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214 Normandy Cir W Palm Harbor, FL 34683

5 Beds 3 Baths 2,666 sqft Built 1978

$466,900

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $175.13
  • 3 Days on Market
  • MLS # : U8107036
  • Updated Date : 12/12/2020 at 14:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,666 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prime Int'l Real Estate Group

Listing Agent's Description

Palm Harbor Gem that will not last!! Home is immaculate, and custom built by original owners. Layout and spacious pool area make this home an entertainers dream! Brand New appliances in the kitchen were just added. Split floor plan, ideal for all types of lifestyles. Located near Palm Harbor University and other 'A' rated Pinellas County Schools. Live and Love the Highly sought after Palm Harbor lifestyle! Best of Both Worlds, close to top rated Honeymoon Island State Park as well as Caladesi Island. Call Today to arrange your private showing!

SEE MORE

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: Allen's Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k445k

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

Neighborhood: Allen's Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052610

* 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
 

$420,210$513,590$466,900

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,723
Property Tax -$588
Property Insurance -$192
Property Management Fees -$129
CASH FLOW
$289

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.

$466,900

PROJECTED PRICE

$2,920

PROJECTED RENT

0.63%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$129,479

INVESTMENT

$129,479

Down Payment
$116,725
Rehab Estimate
$5,750
Closing Costs
$7,004

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,723

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,725
Loan Amount $350,175
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$75,392

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,986

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8503$2,8954$2,9205$3,100
$3,100
RENT COMPS ANALYSIS
  • 214 Normandy Cir W Palm Harbor, FL 4
    • 5 beds 3 baths ∙ 2,666 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,666 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.10
    •  
  • 230 Old Oak Cir Palm Harbor, FL 1
    • 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.13
    •  
  • 1749 Painted Bunting Cir Palm Harbor, FL 2
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1994
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.03
    •  
  • 857 Belted Kingfisher Dr S Palm Harbor, FL 3
    • 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1989
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.18
    •  
  • 565 High Pines Ct Palm Harbor, FL 5
    • 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 1995
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.14
    •  
PROPERTY LISTING DETAILS
Miguel Delgado
1.727.259.4365
Prime Int'l Real Estate Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107036
Last Updated: 12/12/2020
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