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2651 Finch Ct Palm Harbor, FL 34684

3 Beds 2 Baths 1,060 sqft Built 1984

$254,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $240.47
  • 5 Days on Market
  • MLS # : U8108151
  • Updated Date : 12/24/2020 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,060 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

UPDATED & UPGRADED! This stunning 3 bed / 2 bath Palm Harbor ranch has received a new roof 2017, new HVAC 2017, newer granite counters, stainless steel appliances, resurfaced cabinetry. Step inside to tile flooring, the remodeled bar-top kitchen, dining room and great room, and formal living with an exit to the verandah & fenced back yard; perfect for entertaining guests! Accommodating master suite with carpet and an en-suite bath with tile, tub, and beautiful vanity. Carpet in the second bedroom as well, complimented by a family bath with a new vanity & marble top and walk-in shower! This ranch has the layout, upgrades & amenities that your family & friends will love, schedule your tour right away! Close to elementary school, multiple shopping centers, golf courses & more!

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: Lake St. George

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $67k343k

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

Neighborhood: Lake St. George

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7532044

* 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
Lake St. George Elementary School Primary Regular 590 42 6
Palm Harbor Middle School Middle Regular 1,375 75 6
Countryside High School High Regular 2,175 106 5

Lake St. George Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 42
6
GreatSchools Rating

Palm Harbor Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 75
6
GreatSchools Rating

Countryside High School

  • Education Level: High
  • # of students: 2,175
  • # of teachers: 106
5
GreatSchools Rating
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$940
Property Tax -$321
Property Insurance -$98
HOA -$8
Property Management Fees -$129
CASH FLOW
$103

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.

$254,900

PROJECTED PRICE

$1,600

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$35,061

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5504$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2651 Finch Ct Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.51
    •  
  • 3836 Green Dolphin Dr Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,035 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,035 Sqft ∙ Built 1983
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.44
    •  
  • 2698 Kavalier Dr Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 1,035 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,035 Sqft ∙ Built 1982
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.50
    •  
  • 3625 Margery Ct Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,055 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,055 Sqft ∙ Built 1985
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.47
    •  
  • 2657 Finch Ct Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1984
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.60
    •  
PROPERTY LISTING DETAILS
Edward Gentle
1.727.543.6575
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108151
Last Updated: 12/24/2020
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