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685 Sandy Hook Rd Palm Harbor, FL 34683

4 Beds 3 Baths 2,381 sqft Built 1979

$465,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $195.30
  • 6 Days on Market
  • MLS # : U8101864
  • Updated Date : 11/07/2020 at 10:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,381 sqft
  • Baths : 3 full
Listing Agent

Re/max Realtec Group Inc

Listing Agent's Description

For some, seperate rooms still hold their charm, but many homeowners today are taking a sledgehammer to their floor plans so they can enjoy togetherness while cooking, eating and/or watching a movie on TV all in one space. This spacious 4bedroom 3bath + bonus room ranch style home does just that. Home has been beautifully renovated with unparalleled craftsmanship and phenomenal details to include,brand new roof. new flooring, new kitchen & new bathrooms! Split bedroom design lends privacy it's own private retreat & entertaining is a breeze with this open flow kitchen and living area. Picturesque location, truly remarkable inside and out with exceptional amenities.. All of this situated in a convenient, friendly & highly sought after neighborhood. A hiking & biking trail complete with outdoor exercise incentives within the park. Yes an Olympic size pool & a clubhouse for those special gatherings; Tennis courts, basketball court, volleyball court, playground, and a community loaded with new friends all included. Westlake Village is known to be one of Palm Harbor’s loved communities, sitting on 30-acres all with high lot elevations. It has been said and repeated..."once you live in Westlake Village you never want to leave. Yes with all of "that" there is still more. Close to Florida's best beaches, the Pinellas Trail, Honeymoon Island, and you are less than a mile to the coast of the Gulf of Mexico, newer YMCA borders the village, sports leagues all close by and of course downtown Old historic Palm Harbor that invites you to enjoy it's restaurants. County parks, and lots of nearby shopping. Come take a look now while it lasts.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Westlake Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k418k

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

Neighborhood: Westlake Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052550

* 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
Sutherland Elementary School Primary Regular 631 41 9
Palm Harbor Middle School Middle Regular 1,375 75 6
Palm Harbor University High School High Magnet 2,522 113 9

Sutherland Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 41
9
GreatSchools Rating

Palm Harbor Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 75
6
GreatSchools Rating

Palm Harbor University High School

  • Education Level: High
  • # of students: 2,522
  • # of teachers: 113
9
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,716
Property Tax -$586
Property Insurance -$175
HOA -$56
Property Management Fees -$80
CASH FLOW
$128

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$465,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$55,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,869

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5493$2,7404$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 685 Sandy Hook Rd Palm Harbor, FL 3
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $1.15
    •  
  • 30 Beechtree Ct Palm Harbor, FL 1
    • 4 beds 2 baths ∙ 2,177 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,177 Sqft ∙ Built 1974
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 1751 Pebble Hill Ct Palm Harbor, FL 2
    • 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,101 Sqft ∙ Built 1988
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,549
    • $1.21
    •  
  • 2930 Enisgrove Dr Palm Harbor, FL 4
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 1980
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
  • 1455 Treetop Dr Palm Harbor, FL 5
    • 3 beds 2 baths ∙ 2,431 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,431 Sqft ∙ Built 1985
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.23
    •  
PROPERTY LISTING DETAILS
Jeannette Smith
1.727.789.5555
Re/max Realtec Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8101864
Last Updated: 11/07/2020
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