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246 Highland Rd Tarpon Springs, FL 34689

3 Beds 2 Baths 1,705 sqft Built 2007

$322,500

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $189.15
  • 3 Days on Market
  • MLS # : T3297081
  • Updated Date : 03/26/2021 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,705 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Welcome home to this beautiful 3/2 single-family home located in the highly desirable Harbor Woods community. This immaculate home is located on a quiet dead-end street and boasts newer Trane AC (2019), dual pane windows, stainless steel appliances, tile backsplash, solid wood cabinets, stone counters, cherry hardwood floors, ceilings fans, smart Nest thermostat and tons of natural light throughout. The master bedroom boasts a large ensuite bathroom with dual sinks, a tiled walk-in shower and a large walk-in closet. When you step out back you will find mature oaks, large paver patio, a fully fenced yard, and an automated irrigation system to help maintain the beautiful lawn. Location! Location! Location! Located just minutes from Innisbrook a top PGA-rated golf course, Tarpon Springs Sponge Docks, Sunset Beach, Anderson Park and boat launch, the Pinellas Trail, and award-winning restaurants. NO HOA and no flood insurance required, Call today for your exclusive viewing.

SEE MORE

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

Zip Code: 34689

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k279k

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

Zip Code: 34689

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781827

* 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
Sunset Hills Elementary School Primary Regular 543 36 7
Tarpon Springs Middle School Middle Regular 873 46 4
Tarpon Springs High School High Magnet 1,402 69 6

Sunset Hills Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 36
7
GreatSchools Rating

Tarpon Springs Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 46
4
GreatSchools Rating

Tarpon Springs High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 69
6
GreatSchools Rating
 

$290,250$354,750$322,500

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,120
Property Tax -$413
Property Insurance -$135
Property Management Fees -$129
CASH FLOW
$102

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.

$322,500

PROJECTED PRICE

$1,900

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,213

INVESTMENT

$91,213

Down Payment
$80,625
Rehab Estimate
$5,750
Closing Costs
$4,838

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,120

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,625
Loan Amount $241,875
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$32,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8293$1,8504$1,9005$1,975
$1,975
RENT COMPS ANALYSIS
  • 246 Highland Rd Tarpon Springs, FL 4
    • 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,705 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.11
    •  
  • 820 Compass Cir Tarpon Springs, FL 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1994
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 1763 Meadow Oak Ln Tarpon Springs, FL 2
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2000
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,829
    • $1.09
    •  
  • 1416 Gulf Rd Tarpon Springs, FL 3
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 2110 Trevor Rd Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1992
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.12
    •  
PROPERTY LISTING DETAILS
Tison Velez
1.813.356.8565
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3297081
Last Updated: 03/26/2021
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