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1620 Navigator Ln Tarpon Springs, FL 34689

4 Beds 2 Baths 1,685 sqft Built 1994

$295,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $175.07
  • 3 Days on Market
  • MLS # : U8108843
  • Updated Date : 01/08/2021 at 18:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,685 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Light and bright 4 bedroom, 2 bath, 2 car garage, at a great price and in a great neighborhood in Tarpon Springs.

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: 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,025
Property Tax -$376
Property Insurance -$134
HOA -$18
Property Management Fees -$129
CASH FLOW
$109

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.

$295,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.61%

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$31,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,912

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,7904$1,8505$2,049
$2,049
RENT COMPS ANALYSIS
  • 1620 Navigator Ln Tarpon Springs, FL 3
    • 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.06
    •  
  • 601 Cypress Park Ave Tarpon Springs, FL 1
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2003
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.11
    •  
  • 1446 Watermill Cir Tarpon Springs, FL 2
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 1464 Ridge Shore Dr Tarpon Springs, FL 4
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 1990
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.21
    •  
  • 1773 Biarritz Cir Tarpon Springs, FL 5
    • 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 1995
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,049
    • $1.22
    •  
PROPERTY LISTING DETAILS
Renee Gialousis
1.727.234.3353
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108843
Last Updated: 01/08/2021
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