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7104 49th Pl E Palmetto, FL 34221

4 Beds 3 Baths 2,086 sqft Built 2002

$284,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $136.58
  • 3 Days on Market
  • MLS # : U8110850
  • Updated Date : 01/23/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full , 1 half
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Beautifully UPDATED 4 bedroom, 2.5 bath, 2 car garage with fully fenced yard in Fosters Creek. Brand NEW Roof, Brand NEW HVAC. New Garage door/motor. As you walk into this home, you will notice the fresh interior paint and custom architectural archways making the home feel airy and bright. New luxury vinyl waterproof flooring throughout the living areas with a brand new dream kitchen! New Kitchen has 42" custom shaker cabinets, Granite counter tops, new stainless steel appliances, and custom tile back splash. Kitchen is open concept with a breakfast bar and bonus eat-in kitchen space. Downstairs Powder room with Granite vanity for guests. First Floor Primary's suite is spacious with large walk-in closet. Primary's Ensuite bathroom features updated double sink Granite vanity, walk-in shower, and soaking tub. Brand NEW carpet in bedrooms. Upstairs are Three additional guest rooms and a hall bathroom with oversized Granite vanity. Sliding doors off the living room out to the patio area with fully FENCED yard. Plenty of room for a pool! Everything has been updated in this home including fixtures, flooring and more! This community offers a community playground. Close to schools, Ellenton Prime Outlets, and centrally located to I-75/275, US 301, restaurants/shopping and more!

SEE MORE

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: Foster's Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $96k297k

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

Neighborhood: Foster's Grove

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10962041

* 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
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$990
Property Tax -$291
Property Insurance -$164
HOA -$33
Property Management Fees -$129
CASH FLOW
$114

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.

$284,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$29,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,7204$1,7995$1,825
$1,825
RENT COMPS ANALYSIS
  • 7104 49th Pl E Palmetto, FL 3
    • 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,086 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.82
    •  
  • 5108 E 72nd St Palmetto, FL 1
    • 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 2008
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 7011 49th Pl E Palmetto, FL 2
    • 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 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Andrea Stoll
1.727.490.9964
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110850
Last Updated: 01/23/2021
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