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2018 Hidden Lake Dr Palm Harbor, FL 34683

4 Beds 3 Baths 2,082 sqft Built 1980

$499,500

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $239.91
  • 3 Days on Market
  • MLS # : U8112208
  • Updated Date : 02/05/2021 at 22:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,082 sqft
  • Baths : 3 full
Listing Agent

Select Properties Inc

Listing Agent's Description

SPECTACULAR RENOVATED 4 BEDROOM 3 BATH LAKE FRONT HOME IN HIGHLY SOUGHT AFTER PALM HARBOR LOCATION.STUNNING LAKE VIEWS THROUGHOUT THIS BEAUTIFUL UPDATED HOME.FABULOUS KITCHEN FEATURES UPGRADED QUARTZ COUNTERTOPS,42 INCH SHAKER STYLE WOOD CABINETRY W/CROWN MOLDING AND LG STAINLESS STEEL APPLIANCES INCLUDING FRENCH DOOR REFRIGERATOR AND STAINLESS STEEL VENTILATION SYSTEM BUILT OVER RANGE.3 GORGEOUS NEW BATHS WITH CUSTOM FRAMELESS GLASS ENCLOSED WALK IN SHOWER AT MASTER BATH,ALL QUARTZ COUNTERTOPS,SHAKER STYLE CABINETRY,PORCELAIN FLOORING,TOILETS,PLUMBING AND LIGHTING FIXTURES.HUGE MASTER BEDROOM FEATURES SCENIC LAKEVIEWS AND A SPACIOUS WALK IN CLOSET.SPACIOUS BEDROOMS 2,3 AND 4 ALL WITH AMPLE CLOSET SPACE.LARGE GREATROOM FEATURES OUTSTANDING WATER VIEWS ON EITHER SIDE OF THE UPDATED FIREPLACE,CASUAL STYLE DINING ROOM WITH CUSTOM LIGHTING FIXTURE.ALL NEW UPGRADED VINYL WOOD LOOK FLOORING THROUGHOUT, CROWN MOLDING THRU ENTIRE INTERIOR OF HOME.5 &1/4 INCH BASEBOARDS,NEW INTERIOR AND EXTERIOR ENTRY DOORS,NEW INTERIOR AND EXTERIOR PAINT,ALL NEW PLUMBING AND LIGHTING FIXTURES INCLUDING SHUT OFF VALVES AND LED LIGHTING.ALL NEW INTERIOR 2 INCH FAUX WINDOW BLINDS AND VERTICAL BLINDS ON SLIDING DOORS.INTERIOR LAUNDRY ROOM WITH NEW WATER BASIN.OVERSIZED 2 CAR SIDE ENTRY GARAGE WITH ADDITIONAL STORAGE AREA ADDED TO HOME AND A NEW GARAGE DOOR AND SIDE ENTRY DOOR.WELL LANDSCAPED HOMESITE WITH UPDATED IRRIGATION SYSTEM ON RECLAIMED WATER.NEW SCREENED IN REAR LANIA FINISHED WITH CUSTOM TONGUE AND GROVE STYLE CEILING.AC SYSTEM INSTALLED IN 2018 AND DIMENSIONAL 25 YEAR SHINGLE ROOF IN 2003. ALL OF THIS ON A BEAUTIFUL HIDDEN LAKE WATERFRONT HOMESITE!!! OUTSTANDING LOCATION NEAR SEVERAL GULF BEACHES,STATE PARKS,GROCERY,RETAIL SHOPPING,RESTAURANTS,HOSPITALS,MD OFFICES,MARINA'S,GOLF COURSES AND THE FAMOUS PINELLAS TRAIL.OUTSTANDING PALM HARBOR SCHOOL DISTRICT WITH A 2 MINUTE WALK TO PALM UNIVERSITY HIGH SCHOOL!!!

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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

Neighborhood: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $91k394k

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

Neighborhood: Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9052370

* 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
 

$449,550$549,450$499,500

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,735
Property Tax -$629
Property Insurance -$157
HOA -$41
Property Management Fees -$129
CASH FLOW
-$92

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.

$499,500

PROJECTED PRICE

$2,600

PROJECTED RENT

0.52%

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-$5.0k$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$138,118

INVESTMENT

$138,118

Down Payment
$124,875
Rehab Estimate
$5,750
Closing Costs
$7,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,735

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,875
Loan Amount $374,625
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$27,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,727

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,6003$2,8004$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 2018 Hidden Lake Dr Palm Harbor, FL 2
    • 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,082 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.25
    •  
  • 2030 Hidden Lake Dr Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1984
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.16
    •  
  • 2930 Enisgrove Dr Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1980
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
  • 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
    •  
  • 15 Pinewood Ter E Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 2,034 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,034 Sqft ∙ Built 1979
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.57
    •  
PROPERTY LISTING DETAILS
Frank Acerra
1.727.410.9849
Select Properties Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112208
Last Updated: 02/05/2021
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