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3988 Orchard Hill Cir Palm Harbor, FL 34684

3 Beds 2 Baths 1,654 sqft Built 1980

$310,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $187.42
  • 2 Days on Market
  • MLS # : U8108676
  • Updated Date : 01/03/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full
Listing Agent

Biltmore Group Inc

Listing Agent's Description

New Year=New House! 3/2/2 with a pool, located in the Lake St. George Community. Owners bathroom has been completely remodeled, brand new insulation was just recently added to the entire home, recessed lighting was added in the Living Room, Kitchen and Dining Room, and built in cabinets were added to the kitchen. Screened in pool enclosure and nice big open kitchen to entertain. Centrally located with easy access to major highways, beaches, schools and shopping. Community offers a swimming pool, playground, tennis/basketball court, and access to the lake.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,144
Property Tax -$390
Property Insurance -$132
HOA -$60
Property Management Fees -$129
CASH FLOW
$44

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.

$310,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$32,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9493$2,1004$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 3988 Orchard Hill Cir Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
  • 3699 Chatham Dr Palm Harbor, FL 2
    • 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,767 Sqft ∙ Built 1987
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $1.10
    •  
  • 3926 Blooming Hill Ln Palm Harbor, FL 3
    • 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 1979
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
  • 5023 Orange Grove Way Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1986
    property image
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.10
    •  
  • 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
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.23
    •  
PROPERTY LISTING DETAILS
Tara Seabrook
1.727.692.6590
Biltmore Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108676
Last Updated: 01/03/2021
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