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5014 Hemingford Ct Palmetto, FL 34221

3 Beds 2 Baths 1,713 sqft Built 2005

$255,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $148.86
  • 7 Days on Market
  • MLS # : A4484485
  • Updated Date : 11/24/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

Tim Lester Internat'l Realty

Listing Agent's Description

Easy Commute! This 3 bedroom, 2 bathroom split floor plan is located on the corner lot of the cul-de-sac. Enjoy the open floor plan featuring the dining and living area off the kitchen. The master suite is large with an en-suite master bath that boasts two walk-in closets, dual sinks, and a garden tub. Located across the street from the community pool in the very desirable community of Waterford. The home has new carpet, freshly painted interior, and AC unit less than 2 years old. No CDD and Low HOA! Conveniently located by I-75 and I-275 for an easy commute to St. Petersburg/Tampa or Bradenton/Sarasota. Near the Ellenton Outlet Mall, restaurants, shopping, and a short drive to our beautiful Gulf beaches. Don’t wait, call Today for an appointment!

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
 

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

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$941
Property Tax -$260
Property Insurance -$141
HOA -$68
Property Management Fees -$80
CASH FLOW
$200

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.

$255,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.66%

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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

9.92

YEARS SAVED

$42,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6904$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 5014 Hemingford Ct Palmetto, FL 3
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.99
    •  
  • 8930 Founders Cir Palmetto, FL 1
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 7805 Drakestone Ct Palmetto, FL 2
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2003
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 5335 Lakehurst Ct Palmetto, FL 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Tim Lester
1.941.524.8465
Tim Lester Internat'l Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484485
Last Updated: 11/24/2020
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