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2287 E Orangehill Ave Palm Harbor, FL 34683

3 Beds 1 Baths 1,136 sqft Built 1983

$229,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $202.38
  • 1 Days on Market
  • MLS # : U8129968
  • Updated Date : 07/13/2021 at 15:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,136 sqft
  • Baths : 1 full
Listing Agent

Select Properties Inc

Listing Agent's Description

PALM HARBOR 3 BEDROOM 1 BATH HOME IN EXCELLANT LOCATION.VAULTED CEILINGS,NEUTRAL COLORS.FLOOR PLAN OFFERS LIVING ROOM/DINING ROOM COMBINATION.CERAMIC TILE FLOORS THROUGHOUT.ADORABLE KITCHEN.LARGE FENCED IN HOMESITE.SPACIOUS BEDROOMS.LARGE INSIDE LAUNDRY ROOM.LOCATED IN HIGHLY SOUGHT AFTER PALM HARBOR SCHOOL DISTRICT.CLOSE TO MAJOR SHOPPING,RESTARAUNTS,MARINA'S AND BEACHES!!CUTE AS A BUTTON.

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 34683

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 34683

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052198

* 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
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$799
Property Tax -$290
Property Insurance -$102
Property Management Fees -$129
CASH FLOW
$31

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.

$229,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.59%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$20,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,451

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4953$1,5954$1,6005$1,675
$1,675
RENT COMPS ANALYSIS
  • 2287 E Orangehill Ave Palm Harbor, FL 1
    • 3 beds 1 baths ∙ 1,136 Sqft ∙ Built 1983 3 beds 1 baths ∙ 1,136 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.19
    •  
  • 2379 N Citrus Way Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1978
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.17
    •  
  • 1924 E Orangeside Rd Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1980
    property image
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.23
    •  
  • 2569 Summit St Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1981
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.42
    •  
  • 2130 Orangeside Rd Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1978
    property image
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.29
    •  
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 #: U8129968
Last Updated: 07/13/2021
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