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298 Arbor Dr E 
Palm Harbor, FL
34683
3 Beds 2 Baths 1,518 sqft
Built 1984
INVESTimate
$300,000
List Price
$85,250
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PROPERTY INFO
FACTS
- Built In 1984
- Price/Sqft : $197.63
- 2 Days on Market
- MLS # : T3261137
- Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
- Beds : 3
- Floor Size : 1,518 sqft
- Baths : 2 full
Listing Agent
Florida Executive Realty
Listing Agent's Description
Nice and Neat. This home is immaculate. The home features a 3 bedroom split plan, 2 full baths and an eat in kitchen with a pantry. The home has newer appliances, brand new windows throughout and new water softener unit. The laundry room is inside the home and located in an extra-large storage area just within the garage area. The great room floor plan has plenty of room for entertaining. The lawn is well manicured and watered with reclaimed water and an irrigation system. An additional outdoor screened and paved patio adds to outdoor entertaining and family fun. The Homeowner’s Association is optional. This home is conveniently located to schools, shopping, beaches, entertainment venues, Pinellas Bike Trail and Tampa International Airport. All schools are A Rated and within walking distance and each school scored above average in standardized testing. Palm Harbor University High School was on the excellent list 3 years in a row!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 34683
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 34683
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,870 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$378 | |
| Property Insurance | -$124 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
$181
|
||
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.
$300,000
PROJECTED PRICE
$1,870
PROJECTED RENT
0.62%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.27% |
| Appreciation Year (1-5) | 3.28% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.26% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
9.58
YEARS SAVED
$47,651
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,870
LIST RENT -
$1.23
LIST RENT PER SQFT
-
$1,685
COMP ESTIMATED VALUE -
$1.11
COMP AVG. RENT PER SQFT
Comps Range
-
298 Arbor Dr E Palm Harbor, 4
- 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,870
- $1.23
-
226 Myrtle Ct Palm Harbor, 1
- 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1983
LEASED 12/02/19- Rent
- Rent Per SQFT
- $1,575
- $1.04
-
334 E Arbor Dr Palm Harbor, 2
- 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1984
LEASED 10/02/19- Rent
- Rent Per SQFT
- $1,600
- $1.12
-
1666 Spottswood Cir Palm Harbor, 3
- 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1986
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,850
- $1.10
-
1191 Mineola Cir Palm Harbor, 5
- 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1982
LEASED 04/03/20- Rent
- Rent Per SQFT
- $2,000
- $1.18
PROPERTY LISTING DETAILS
1.727.667.3278
Florida Executive Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: T3261137
Last Updated: 08/26/2020
