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3464 70th Gln E Palmetto, FL 34221

3 Beds 2 Baths 1,516 sqft Built 2005

$315,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $207.78
  • 3 Days on Market
  • MLS # : T3295528
  • Updated Date : 03/13/2021 at 14:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,516 sqft
  • Baths : 2 full
Listing Agent

Re/max Realty Unlimited

Listing Agent's Description

This three bedroom, two bathroom farmhouse style POOL home in Palmetto looks as though it jumped right out of an HGTV tv show! The home begins with a large entryway where the soft colors throughout are instantly noticed. This home features a downstairs master bedroom with an ensuite bath and spacious walk in closet. Abundant light filters through two bay windows with bump-out seating areas facing the private pool. The kitchen features trendy subway tile backsplash, beautiful stainless steel appliances, and a large sliding door that offers easy access to the pool area for entertaining guests. Behind the lanai is a yard with plenty of space for your pets. A spacious garage seals the deal on this dreamy home. This home is located conveniently near the I75/275 interchange and US 41. Buffalo Creek Golf Course & Park offers the perfect getaway less than 5 miles from home. HIGHEST AND BEST due by Sunday, 3/14/21 at 6pm.

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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

Neighborhood: Parkside

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k297k

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

Neighborhood: Parkside

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10372041

* 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
Tillman Elementary Magnet School Primary Magnet 556 37 4
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Tillman Elementary Magnet School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 37
4
GreatSchools Rating

Buffalo Creek Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 54
5
GreatSchools Rating

Palmetto High School

  • Education Level: High
  • # of students: 2,076
  • # of teachers: 93
3
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,094
Property Tax -$321
Property Insurance -$129
HOA -$71
Property Management Fees -$129
CASH FLOW
-$24

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,607

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6993$1,7204$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 3464 70th Gln E Palmetto, FL 3
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.13
    •  
  • 8930 Founders Cir Palmetto, FL 1
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 3323 70th Ct E Palmetto, FL 2
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2005
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.01
    •  
  • 3416 77th Ct E Palmetto, FL 4
    • 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 2018
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
  • 4715 32nd Ave E Palmetto, FL 5
    • 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2004
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
Angie Barber
1.785.512.0558
Re/max Realty Unlimited
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3295528
Last Updated: 03/13/2021
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