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9347 Raes Creek Pl Palmetto, FL 34221

4 Beds 4 Baths 2,909 sqft Built 2007

$399,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $137.47
  • 3 Days on Market
  • MLS # : A4488581
  • Updated Date : 01/16/2021 at 10:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,909 sqft
  • Baths : 3 full , 1 half
Listing Agent

Kw Suncoast

Listing Agent's Description

Welcome home! Space Galore – inside and out. Gorgeous, manicured landscaping greets you at the front of this home situated on a Peaceful, Serene lot with relaxing views. Enjoy quiet sunrise from the lanai or sit out front to watch the sunset. Doesn’t get better than this. Located on a Cul-de-sac means minimal drive-by traffic. Take advantage of living on a golf-course without the expense of golf course member ship fees. This area is quickly becoming the place to live because of its convenient location with easy access to St. Pete, Tampa, Sarasota, Bradenton, etc. All the Suncoast offers just an easy car-ride away. MOVE-IN READY home offers plenty of space for everyone in your family. Not only are there (4) Bedrooms BUT there is a FAMILY ROOM in addition to the LIVING ROOM. Plus, the Master Suite features a BONUS ROOM to provide you with a special place separate from everyone else for relaxation, reading, etc. Split-Bedroom Plan affords privacy for everyone. Kitchen features tons of COUNTER SPACE and CABINETS, plus a WALK-IN PANTRY. New and Newer Kitchen Appliances - Stove and Microwave (2020); Refrigerator, Dishwasher and Garbage Disposal (2016). Big-ticket items have been taken care of so you can just move in and start enjoying your home right away! BOTH A/C units replaced in 2020. Exterior Painted (2020). Water Heater (2020). The irrigation system Updated and Upgraded (2019.). HURRICANE SHUTTERS are stored in the garage. Lanai Rescreened (2019). Large very usable backyard offers room for pool or whatever makes you happy. PET-FRIENDLY community. Low HOA fees. Seller offering a ONE-YEAR HOME WARRANTY for added PEACE OF MIND.

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: Imperial Lakewoods

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $97k409k

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

Neighborhood: Imperial Lakewoods

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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,389
Property Tax -$408
Property Insurance -$215
HOA -$42
Property Management Fees -$129
CASH FLOW
-$2

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.

$399,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$25,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,180
$2,180
RENT COMPS ANALYSIS
  • 9347 Raes Creek Pl Palmetto, FL 3
    • 4 beds 4 baths ∙ 2,909 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,909 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.75
    •  
  • 8831 Founders Cir Palmetto, FL 1
    • 4 beds 4 baths ∙ 2,909 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,909 Sqft ∙ Built 2005
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.65
    •  
  • 4255 70th Street Cir E Palmetto, FL 2
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2006
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Kristina Skepton, Pllc
1.941.323.5118
Kw Suncoast
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488581
Last Updated: 01/16/2021
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