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3854 Lake Saint George Dr Palm Harbor, FL 34684

3 Beds 2 Baths 1,299 sqft Built 1982

$250,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $192.46
  • 3 Days on Market
  • MLS # : U8110117
  • Updated Date : 01/16/2021 at 09:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,299 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Gulfside Rlty

Listing Agent's Description

Lovely Lake St George home. Cathedral ceilings and large front windows give the home an open and bright feel. The spacious open kitchen has a separate seating area or you can enjoy casual dining at the kitchen countertop. A bonus area off of the kitchen can be used as another family/entertainment room or an office. You will enjoy a large fenced-in yard with a brand new deck off the side of the home. Storage sheds give you extra storage. This is a great community with a community pool, tennis courts, and playground within biking distance as well as access to a small lake (kayaks, canoes, SUP's, and boats with electric motors). Short drive to beaches and entertainment. The historic downtown of Palm Harbor has many locally-owned restaurants with new ones coming soon. Beautiful Wall Springs Park and John Chestnut Park are both located in Palm Harbor. The Pinellas Trail runs through Palm Harbor into Tarpon Springs in the North and St Pete in the South.

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: 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$868
Property Tax -$315
Property Insurance -$112
HOA -$30
Property Management Fees -$129
CASH FLOW
$196

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.

$250,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.66%

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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$37,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 3854 Lake Saint George Dr Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.27
    •  
  • 2660 Lazar Ct Palm Harbor, FL 1
    • 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1984 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1984
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.25
    •  
  • 686 Bellingham Pl Palm Harbor, FL 2
    • 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
    •  
  • 3404 Shorncliffe Ln Palm Harbor, FL 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1987
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.25
    •  
  • 3892 Nighthawk Dr Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1982
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.22
    •  
PROPERTY LISTING DETAILS
Susan Sorensen
1.727.279.5830
Keller Williams Gulfside Rlty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110117
Last Updated: 01/16/2021
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