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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

$1,870

$1,683 - $2,057

Rent Est.

$309,840  ( +3.28%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
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!

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MARKET HIGHLIGHTS

  • 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

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

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
$1,575
1$1,5752$1,6003$1,8504$1,8705$2,000
$2,000
RENT COMPS ANALYSIS
  • 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
Dawn Buck
1.727.667.3278
Florida Executive Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261137
Last Updated: 08/26/2020
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