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1849 Citrus Hill Rd Palm Harbor, FL 34683

3 Beds 3 Baths 1,524 sqft Built 1979

$350,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $229.66
  • 3 Days on Market
  • MLS # : T3287587
  • Updated Date : 01/30/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,524 sqft
  • Baths : 3 full
Listing Agent

Star Bay Realty Corp.

Listing Agent's Description

Beautiful full renovated 3 bedroom 3 baths single family home in Beacon Groves, a sought out community. Home offers brand new kitchen with quartz counter tops, full renovated bathrooms, vinyl flooring throughout the entire home. Brand new roof, Brand new AC, Brand new Stainless steel appliances. Offers 2 masters each with its own bathroom and a 3 bedroom with its own bathroom as well. Come and take a look at this Gem. All measurements are a estimate, please do your own measurements.

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MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Beacon Groves

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: Beacon Groves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052044

* 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,216
Property Tax -$441
Property Insurance -$125
Property Management Fees -$129
CASH FLOW
-$70

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.

$350,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.53%

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$19,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,935

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8403$1,9254$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1849 Citrus Hill Rd Palm Harbor, FL 2
    • 3 beds 3 baths ∙ 1,524 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,524 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.21
    •  
  • 2001 Groveland Rd Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1980
    property image
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.14
    •  
  • 1794 E Groveleaf Ave Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1980
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.36
    •  
  • 2282 Grovecrest Ave Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1981
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.27
    •  
  • 1691 E Grovehill Rd Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1980
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.31
    •  
PROPERTY LISTING DETAILS
Victor Carranza
1.727.902.0751
Star Bay Realty Corp.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287587
Last Updated: 01/30/2021
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