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5411 33rd Ave E Palmetto, FL 34221

3 Beds 2 Baths 1,447 sqft Built 2014

$321,500

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $222.18
  • 10 Days on Market
  • MLS # : A4505923
  • Updated Date : 07/12/2021 at 12:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,447 sqft
  • Baths : 2 full
Listing Agent

Good Life Realty Llc

Listing Agent's Description

Looking for a beautiful like new home in Florida with a wide pond view? You should look at this low maintenance home in Cypress Pond Estates, a small and quiet community, conveniently located at a short driving distance from I-75 & I-275, the Ellenton Premium Outlet Mall, the Manatee Memorial Hospital, Shopping, Restaurants and much more. It would be a quick commute for those who work in Sarasota, Bradenton, St. Pete and Tampa areas. The features include: 3 bedroom, 2 bathroom, 2 car garage open floor plan, Electric Generator GENERAC installed in 2017 with warranty, Two UV Lamp in the A/C System, ON DEMAND Gas Water Heater installed in 2017, Gas Propane Stove, Exterior Elastomeric Painting, Gutters, Screened Front Porch. The property offers also a breakfast bar, a double pantry, a screened lanai, a laundry room, hurricane shutters, vaulted ceiling. Master Bedroom with Pond View and Walk-In Closet. Walk-in Shower in the Master Bathroom and Shower Tub in the Second Bathroom. The garage offers attic access, convenient side door, built-in workshop and code operating door opener. NO CDD, the HOA fee is very low and includes a Heated Community POOL, Landscaping Maintenance and Irrigation. Make an appointment today you will be glad you did!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Cypress Pond Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k297k

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

Neighborhood: Cypress Pond Estates

NeighborhoodNIR 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
Buffalo Creek Middle School Middle Regular 1,102 54 5
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

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
 

$289,350$353,650$321,500

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,117
Property Tax -$328
Property Insurance -$125
HOA -$119
Property Management Fees -$129
CASH FLOW
-$68

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.

$321,500

PROJECTED PRICE

$1,750

PROJECTED RENT

0.54%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$90,948

INVESTMENT

$90,948

Down Payment
$80,375
Rehab Estimate
$5,750
Closing Costs
$4,823

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,117

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,375
Loan Amount $241,125
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,6493$1,7504$1,7505$1,825
$1,825
RENT COMPS ANALYSIS
  • 5411 33rd Ave E Palmetto, FL 4
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.21
    •  
  • 5714 33rd Dr E Palmetto, FL 1
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.89
    •  
  • 6016 61st Ct E Palmetto, FL 2
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1994
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.00
    •  
  • 3416 77th Ct E Palmetto, FL 3
    • 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 2018
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
  • 4043 Wayfarer Way Palmetto, FL 5
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2017
    LEASED 05/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.19
    •  
PROPERTY LISTING DETAILS
Raffilena Hamilton
1.941.685.2441
Good Life Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4505923
Last Updated: 07/12/2021
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