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4336 Worthington Cir Palm Harbor, FL 34685

4 Beds 3 Baths 2,506 sqft Built 1990

$460,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $183.56
  • 2 Days on Market
  • MLS # : U8103150
  • Updated Date : 11/07/2020 at 17:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,506 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Gorgeous 4/3/3 Palm Harbor home on beautiful conservation lot and no rear neighbors! Tranquility at its finest. Enter the lovely leaded glass, double doors to an impressive foyer with mosaic tile accent. Separate living and dining rooms feature hard wood floors, crown molding, and tile accents. Split plan features master bedroom with en suite bathroom on the west side of the home. Master suite complete with dual closets, one walk-in, double sinks set in granite, garden tub, large shower, separate water closet, and entry to the pool deck though sliding doors. Other side of the home offers plenty of living space! Upgraded kitchen features maple wood cabinetry, granite countertops and backsplash, SS appliances, built-ins, and breakfast bar, which overlooks sizable family room complete with wood-burning fireplace and more built-ins! Enjoy coffee and meals in the dinette which offers plenty of storage in the built in bar and deep drawer cabinets. Private door closes off fourth bedroom and bath which functions as a true pool bath. Spacious covered lanai with ample space to relax, BBQ, and entertain guests. Deck has just been repainted and sealed! Amazing views and privacy surround your backyard oasis. Home has been immaculately maintained! Upgrades and maintenance include new sprinkler control panel (2020), overhead storage racks in garage, "saferacks" installed in garage (2016), Samsung double door refrigerator (2020), pool sweep (2018), water heater (2015), water softener (2016), pool resurfaced (2020), new pool pump (2020), new HVAC (2017), and new exterior door in pool bath (2016). Gated Ridgemoor subdivision of Windermere features tennis and basketball courts, park, and playground. Live in the most desirable school zone in Pinellas county!

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: Windemere

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k497k

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

Neighborhood: Windemere

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052540

* 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
Cypress Woods Elementary School Primary Regular 754 49 10
Joseph L. Carwise Middle School Middle Regular 1,067 60 7
East Lake High School High Regular 2,091 103 8

Cypress Woods Elementary School

  • Education Level: Primary
  • # of students: 754
  • # of teachers: 49
10
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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,697
Property Tax -$595
Property Insurance -$182
HOA -$30
Property Management Fees -$80
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.

$460,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.55%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$35,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,813

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5404$2,7505$2,995
$2,995
RENT COMPS ANALYSIS
  • 4336 Worthington Cir Palm Harbor, FL 3
    • 4 beds 4 baths ∙ 2,506 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,506 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.01
    •  
  • 4515 Serenity Trl Palm Harbor, FL 1
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 2002
    property image
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
  • 3699 Doral St Palm Harbor, FL 2
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1997
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
  • 4739 Wrentham Pl Palm Harbor, FL 4
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1993
    property image
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.14
    •  
  • 4149 Ridgemoor Dr N Palm Harbor, FL 5
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1990
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.22
    •  
PROPERTY LISTING DETAILS
Treasure Devening-glenn
1.727.385.9503
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103150
Last Updated: 11/07/2020
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