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244 Myrtle Ct Palm Harbor, FL 34683

3 Beds 2 Baths 1,356 sqft Built 1983

$325,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $239.68
  • 2 Days on Market
  • MLS # : U8105985
  • Updated Date : 11/28/2020 at 18:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Don't delay in seeing this beautifully updated home in Palm Harbor! Well maintained from the outside to the inside! NEW ROOF being installed!!! The interior features 3 large bedrooms, 2 updated bathrooms, 2 car garage and an amazing pool area that you will love!!! The great-room is oversized with cathedral ceilings, crown molding and overlooks the dining area and updated kitchen with maple cabinetry (soft-close drawers), granite counters, s/s appliances. The master bedroom is spacious with his/her closets and private updated bathroom. The two guest rooms have walk in closets and share another updated bathroom! Everyone will love the beautiful lanai area with covered/screened patio and private hot tub! The newer pool cage boasts a gorgeous resurfaced pool (Pebble Tec) 2020. The pool filter and pump replaced in 2015, pool light 2020! Fenced yard with a large shed and room on the side of the house to park the recreational vehicles!! Other updates include: AC 2020, ducts replaced 2016 and hot water heater 2017. Tile flooring throughout. Top rated schools: PH University High, PH Middle and Ozona Elementary!! Minutes to Honeymoon Island State Park, Pinellas Trail, local parks and retail stores. This will go fast!

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

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
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,199
Property Tax -$409
Property Insurance -$115
HOA -$3
Property Management Fees -$80
CASH FLOW
$74

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.

$325,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.58%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$37,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8803$1,9954$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 244 Myrtle Ct Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.39
    •  
  • 314 Overstreet Ct Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 1985
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.58
    •  
  • 933 Woodland Dr Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1978
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.28
    •  
  • 160 Tangelo Dr Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1981
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.42
    •  
  • 1405 Stonehenge Way Palm Harbor, FL 5
    • 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,560 Sqft ∙ Built 1985
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.44
    •  
PROPERTY LISTING DETAILS
Linda Caruso
1.727.410.7501
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8105985
Last Updated: 11/28/2020
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