LISTING DETAILS
Amanda Lebiszczak
1.912.655.2774
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104005
Last Updated: 11/07/2020
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