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1552 Pennsylvania Ave Palm Harbor, FL 34683

3 Beds 2 Baths 1,633 sqft Built 2001

$349,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $214.27
  • 3 Days on Market
  • MLS # : U8106388
  • Updated Date : 12/05/2020 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,633 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

BEAUTIFUL 3 BEDROOM, 2 BATH, 2 CAR GARAGE NESTLED IN QUAINT OLD PALM HARBOR! THE LARGE GOURMET KITCHEN WITH ABUNDANT CABINETS, CONVENIENT COOKING ISLAND, CERAMIC TILE FLOORING, BREAKFAST BAR WITH EAT-IN KITCHEN /BREAKFAST NOOK, CLOSET PANTRY AND PLANT SHELVES OPENS TO THE FAMILY ROOM! DOUBLE FRENCH DOORS INVITES YOU TO SUPER LARGE COVERED SCREENED LANAI OVERLOOKING THE SPACIOUS PRIVATE YARD COMPLETED WITH VINYL PRIVACY FENCE AND 12X16 STORAGE SHED. SIDE WALKS AROUND THE BACK AND SIDE YARDS FOR EASY ACCESS AND MAINTENANCE. YOU WILL ENJOY MANY GATHERINGS AND COOK OUTS WITH FRIENDS AND FAMILY OR PERHAPS COFFEE IN THE MORNING AS YOU WATCH THE BIRDS CHASE EACH OTHER AND THE SERENITY. THERE ARE GREAT OUTDOOR VIEWS FROM EVERY ROOM. THE OVERSIZED MASTER BEDROOM HAS A SEPARATE LINEN CLOSET AND ENORMOUS WALK IN CLOSET! THE MASTER BATHROOM HAS A DOUBLE SINK VANITY, A LUXURIOUS GARDEN TUB AND THE LARGEST SEPARATE WALK IN SHOWER YOU HAVE SEEN! THE SECONDARY BEDROOMS ARE SEPARATED FOR PRIVACY AND YOU WILL APPRECIATE THE EXTRA STORAGE IN THE HALLWAY! NICE SIZED INSIDE LAUNDRY CONVENIENTLY LOCATED AS YOU WALK OUT TO THE GARAGE WITH HANDY SHELVING. ALL THIS PAIRED WITH AN OVERSIZED 2 CAR GARAGE EXTRA DEEP FOR YOUR GOLF CART, PARK YOUR PICK-UP TRUCK OR THE GARAGE TINKERER IN THE FAMILY. OLD PALM HARBOR IS GOLF CART FRIENDLY AND ALL STREETS IN PALM HARBOR HAVE BEEN APPROVED FOR GOLF CART DRIVING TO OVER 16 RESTAURANTS IN DOWNTOWN PALM HARBOR, SPEECHLESS AWESOME SUNSETS TO WATCH EVERY EVENING AND MINUTES TO THE PINELLAS TRAIL TO BIKE, RUN, WALK OR ROLLERBLADE. A COMMUNITY DESIGNED FOR ACTIVE LIFESTYLE WITH THE BOAT RAMP 5 MINUTES AWAY TO LAUNCH YOUR JET SKIS, KAYAKS, CANOES OR FISH! THE GREATER PALM HARBOR YMCA IS A 3 MINUTE WALK AND THERE ARE NO NEIGHBORS ACROSS THE STREET! NO FLOOD INSURANCE, NO DEED RESTRICTIONS SO BRING YOUR BOAT OR RV ALONG TOO! FLAG POLE DOES CONVEY. GOD BLESS OUR COUNTRY! RECLAIM WATER AND NATURAL GAS ARE AVAILABLE FOR HOOK UP IF DESIRED. BRAND NEW AC IN 2020

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,291
Property Tax -$441
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
$18

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.

$349,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.57%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$33,980

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,070

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0103$2,1004$2,1995$2,400
$2,400
RENT COMPS ANALYSIS
  • 1552 Pennsylvania Ave Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $1.23
    •  
  • 2004 Citrus Hill Ln Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1981
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.28
    •  
  • 2030 Hidden Lake Dr Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1984
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.16
    •  
  • 494 Still Meadows Cir W Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1986
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.28
    •  
  • 1841 Georgia Ave Palm Harbor, FL 5
    • 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1986
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.35
    •  
PROPERTY LISTING DETAILS
Gail Johnston
1.727.422.5505
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106388
Last Updated: 12/05/2020
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