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2984 Shannon Cir Palm Harbor, FL 34684

4 Beds 3 Baths 2,598 sqft Built 1993

$499,900

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $192.42
  • 2 Days on Market
  • MLS # : U8110900
  • Updated Date : 01/23/2021 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,598 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Realtec Group Inc

Listing Agent's Description

Honey stop the car! This 4 Bed, 2.5 Bath, 3 Car Garage, POOL Home located in the desirable Village at Bentley Park neighborhood is sure to impress with a GORGEOUS Updated Kitchen and a BREATHTAKING Master Suite/Bathroom that is fit for a King and Queen! Great curb appeal as you pull up to the long driveway of this 2 story home. Covered front entry, with double doors, and transom window. Enter the home and you will see the upgraded Engineered Wood Flooring throughout the first level, with 5 1/4 inch baseboards, and crown molding. The Living Room and Dining room space at the front of the home is spacious, and allows so many options for future owners. Storage under the stairs, mirrored wall, and window seat are great features. As you pass the dining room your eyes will light up when you see the AMAZING UPDATED DREAM KITCHEN! The kitchen is Light and Bright with gorgeous 42 inch Shaker Cabinet, High End Quartz Countertops, Stainless Steel Appliances, Upgraded finishes, and a trendy subway tile backsplash. You will think this kitchen was remodeled by the popular designers on HGTV! Eat-In Kitchen off main island provides great functionality. Spacious Family room off the kitchen with sliders that go to the pool area provide tons of natural light! Great for entertaining! Wood burning fire place with stylish mantel/trim. Half bath downstairs with updated vanity, mirror, and crown molding. As you venture upstairs, you will find 3 nicely sized secondary bedrooms that share the main full bath upstairs. Full bath with large vanity and double sink, Tub/Shower Combo with upgraded tile. Now for our favorite part, the Master Suite! Spacious Master Retreat with vaulted ceilings is oversized with additional space for a small office, etc. Large walk in closet, and second closet with ample storage space. The Master Bath is HUGE and has been BEAUTIFULLY UPGRADES with Travertine Tile, High End Custom Cabinets with Towel Rack, Additional Storage, Granite Countertops, Double sinks with upgraded faucets, Large Jacuzzi Tub. And Large Frameless Shower with dual shower heads. Other notable mentions: 2 AC Systems. Hurricane Protection on Sliders and Windows on Back of Home. Fully Fenced Yard. Pavered Side Walkway, Tankless Hot Water Heater, with additional Tank Hot Water Heater in garage for backup. Newly Blown Insulation in Attic (low electric bill). Water Softener System. Great Location- Close to County Parks, Trails, Beaches, Restaurants, Shopping, Top Rated Schools & Palm Harbor University High.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Bentley Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $85k282k

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

Neighborhood: Bentley Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8782044

* 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
Highland Lakes Elementary School Primary Regular 575 41 8
Joseph L. Carwise Middle School Middle Regular 1,067 60 7
Palm Harbor University High School High Magnet 2,522 113 9

Highland Lakes Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 41
8
GreatSchools Rating

Joseph L. Carwise Middle School

  • Education Level: Middle
  • # of students: 1,067
  • # of teachers: 60
7
GreatSchools Rating

Palm Harbor University High School

  • Education Level: High
  • # of students: 2,522
  • # of teachers: 113
9
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,736
Property Tax -$630
Property Insurance -$188
HOA -$15
Property Management Fees -$129
CASH FLOW
-$77

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.

$499,900

PROJECTED PRICE

$2,620

PROJECTED RENT

0.52%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$28,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,897

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6204$2,8005$3,100
$3,100
RENT COMPS ANALYSIS
  • 2984 Shannon Cir Palm Harbor, FL 3
    • 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.01
    •  
  • 1801 Eagle Trace Blvd Palm Harbor, FL 1
    • 3 beds 3 baths ∙ 2,487 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,487 Sqft ∙ Built 1992
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.05
    •  
  • 4100 Boyd Ln Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 2,403 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,403 Sqft ∙ Built 1994
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.08
    •  
  • 230 Old Oak Cir Palm Harbor, FL 4
    • 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,482 Sqft ∙ Built 1993
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.13
    •  
  • 2336 Pinnacle Cir N Palm Harbor, FL 5
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1992
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.20
    •  
PROPERTY LISTING DETAILS
Cindy Fazzini
1.727.485.9981
Re/max Realtec Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110900
Last Updated: 01/23/2021
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