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5011 Willow Preserve Way Palmetto, FL 34221

3 Beds 2 Baths 1,651 sqft Built 2019

INVESTimate

$255,000

List Price

$2,100

$1,890 - $2,310

Rent Est.

$274,125  ( +7.50%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
FACTS
  • Built In 2019
  • Price/Sqft : $154.45
  • 10 Days on Market
  • MLS # : A4475577
  • Updated Date : 08/18/2020 at 05:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full
Listing Agent

Keller Williams On The Water

Listing Agent's Description

Single Family residence with 1,651 sqft, 3 bedrooms, and 2 full baths in a spectacular location! Immaculately maintained interiors feature beautiful wood flooring, a large living area ideal for hosting gatherings, and natural lighting throughout the home's open and airy layout. The kitchen is built to perfection with ample cabinetry, lovely recessed lighting, and a massive island that comfortably seats 4. Relax in the spacious owner’s retreat accompanied by a lavish en suite bath complete with an oversized glass shower and dual vanity. Just minutes from shopping, restaurants, the Manatee River, waterfront dining, and more!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 34221

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k297k

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

Zip Code: 34221

ZipNIR 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
Lincoln Middle School Middle Magnet 526 36 3
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

Lincoln Middle School

  • Education Level: Middle
  • # of students: 526
  • # of teachers: 36
3
GreatSchools Rating

Palmetto High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$941
Property Tax -$260
Property Insurance -$137
HOA -$44
Property Management Fees -$80
CASH FLOW
$638

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 7% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.50%
Maintenance Year (1-5) 3.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,575

INVESTMENT

$69,575

Down Payment
$63,750
Rehab Estimate
$2,000
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

16.67

YEARS SAVED

$84,750

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8953$1,9254$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 5011 Willow Preserve Way Palmetto, 5
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.27
    •  
  • 4009 Duck Creek Way Ellenton, 1
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2006
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.07
    •  
  • 4437 Lindever Ln Palmetto, 2
    • 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
    •  
  • 4611 Trout River Xing Ellenton, 3
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.96
    •  
  • 3805 Wayfarer Way Palmetto, 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
    •  
PROPERTY LISTING DETAILS
Reann Morrow
1.941.286.3576
Keller Williams On The Water
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475577
Last Updated: 08/18/2020
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