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2008 3rd Ave W 
Palmetto, FL
34221
3 Beds 2 Baths 1,148 sqft
Built 2008
INVESTimate
$179,900
List Price
$53,424
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PROPERTY INFO
FACTS
- Built In 2008
- Price/Sqft : $156.71
- 2 Days on Market
- MLS # : A4476322
- Updated Date : 08/26/2020 at 01:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,148 sqft
- Baths : 2 full
Listing Agent
Unique Realty Of Manatee
Listing Agent's Description
Looking for a home with no deed restrictions, no CDD and no HOA fees! This 3 bedrooms 2 baths home with oversize lot with one car garage is waiting for you. Make an appointment to see it!! Located near schools, shopping areas and more.
SEE MORE
- 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.
- Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: West Ellenton
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Ellenton
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,360 |
| EXPENSES | Loan Payment | -$664 |
| Property Tax | -$184 | |
| Property Insurance | -$106 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
$326
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$179,900
PROJECTED PRICE
$1,360
PROJECTED RENT
0.76%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.34% |
| Appreciation Year (1-5) | 7.14% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.70% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$53,424
LOAN DETAILS
$664
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $44,975 |
| Loan Amount | $134,925 |
14.42
YEARS SAVED
$49,071
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,360
LIST RENT -
$1.18
LIST RENT PER SQFT
-
$1,351
COMP ESTIMATED VALUE -
$1.18
COMP AVG. RENT PER SQFT
Comps Range
-
2008 3rd Ave W Palmetto, 2
- 3 beds 2 baths ∙ 1,148 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,148 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $1,360
- $1.18
-
2612 8th Ave E Palmetto, 1
- 3 beds 2 baths ∙ 1,085 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,085 Sqft ∙ Built 2002
LEASED 09/03/19- Rent
- Rent Per SQFT
- $1,350
- $1.24
-
2318 11th Ave E Palmetto, 3
- 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2014
LEASED 04/02/20- Rent
- Rent Per SQFT
- $1,435
- $1.18
-
4528 3rd Ave W Palmetto, 4
- 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 2001
LEASED 08/10/19- Rent
- Rent Per SQFT
- $1,600
- $1.11
PROPERTY LISTING DETAILS
1.941.812.4368
Unique Realty Of Manatee
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4476322
Last Updated: 08/26/2020
