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5012 Elmhurst Ln Palmetto, FL 34221

4 Beds 2 Baths 1,876 sqft Built 2005

$297,500

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $158.58
  • 3 Days on Market
  • MLS # : A4491298
  • Updated Date : 02/13/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Select

Listing Agent's Description

Come see this move-in ready, well maintained 4 bedroom, 2 bath, 2 car garage home in the Waterford Community. Upon entry, the home offers a large living room that can be versatile in it's use. The kitchen is spacious with plenty of room for dining as well as a breakfast bar open to the secondary living room. A split bedroom plan provides added privacy for the 4 bedrooms. The rear of the home backs to a conservation area adding a spacious outdoor view and tranquility. Improvements made in 2021 are a freshly painted exterior and new water heater. A heated and cooled Community Pool is close by for easy enjoyment. The Waterford Community is close to the I-75 and I-275 interchange for easy commuting to St. Petersburg, Tampa, or Sarasota. The area is quickly growing, including a nearby new opened Publix Shopping Complex and Elementary School, with additional plans for continued growth in the surrounding area.

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: Waterford

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $97k409k

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

Neighborhood: Waterford

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001400160018002000220024002600Rent in $11052642

* 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
 

$267,750$327,250$297,500

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,033
Property Tax -$325
Property Insurance -$151
HOA -$68
Property Management Fees -$129
CASH FLOW
$103

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.

$297,500

PROJECTED PRICE

$1,810

PROJECTED RENT

0.61%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,588

INVESTMENT

$84,588

Down Payment
$74,375
Rehab Estimate
$5,750
Closing Costs
$4,463

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,375
Loan Amount $223,125
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$28,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8104$1,8505$1,925
$1,925
RENT COMPS ANALYSIS
  • 5012 Elmhurst Ln Palmetto, FL 3
    • 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,876 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.96
    •  
  • 5335 Lakehurst Ct Palmetto, FL 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2005
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 9115 52nd Ave E Palmetto, FL 2
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2018
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 9010 49th Ave E Palmetto, FL 4
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2016
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 8935 52nd Ave E Palmetto, FL 5
    • 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 2017
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.96
    •  
PROPERTY LISTING DETAILS
Lisa Krzysiak
1.727.417.3257
Keller Williams Realty Select
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491298
Last Updated: 02/13/2021
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