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15 Linden Ln Palm Harbor, FL 34683

3 Beds 2 Baths 2,483 sqft Built 1976

$499,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $200.97
  • 6 Days on Market
  • MLS # : U8110533
  • Updated Date : 01/21/2021 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,483 sqft
  • Baths : 2 full
Listing Agent

Smith & Associates Real Estate

Listing Agent's Description

Welcome to the lovely Westlake Village pool home. This 2,483 SF 3 bedroom, 2 bathroom, 2 car garage split bedroom plan plus office is full of upgrades you will love. It features a new roof, entire kitchen, garage door, water heater, floors, flooring and much more. This home is move in ready whenever you are. Westlake Village offers a wide variety of amenities for a low annual fee of $660. You have have access to the awesome 30+ acre park with jogging trail, junior Olympic sized pool, playgrounds, tennis, basketball and clubhouse. Close to quaint downtown Palm Harbor restaurants, shops, access to Pinellas Trail, US Hwy 19 N and the gorgeous beaches of Honeymoon Island. Call for your private showing today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Westlake Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k418k

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

Neighborhood: Westlake Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052550

* 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
Sutherland Elementary School Primary Regular 631 41 9
Palm Harbor Middle School Middle Regular 1,375 75 6
Palm Harbor University High School High Magnet 2,522 113 9

Sutherland Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 41
9
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
 

$449,100$548,900$499,000

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 -$1,733
Property Tax -$629
Property Insurance -$181
HOA -$55
Property Management Fees -$129
CASH FLOW
-$7

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.

$499,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.55%

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

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$35,487

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
  • $1.1

    LIST RENT PER SQFT
  • $2,762

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,585
1$2,5852$2,7203$2,8004$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 15 Linden Ln Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 2,483 Sqft ∙ Built 1976 3 beds 2 baths ∙ 2,483 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.10
    •  
  • 1448 Indian Trl N Palm Harbor, FL 1
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1983
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,585
    • $0.95
    •  
  • 230 Old Oak Cir Palm Harbor, FL 3
    • 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.13
    •  
  • 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
    •  
  • 565 High Pines Ct Palm Harbor, FL 5
    • 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1995
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.14
    •  
PROPERTY LISTING DETAILS
Pete Mustafaraj
1.727.494.5485
Smith & Associates Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110533
Last Updated: 01/21/2021
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