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6212 Horse Mill Pl Palmetto, FL 34221

4 Beds 2 Baths 1,850 sqft Built 2016

$335,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $181.08
  • 2 Days on Market
  • MLS # : A4493394
  • Updated Date : 03/06/2021 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,850 sqft
  • Baths : 2 full
Listing Agent

Ukeepcommission Real Estate

Listing Agent's Description

NO CDD FEES & LOW HOA FEES!!! Old Mill Preserve is a gated community conveniently located very close to both Virgil Mills Elementary School and Buffalo Middle School. Many students walk or ride their bikes to and from school from this neighborhood. This 4 bedroom, 2 bathroom, 3 car garage home is move in ready for the next owner. Looking for a home with low utility bills? Well you're in luck because this home is being sold with solar panels to ensure that your utility bills remain low for the foreseeable future. With an open and split bedroom floor plan, this home is well laid out for a family or someone who likes to entertain family & friends. In the kitchen you'll enjoy 42 inch upper cabinets, granite countertops, stainless steel appliances and a large pantry. In the master bedroom there is an en-suite bathroom with a tiled shower and quartz countertop on the vanity plus a walk-in closet. From the oversized lanai you'll enjoy the beautiful wooded view while you entertain your guests or relax with a morning cup of coffee. This home is sure to sell fast in this market so don't waste any time. Schedule your showing today.

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

Neighborhood: Old Mill Preserves

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $94k297k

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

Neighborhood: Old Mill Preserves

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11052041

* 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,164
Property Tax -$342
Property Insurance -$149
HOA -$103
Property Management Fees -$129
CASH FLOW
$3

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.

$335,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

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-$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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$22,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6453$1,8354$1,8905$1,925
$1,925
RENT COMPS ANALYSIS
  • 6212 Horse Mill Pl Palmetto, FL 4
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.02
    •  
  • 6504 64th Dr E Palmetto, FL 1
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1996
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 6219 64th Dr E Palmetto, FL 2
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1998
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.09
    •  
  • 7220 53rd Pl E Palmetto, FL 3
    • 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,012 Sqft ∙ Built 2009
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.91
    •  
  • 4611 Trout River Xing Ellenton, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Korey Dye
1.941.779.8828
Ukeepcommission Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4493394
Last Updated: 03/06/2021
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