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4711 35th Ave E Palmetto, FL 34221

3 Beds 2 Baths 1,571 sqft Built 2006

$274,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $174.98
  • 4 Days on Market
  • MLS # : U8106933
  • Updated Date : 12/24/2020 at 13:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

Luxury & Beach Realty Inc

Listing Agent's Description

Welcome to your new home in Sugar Mill Lakes!!! This is the perfect 3/2 home!!! It sits on a lake where you can watch beautiful sunsets every evening, from Large wrap around screen enclosed covered lanai ! One feature about the neighborhood which sets it a part from others is the spacing between homes! Each home site is a minimum of 80 feet across the front of the road. This house is on a corner lot 131 feet deep! Mature Landscape ! Beautiful Trees!! This home has a open floor plan, with Vaulted ceilings, New engineered hardwood floors. Dual master closets ,Soaking tub.

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: Cabin Creek

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k297k

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

Neighborhood: Cabin Creek

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10372041

* 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
Tillman Elementary Magnet School Primary Magnet 556 37 4
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Tillman Elementary Magnet School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 37
4
GreatSchools Rating

Buffalo Creek Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 54
5
GreatSchools Rating

Palmetto High School

  • Education Level: High
  • # of students: 2,076
  • # of teachers: 93
3
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,014
Property Tax -$280
Property Insurance -$132
HOA -$66
Property Management Fees -$129
CASH FLOW
$178

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$274,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$41,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8954$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 4711 35th Ave E Palmetto, FL 2
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.15
    •  
  • 4715 32nd Ave E Palmetto, FL 1
    • 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2004
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.06
    •  
  • 4437 Lindever Ln Palmetto, FL 3
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 3805 Wayfarer Way Palmetto, FL 4
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 5003 Willow Preserve Way Palmetto, FL 5
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2018
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
PROPERTY LISTING DETAILS
Belinda Parker
1.727.742.8326
Luxury & Beach Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106933
Last Updated: 12/24/2020
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