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953 Cobblestone Ln Tarpon Springs, FL 34688

4 Beds 2 Baths 2,280 sqft Built 1989

$449,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $197.32
  • 4 Days on Market
  • MLS # : U8114264
  • Updated Date : 02/27/2021 at 14:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 2 full
Listing Agent

Blake Real Estate Inc

Listing Agent's Description

Your private sanctuary is here, hiding in plain sight at the edge of the conservation, where deer and fawns frolic, woodpeckers tap-tap and owls call. An exceptional beautifully updated and meticulously maintained move-in ready split plan pool home situated on one of the best lots in the Woodfield subdivision on a quiet cul-de-sac. Enter inside through double entry doors to the formal living room and dining room combo featuring vaulted ceilings, engineered wood floors, and sliders to the lanai. Pass through to the stylishly updated kitchen featuring elegant leather textured granite counters and breakfast bar, a pantry, white shaker cabinetry, crown molding, tray ceiling, inset lighting and sliders opening out to the lanai. Open to the kitchen the spacious family room offers vaulted ceilings and a wood burning fireplace. The private master retreat with walk in closet has sliders to the lanai and features a trophy, spa inspired master bathroom recently updated with no expense spared. The other three ample bedrooms and main/pool bathroom are at the other side of the home in a true split plan. To top it off, the roof was done in 2015.The outdoor spaces include a covered lanai area, a tranquil and tropical pool oasis overlooking the conservation, a sunny patio, and a back yard with room to play. Truly ideal spaces to relax, unwind, nurture the soul and make the most of Florida living. Ideally located in the highly desirable East Lake area featuring, 'A Rated' schools a bike ride away, six golf courses, the Pinellas Trail, the Brooker Creek preserve, Public Library, and John Chestnut park with public boat launch facilities. A short drive takes you to historic downtown Tarpon Springs, the Sponge Docks, Honeymoon Island and Dunedin. Tampa International is only 35 mins away.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Shadowlake Village at Woodfield

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k481k

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

Neighborhood: Shadowlake Village at Woodfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9052692

* 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
Brooker Creek Elementary School Primary Regular 507 35 8
Tarpon Springs Middle School Middle Regular 873 46 4
East Lake High School High Regular 2,091 103 8

Brooker Creek Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 35
8
GreatSchools Rating

Tarpon Springs Middle School

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

East Lake High School

  • Education Level: High
  • # of students: 2,091
  • # of teachers: 103
8
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,563
Property Tax -$560
Property Insurance -$169
HOA -$37
Property Management Fees -$129
CASH FLOW
-$67

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$449,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.57%
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-$5.0k$0.0$5.0k$10k$15k$20k

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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$26,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3003$2,390
$2,390
RENT COMPS ANALYSIS
  • 953 Cobblestone Ln Tarpon Springs, FL 3
    • 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.05
    •  
  • 3686 Fairway Forest Cir Palm Harbor, FL 1
    • 3 beds 2 baths ∙ 2,084 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,084 Sqft ∙ Built 1980
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 342 Waterford Cir E Tarpon Springs, FL 2
    • 4 beds 2 baths ∙ 2,283 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,283 Sqft ∙ Built 1987
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
Conor Oneill
1.727.967.0928
Blake Real Estate Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8114264
Last Updated: 02/27/2021
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