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4919 69th Ct E Palmetto, FL 34221

3 Beds 2 Baths 1,415 sqft Built 1999

$239,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $168.90
  • 2 Days on Market
  • MLS # : A4486109
  • Updated Date : 12/13/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 2 full
Listing Agent

Exit King Realty

Listing Agent's Description

Welcome Home! You've found the one! Nestled into the Fosters Creek community -- fall in love with the mature landscaping and quaint neighborhood. Making your home cozy is easy with all the right assets, like the front porch ready for your morning coffee or having a family movie in the big open living room. Enjoy the vibrant kitchen with its freshly painted cabinets and add that perfect bench style table you've always wanted to Kitchen nook. Then when the day is done, this amazing split floor plan design will give you the extra privacy you are all ready for. It also doesn't hurt to have: -Newly painted exterior -Roof only 2 years old -Back patio to enjoy weekend BBQs -Big walk master closet -Fenced in yard perfect for the whole family, pets too! You have to come see for yourself! This property offers a great opportunity to enjoy Florida living, with its convenient location you can quickly access I-75, I-275, US19, and US41! If you're in the market for a space that will create long-lasting memories for your family and friends, I feel like your search might be over... You may have noticed homes are moving quick If you want your chance to find out if this adorable Foster Creek Home is right for you and your family, schedule your showing today!

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: Foster's Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $96k297k

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

Neighborhood: Foster's Grove

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10962041

* 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
Mills Elementary School Primary Regular 1,160 66 6
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Mills Elementary School

  • Education Level: Primary
  • # of students: 1,160
  • # of teachers: 66
6
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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$882
Property Tax -$244
Property Insurance -$123
HOA -$33
Property Management Fees -$129
CASH FLOW
$210

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.

$239,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$43,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6203$1,7494$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 4919 69th Ct E Palmetto, FL 2
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.14
    •  
  • 6812 34th Ave E Palmetto, FL 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2001
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 6205 65th Ct E Palmetto, FL 3
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1992
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.19
    •  
  • 3416 77th Ct E Palmetto, FL 4
    • 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 2018
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
  • 7524 38th Dr E Palmetto, FL 5
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 2017
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
PROPERTY LISTING DETAILS
Heather Augenstein
1.941.720.0805
Exit King Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4486109
Last Updated: 12/13/2020
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