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5125 Old Turner Ln Palmetto, FL 34221

4 Beds 3 Baths 2,252 sqft Built 2019

$309,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $137.61
  • 2 Days on Market
  • MLS # : A4494327
  • Updated Date : 03/14/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,252 sqft
  • Baths : 2 full , 1 half
Listing Agent

Horizon Realty International

Listing Agent's Description

OPEN TODAY 2-5pm! Honey, Stop the car! This lovely 4 bedroom 2 1/2 bath newer home is just over two years old. It sits on a comfortable .18 acre corner lot and has a fully fenced large backyard with lovely views of the water behind you. Enjoy a nice coffee on your Florida patio and take in the ducks and majestic blue heron while the sun rises or sets on you each day. You will have plenty of room to entertain in this nice wide open 28 foot great room featuring high ceilings, and water views from both the living room and dining room areas. This Elston floor plan is a favorite among buyers as it suits a lot of needs with its great design. The kitchen features thick granite counters, breakfast bar and an exceptionally long pantry making great use of the space under the stairs. The upper level features a loft, four bedrooms, a laundry room and two full bathrooms. The primary bedroom is 13 X 14' and has a large walk-in closet with a small window which allows you to see your items in the closet quite nicely. The bathroom attached to this bedroom is roomy and features a water closet, dual sinks and two other closets as well as a walk in shower with an easy to clean and maintain construction. Silverstone has a lovely community pool and cabana are overlooking a lake with fountains. The community also has a playground area and sidewalks which are nice for those who might like to take a nice morning or evening walk. The home is located conveniently just a few miles off the interstate, very close to the Ellenton Outlet mall as well as numerous restaurants and shops. Woody's River Roo is just a couple miles away on the Manatee River. You are under 10 miles from boat ramps that can get you into the Manatee River which leads into the Gulf of Mexico. In this area, you are nestled between the Sarasota/Bradenton airport and Beaches, etc. and the St.Petersburg/Clearwater/Tampa/Brandon areas with Airports, beaches, etc. Both areas have numerous hospitals, and healthcare providers, golf courses, entertainment centers of all kinds, State parks, etc. Some people find living in this area between the two metro areas to be helpful as they can consider work opportunities north or south of the Palmetto/Ellenton area. Be sure to add this one to your list as it is not likely to last long! See you soon!

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
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,076
Property Tax -$316
Property Insurance -$174
HOA -$51
Property Management Fees -$129
CASH FLOW
$83

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.

$309,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.59%

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-$2.0k$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$27,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,824

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6993$1,7754$1,8305$2,250
$2,250
RENT COMPS ANALYSIS
  • 5125 Old Turner Ln Palmetto, FL 4
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.81
    •  
  • 6028 36th Ct E Ellenton, FL 1
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2004
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 5995 Willows Bridge Loop Ellenton, FL 2
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2007
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.83
    •  
  • 4175 Day Bridge Pl Ellenton, FL 3
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 2006
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.75
    •  
  • 3919 Willow Branch Pl Palmetto, FL 5
    • 5 beds 3 baths ∙ 2,601 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,601 Sqft ∙ Built 2020
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jennifer Volpe
1.941.962.1730
Horizon Realty International
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494327
Last Updated: 03/14/2021
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