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2472 Spinaker Ct Palm Harbor, FL 34683

3 Beds 2 Baths 1,434 sqft Built 1986

$330,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $230.13
  • 3 Days on Market
  • MLS # : T3283842
  • Updated Date : 01/09/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Stunning POOL home located in beautiful Crystal Beach Estates. Just a short drive from Palm Harbor University High School and the waters of Crystal Beach. Home has a beautiful exterior with new landscaping, new exterior paint, a new garage door, and a vinyl fence surrounding the property. The property has a BRAND NEW ROOF (2020) and the AC unit was installed in 2017. Once you step inside you'll see the beautiful open floor plan with brand new laminate flooring throughout. Home features knockdown ceilings, with fresh paint. The living room features custom built-ins and a cozy wood-burning fireplace with a granite hearth. Large master bedroom with a huge WALK-IN CLOSET and a private bathroom. Step out back to your own private oasis by the pool which features a screen enclosure and a fence to separate you from your neighbors. All of this with no HOA. You will be close to the Pinellas Trail, beaches, and in an amazing school district. Don't miss out!!

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

Neighborhood: Crystal Beach

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: Crystal Beach

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052044

* 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,146
Property Tax -$416
Property Insurance -$120
Property Management Fees -$129
CASH FLOW
-$30

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.

$330,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.54%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$21,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,796

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7803$2,0004$2,1255$2,400
$2,400
RENT COMPS ANALYSIS
  • 2472 Spinaker Ct Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.24
    •  
  • 791 16th Ln Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1981
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.21
    •  
  • 2448 Grove Ridge Dr Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1981
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.14
    •  
  • 466 Magnolia Ave Palm Harbor, FL 4
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.31
    •  
  • 1841 Georgia Ave Palm Harbor, FL 5
    • 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 1986
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.35
    •  
PROPERTY LISTING DETAILS
Ryan Fletcher
1.727.748.5068
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3283842
Last Updated: 01/09/2021
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