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3689 Fremantle Dr Palm Harbor, FL 34684

3 Beds 3 Baths 1,701 sqft Built 1988

$335,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $197.47
  • 5 Days on Market
  • MLS # : U8103480
  • Updated Date : 11/04/2020 at 22:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,701 sqft
  • Baths : 2 full , 1 half
Listing Agent

O'regan Realty Inc

Listing Agent's Description

Home for the Holidays !! Must see this beautiful, move-in ready, 2 story, 3 bedroom, 3 bath home in the high demand neighborhood of The Village of Woodland Hills in Palm Harbor, Florida. Located in North Pinellas county, easy access to Tampa, St. Petersburg, Clearwater, and Pasco county. Close to local beaches, parks, schools, churches, shopping, hospitals, medical and dental providers. Home has an open floorplan with high ceilings, lots of windows, bright, open and airy living . Two sided wood burning fireplace warms the family room and great room - formal dining room and formal living room. Kitchen has solid wood cabinetry and like- new stainless steel appliances including refrigerator/ freezer with icemaker, convection oven with glass cooktop, stainless steel exhaust hood, microwave, double sink. Sliding doors in the family room open onto the screened lanai that overlooks the fully fenced backyard which overlooks a wooded nature preserve. Relax and enjoy watching and hearing the wildlife from the screened lanai or the wooden deck. Guest bathroom located on the main floor – double car garage is attached to the home, clothes washer & dryer conveniently located in the garage. Master bedroom suite is located on one side of the second floor and contains an en suite bathroom with double sink vanity and a walk-in closet. Loft area could be used as a home office, library/study, workout room, or recreational area. Two additional bedrooms and bathroom form the balance of the second floor. All bedrooms have ceiling fans and brand new carpeting (never lived on) installed on the staircase and second floor rooms(October 2020). All windows in home have like new blinds, entire interior of home was recently painted (August 2020). Roof, AC condenser, water heater, kitchen appliances, all window blinds,and painting of exterior of home all new within the past 5 years. Neighborhood has large community pool with covered picnic area, fenced playground, two lighted tennis courts, and lots of green space , all included with very low HOA dues ( approx.. $38/mo.) Great family and pet- friendly neighborhood. Must see this home before it is gone – homes in this neighborhood are selling very quickly! Move in before the holidays !

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Village of Woodland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: Village of Woodland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052044

* 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
East Lake High School High Regular 2,091 103 8

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

East Lake High School

  • Education Level: High
  • # of students: 2,091
  • # of teachers: 103
8
GreatSchools Rating
 

$302,310$369,490$335,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,239
Property Tax -$423
Property Insurance -$135
HOA -$38
Property Management Fees -$80
CASH FLOW
$115

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.

$335,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.60%

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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,764

INVESTMENT

$94,764

Down Payment
$83,975
Rehab Estimate
$5,750
Closing Costs
$5,039

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,975
Loan Amount $251,925
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$42,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0304$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 3689 Fremantle Dr Palm Harbor, FL 3
    • 3 beds 3 baths ∙ 1,701 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,701 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.19
    •  
  • 3186 Bentley Dr Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1992
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.26
    •  
  • 1719 Arabian Ln Palm Harbor, FL 2
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1993
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
  • 3926 Blooming Hill Ln Palm Harbor, FL 4
    • 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1979
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
  • 3545 Rolling Trl Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1987
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.23
    •  
PROPERTY LISTING DETAILS
Debra T O'regan
1.727.210.9805
O'regan Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103480
Last Updated: 11/04/2020
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