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7044 57th Ter E Palmetto, FL 34221

4 Beds 3 Baths 2,211 sqft Built 2015

$354,800

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $160.47
  • 2 Days on Market
  • MLS # : A4484409
  • Updated Date : 11/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,211 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Are you ready for No CDD fees, A Low HOA and a brand new built pool to call your next home? Then look no further then the Crystal Lake community. Welcome to 7044 57th Ter E. This two story home offers plenty of room with its 2,211 sq. ft of living area. Upon walking up to your entrance you will be greeted to a new front & back lawn, new front & back yard irrigation, with gutters installed. As you enter you will be greeted to your ring doorbell and a recently upgraded half bathroom including new paint, upgraded lighting and vanity mirror. Next you will walk through the hall and into the kitchen/living room where you will be able to enjoy a spacious open floor plan with wood flooring throughout, lots of natural light, Remote controlled ceiling fans, Crown Molding, Shiplap accent wall, Hand crafted cornices above all windows and sliding door. After enjoying spending time in the kitchen/living room you will have the option to head out back to one of the best new addition to the home with its brand new 2020 built custom inground pool with large splash area and a 6-person hot tub with water views. The backyard also includes a built in fence for privacy and other uses. Once you are done head back inside and up the wood flooring stairs where your 4 bedrooms awaits you. Your first stop to the right will grant you access to the master bedroom which greets you with a spacious room ,including crown molding throughout, a large walk in closet and double sinks in the master bathroom. As you exit the master bedroom you can experience the 3 bedrooms with ample lighting from the windows in each room and closet space. At the end of the hall is 1 more bathroom to the left to complete the home. Why wait to build a new home with a pool when you can enjoy this beautiful home now without waiting 4 plus months. Ready to call this home? Let's make it happen today! Welcome to 7044 57th Ter E...

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Crystal Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $97k409k

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

Neighborhood: Crystal Lakes

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
 

$319,320$390,280$354,800

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,309
Property Tax -$362
Property Insurance -$172
HOA -$75
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 12% of earned rent to cover both maintenance and periods of vacancy.

$354,800

PROJECTED PRICE

$1,870

PROJECTED RENT

0.53%

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$1.2M

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$99,772

INVESTMENT

$99,772

Down Payment
$88,700
Rehab Estimate
$5,750
Closing Costs
$5,322

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,309

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,700
Loan Amount $266,100
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$15,353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,863

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7993$1,8254$1,8705$2,000
$2,000
RENT COMPS ANALYSIS
  • 7044 57th Ter E Palmetto, FL 4
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.85
    •  
  • 7011 49th Pl E Palmetto, FL 1
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2001
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 5506 Lakehurst Ct Palmetto, FL 2
    • 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 2005
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.86
    •  
  • 7228 53rd Pl E Palmetto, FL 3
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 2007
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.86
    •  
  • 7030 56th Ter E Palmetto, FL 5
    • 5 beds 3 baths ∙ 2,379 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,379 Sqft ∙ Built 2008
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
PROPERTY LISTING DETAILS
Richard Souksengphet
1.941.447.3771
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484409
Last Updated: 11/22/2020
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