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3614 Glenmac Ct Palm Harbor, FL 34684

3 Beds 2 Baths 1,006 sqft Built 1985

$195,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $193.84
  • 2 Days on Market
  • MLS # : T3296229
  • Updated Date : 03/20/2021 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,006 sqft
  • Baths : 1 full , 1 half
Listing Agent

10 Stars Property Management Llc

Listing Agent's Description

BEAUTIFUL VILLA IN WELL ESTABLISHED COMMUNITY OF LAKE ST GEORGE OF PALM HARBOR - LOW HOA - NO CDD. THIS HOME OFFERS 3 BEDROOM/1.5 BATH AND STORAGE/GARAGE PLUS DRIVEWAY. FRESHLY PAINTED, NEW CARPETS, VAULTED CEILINGS, INSIDE LAUNDRY HOOK UPS AND ENCLOSED PORCH AREA. HUGE YARD WITH PRIVATE ACCESS FROM THE STREET. NO AGE RESTRICTIONS. CENTRALLY LOCATED WITH EASY ACCESS TO MAJOR HIGHWAYS, GREAT GOLF COURSES, SCHOOLS, SHOPPING AND ENTERTAINMENT.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$677
Property Tax -$246
Property Insurance -$95
HOA -$7
Property Management Fees -$129
CASH FLOW
$107

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.

$195,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$25,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,426

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,4953$1,4954$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 3614 Glenmac Ct Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,006 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,006 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.25
    •  
  • 3836 Green Dolphin Dr Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 1,035 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,035 Sqft ∙ Built 1983
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.44
    •  
  • 3646 Bridle Ct Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,072 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,072 Sqft ∙ Built 1985
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.39
    •  
  • 3625 Margery Ct Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,055 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,055 Sqft ∙ Built 1985
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.47
    •  
  • 686 Bellingham Pl Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1987
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.37
    •  
PROPERTY LISTING DETAILS
Chant Karajian
1.813.810.7099
10 Stars Property Management Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3296229
Last Updated: 03/20/2021
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