For Sale - 2221 Sloane Pl, $390,000

GREAT OPPORTUNITY TO OWN IN A DESIRABLE COMMUNITY. WONDERFULLY UPGRADED 5bd/2.5bth. OLYMPIA IS THE ULTIMATE LIFESTYLE COMMUNITY

GREAT OPPORTUNITY TO OWN IN A DESIRABLE COMMUNITY OF OLYMPIA. WONDERFULLY UPGRADED 5bd/ 2.5bth. OLYMPIA IS THE ULTIMATE LIFESTYLE COMMUNITY IN WELLINGTON BOASTING A FABULOUS CLUBHOUSE, TENNIS CENTER, INDOOR BASKETBALL, STATE- OF- THE ART FITNESS CENTER, BEACH VOLLEYBALL, LAGOON-STYLE POOL, POOL WITH CABANAS AND A CHILDREN'S WATER WORKS PARK. LOW HOA.

Bedrooms5
Full Bathrooms2
Half Bathrooms1
High School
Middle School
Elementary School
MLS NumberA10294493
Virtual Tourhttp://www.propertypanorama.com/instaview/mia/A10294493
Verified10/18/2017 01:30am


Contact Sue for additional details
  • Email:
  • Phone: (321) 453 7389
  • Property ID: 2790247

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Listing provided by Andes INV, Inc.. Copyright 2017 Multiple Listing Service of South East Florida and Miami Association of Realtors. All rights reserved.

2221 Sloane Pl is a 3,275 sq ft Single Family in Wellington. It was built in 2004. In 2016 similar properties sold for between $443,857 and $672,256. We estimate the income value of 2221 Sloane Pl at $28,471. The assumptions we used to calculate this value are include in the spreadsheet linked below. Wellington is in Palm Beach County, Florida.

2221 Sloane Pl Property Summary

2221 Sloane Pl
Wellington
FL 33414

Property Size:3,275 sq ft
Year Built:2004
Property Class:B3
Lat, Long: 26.648, -80.202
Estimated Value: 2221 Sloane Pl

Market Data

In 2016 class A single family properties in Wellington sold for $137.14 to 930.40 per sq ft with a median price per sq ft of $157.14. Class B properties sold for $90.54 to 137.13 per sq ft with a median of $114.29 and class C properties sold for $10.15 to 90.53 per sq ft with a median of $80.35.

Market Valuation

2221 Sloane Pl appears to be a B Class property. Suggested value: $560,287

HighMedianLow
Value672,256 560,287 443,857

Income Valuation - Residential/Gross Lease

Visulate estimates the income value of this property is $28,471. Details of how we produced this estimate value appear below:

The income value of a property identifies its value as a rental property, Value = Rent - Expenses / Cap Rate. The following table shows four different rent estimates for 2221 Sloane Pl:

  • The Household Income estimate assumes the tenant has a total household income of $107,135 and spends 34% of this on rent. The household income estimate is derived from census data and tax records.
  • The Household Income - Renters estimate performs a similar calculation based on the household income of renters rather than all households.
  • The Market Rents estimate evaluates this property in comparison to rental properties in the area.
  • The Price/Ft estimate uses the size of the property to estimate its rent.

Click on a rent value to download a spreadsheet that estimates the NOI (net operating income), cash on cash return, income value and IRR (internal rate of return) for this property.

Valuation ModelMonthly Rent
Household Income - All Households $3,035
Household Income - Renters $1,540
Market Rents $1,374
Price/Ft $2,224

Expense Estimates:

  • Census data records show 8% of the rental properties in this area are vacant. We've added a 5% bad dept allowance to this.
  • Maintenance costs are estimated based on the size of the property.
  • The property tax estimate uses the average millage rate for the county. It does not include adjustments for city or unincorporated areas. Actual taxes may vary.
  • Insurance estimates are based on the size and location of the property. They are not adjusted for age, flood zone or other risk factors
  • We don't have a way to estimate HOA fees. These should be added manually

The following table shows a income valuation estimate for 2221 Sloane Pl. Download a spreadsheet or click on the Estimate Cashflow link to change its estimates and assumptions. Alternatively, click on the Save button to upload a copy of the spreadsheet to Google Drive.

Amount
Monthly Rent1,374
Annual Rent per Sq Ft5.00
Gross Annual Rent16,490
Vacancies and Bad Debt13%
Vacancies and Bad Debt Amount2,144
Maintenance1,703
HOA, Utilities and CAM0
Property Taxes6,260
Insurance2,741
Management Fees1,649
NOI1,993
Cap Rate7
Estimated Value28,471
Edit Values and Estimate Cashflow Estimate Cashflow
Save to Google Drive (Google login required)

Page 1 of 2. Click on the Estimate Cashflow link to navigate to Page 2.

Search County Property Tax and Court Records

Select a county from the list then click on the links to connect to the Property Appraiser or Clerk of Courts website

Local Household Income

The median household income in this part of Florida is $78,588. The bottom 10% of the population earn less than $23,201 per year. The top 10% earn more than $210,922 per year. The top 1% earn more than $612,589 per year. Most renters earn between $28,404 (20th percentile) and $65,052 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $157,176 and $196,470.

The tax assessed value of this property places it in percentile 66 of all properties in this area. This suggests it would appeal to someone earning around $107,135 per year who should qualify for a mortgage between $214,270 and $267,838.

Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates

Local Rents

The median monthly rent in this part of Florida is $1,145. Most renters earn between $2,367 and $5,421 per month. They typically spend 34% of their monthly income on rent. Most rents fall in the $694 (20th percentile) to $1,677 (80th percentile) range. The residential vacancy rate is 8%.

This property falls in percentile 66 of all properties in this area. This corresponds to a rent of $1,374 per month and a monthly household income of $4,530 ($54,360 per year)

Links

  1. 2221 Sloane Pl, Wellington, FL on Zillow
  2. Recent Sales near 2221 Sloane Pl, Wellington, FL on Realtor.com
  3. 2221 Sloane Pl, Wellington, FL on Google Maps
  4. 2221 Sloane Pl Walkscore
  5. Wellington, FL Property Values on Trulia
  6. Search for EPA and DEP Cleanup Sites

Owner Details

Companies near this Address

  1. Averkamp Holdings LLC (2228 Sloane Pl)
  2. Robin L. Hirsch, P.A. (2222 Sloane Pl)
  3. Reds Reality, Inc. (2216 Sloane Pl)
  4. H H L Repair Service Inc (9910 Shepard Pl)
  5. Projected, LLC (2215 Sloane Pl)
  6. Boisrond Services LLC (9914 Shepard Pl)
  7. The Hambo Group LLC (9914 Shepard Pl)

Sales History

DateSold BySold ToDeed TypePrice
04/01/2014 Not Recorded Not Recorded Unknown 255,700.00
04/01/2014 Not Recorded Buyer: 1390910 Unknown 255,700.00
08/01/2015 Not Recorded Buyer: 9926203 Unknown 275,000.00
Disclaimers and Disclosures

Public Records Data

The information on this page was compiled from public records. It is deemed reliable but not guaranteed to be an accurate snapshot of the property details at the time the snapshot was taken. All information should be independently verified.

The Visulate site was produced from data and information compiled from recorded documents and/or outside public and private sources. Visulate is not the custodian of public records and does not assume responsibility for errors or omissions in the data it displays or for its misuse by any individual.

In the event of either error or omission, Visulate and any 3rd party data provider shall be held harmless from any damages arising from the use of records displayed on the site.

MLS Data

Visulate participates in My Flordia Regional, South East Florida MLS and the Brevard County Broker Reciprocity programs, allowing us to display other broker's listings on our site. Listing data supplied by other brokers is deemed reliable but not guaranteed. It is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties to buy, lease or rent.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Programs of My Flordia Regional, South East Florida MLS and Brevard County, Florida. Real estate listings held by brokerage firms other than Visulate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.