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916 Hunter Ln Tarpon Springs, FL 34689

3 Beds 2 Baths 1,895 sqft Built 1996

INVESTimate

$299,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$314,458  ( +5.17%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $157.78
  • 9 Days on Market
  • MLS # : U8094766
  • Updated Date : 08/20/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,895 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

CHARMING, METICULOUSLY MAINTAINED AND MOVE IN READY! You will love all the upgrades in this 3 bedroom, 2 bathroom, 2 car garage home. Perfect for first time home buyers or a vacation home for the snow birds. Improvements include new roof, AC including all new duct work and all plumbing pipes replaced. The gourmet kitchen has loads of wooden cabinetry and boundless counters and over looks the family room. The family room is spacious and there are sliders out to the covered patio and the very private fenced backyard with no rear neighbors. The floor plan offers a living and dining room combination with a split bedroom plan for privacy. NO FLOOD INSURANCE REQUIRED. This house is located in picturesque Tarpon Springs near schools, shopping, dining, historic downtown Tarpon Springs, two major airports and the Famous Sponge Docks, loaded with Greek culture and delicious Greek restaurants. A short distance to Clearwater, Tampa and St Petersburgh.

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

Zip Code: 34689

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k279k

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

Zip Code: 34689

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781827

* 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
Tarpon Springs Elementary School Primary Regular 644 46 2
Tarpon Springs Middle School Middle Regular 873 46 4
Tarpon Springs High School High Magnet 1,402 69 6

Tarpon Springs Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 46
2
GreatSchools Rating

Tarpon Springs Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 46
4
GreatSchools Rating

Tarpon Springs High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 69
6
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,103
Property Tax -$381
Property Insurance -$147
HOA -$18
Property Management Fees -$80
CASH FLOW
-$78

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.

$299,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.17%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$17,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,829

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,6503$1,7004$1,8505$1,985
$1,985
RENT COMPS ANALYSIS
  • 916 Hunter Ln Tarpon Springs, 2
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 340 Wood Chuck Ave Tarpon Springs, 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2000
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.83
    •  
  • 1446 Watermill Cir Tarpon Springs, 3
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001
    LEASED 03/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 1992 Wood Thrush St Tarpon Springs, 4
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1992
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 1055 Sawgrass Dr Tarpon Springs, 5
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.98
    •  
PROPERTY LISTING DETAILS
Renee Gialousis
1.727.234.3353
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8094766
Last Updated: 08/20/2020
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