NOT LISTED FOR SALE

1167 SW Spruce St Palm City, FL 34990

Estimated Value: $441,266 - $510,000

3 Beds
3 Baths
2,775 Sq Ft
$167/Sq Ft Est. Value

Last Sold February 12, 2016

Last sale price $227,400 $82 Per Sq Ft

Est. 103% increase in value since last sale

Current estimated payment $3,140/month

23 Days on Market

Highlights

  • Waterfront
  • Canal Access
  • Porch
  • Bessey Creek Elementary School Rated A-
  • Canal View
  • Open Patio

About This Home

As of February 2016

Newly renovated triplex in desirable Palm City. Unbelievable investor opportunity. Turnkey 9% cap rate. Two 2/1 units and one 1/1 unit. This will not last.

Last Agent to Sell the Property

Mark Hamilton

Real Estate of Florida Broward County Inc. License #3238020 Listed on: 01/19/2016

Last Buyer's Agent

Mark Hamilton

Real Estate of Florida Broward County Inc. License #3238020 Listed on: 01/19/2016

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,299

Year Built

  • Built in 1972

Lot Details

  • 10,585 Sq Ft Lot
  • Waterfront

Home Design

  • Triplex
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 2,775 Sq Ft Home
  • 1-Story Property
  • Canal Views

Flooring

  • Laminate
  • Tile

Outdoor Features

  • Canal Access
  • Open Patio
  • Porch

Utilities

  • Central Heating and Cooling System
  • Cable TV Available

Listing and Financial Details

  • Total Actual Rent $29,400
  • Rent includes electricity, cable TV
  • Assessor Parcel Number 173841010010000504

Community Details

Overview

  • 3 Units
  • Cleveland Addn To Palm Ci Subdivision

Building Details

  • Operating Expense $9,000
  • Net Operating Income $20,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,299

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Property Sub Type: Triplex
  • Property Sub Type Additional: Triplex
  • Directions: Hwy 714 to Mapp Rd. North 1 block to Spruce St.
  • Year Built: 1972
  • Unit Levels: One
  • Building Stories: 1
  • Special Features: None
  • Stories: 1

Interior Features

  • Flooring: Laminate, Tile
  • Living Area: 2775.0

Exterior Features

  • Exterior Features: Porch
  • View: Canal
  • Lot Features: < 1/4 Acre
  • Pool Features: None
  • View: Yes
  • Waterfront Features: Canal Access
  • Waterfront: Yes
  • Construction Type: Block
  • Patio And Porch Features: Open, Porch
  • Roof: Composition, Shingle

Garage/Parking

  • Garage Yn: No

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Cable Available, Sewer Available, Water Available
  • Water Source: Public

Condo/Co-op/Association

  • HOA Rent Includes: Electricity, Cable TV
  • Senior Community: No

Lot Info

  • Parcel #: 173841010010000504
  • Lot Size Sq Ft: 10585.0
  • Zoning Description: R
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Exterior Electric

Multi Family

  • Property Net Operating Income: 20400.0
  • Number Of Units Total: 3
  • Annual Operating Expense: 9000.0
  • Total Actual Rent: 29400.0

Tax Info

  • Tax Year: 2015
  • Tax Annual Amount: 2299.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 14, 2017
Sold by
Selinger Mark E and Selinger Mark E
Bought by
1167 Spruce St Llc
Current Estimated Value
$462,317

Purchase Details

Listed on
Jan 19, 2016
Closed on
Feb 11, 2016
Sold by
Poller Karen
Bought by
Selinger Mark E and Mark E Selinger Revocable Trust
Seller's Agent
Mark Hamilton
Real Estate of Florida Broward County Inc.
Buyer's Agent
Mark Hamilton
Real Estate of Florida Broward County Inc.
List Price
$224,900
Sold Price
$227,400
Premium/Discount to List
$2,500
1.11%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.28%

Purchase Details

Listed on
Oct 9, 2014
Closed on
Apr 9, 2015
Sold by
Wells Fargo Bank National Association
Bought by
Poller Karen
Seller's Agent
John Hernandez
Southern Key Realty
Buyer's Agent
Curtis Richard
A Buyers Advantage
List Price
$123,600
Sold Price
$108,000
Premium/Discount to List
-$15,600
-12.62%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
156.64%

Purchase Details

Closed on
May 12, 2014
Sold by
Brumbelow Anthony and Brumbelow Rebecca
Bought by
Wells Fargo Bank National Association

Purchase Details

Closed on
Dec 6, 2002
Sold by
Cutcher Richard P
Bought by
Brumbelow Anthony and Brumbelow Rebecca

Purchase Details

Closed on
Jan 21, 1998
Sold by
Virginia L Defillipo Tr
Bought by
Cutcher Richard P and Cutcher Alan D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,500
Interest Rate
7.19%
Mortgage Type
Balloon
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1167 Spruce St Llc -- Attorney
Selinger Mark E $227,400 South Florida Title Services
Poller Karen $108,000 Fidelity Natl Title Fl Inc
Wells Fargo Bank National Association $20,100 None Available
Brumbelow Anthony $53,000 Universal Land Title Inc
Cutcher Richard P $100,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Brumbelow Anthony $165,000
Previous Owner Cutcher Richard P $92,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/12/2016 02/12/16 Sold $227,400 +1.1% $82 / Sq Ft
01/19/2016 01/19/16 For Sale $224,900 +108.2% $81 / Sq Ft
04/29/2015 04/29/15 Sold $108,000 -12.6% $39 / Sq Ft
03/30/2015 03/30/15 Pending -- -- --
10/09/2014 10/09/14 For Sale $123,600 -- $45 / Sq Ft
Source: BeachesMLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,451 $378,088 -- --
2024 $6,866 $343,717 -- --
2023 $6,866 $312,470 $0 $0
2022 $6,020 $284,064 $0 $0
2021 $6,066 $258,240 $120,000 $138,240
2020 $5,334 $251,550 $115,000 $136,550
2019 $5,179 $245,690 $105,000 $140,690
2018 $4,774 $225,690 $85,000 $140,690
2017 $3,295 $195,120 $85,000 $110,120
2016 $4,097 $187,340 $80,000 $107,340
2015 $2,872 $81,200 $0 $0
2014 $2,872 $122,400 $48,000 $74,400
Source: Public Records

Agents Affiliated with this Home

  • Mark Hamilton

    Seller's Agent in 2016

    Mark Hamilton

    Real Estate of Florida Broward County Inc.

    (772) 214-0261

    1 in this area

    41 Total Sales

    Mark Hamilton
    Section Image

  • J

    Seller's Agent in 2015

    John Hernandez

    Southern Key Realty

    (772) 979-4928

    1 in this area

    33 Total Sales

    John Hernandez
    Section Image

  • C

    Buyer's Agent in 2015

    Curtis Richard

    A Buyers Advantage

See All Agents

Map

Source: BeachesMLS

MLS Number: R10200197

BeachesMLS

APN: 17-38-41-010-010-00050-4

Florida Martin County Palm City 34990

1167 SW Spruce St, Palm City, FL

This home is located at 1167 SW Spruce St, Palm City, FL 34990 since 19 January 2016 and is currently estimated at $462,317, approximately $166 per square foot. This property was built in 1972. 1167 SW Spruce St is a home located in Martin County with nearby schools including Bessey Creek Elementary School, Hidden Oaks Middle School, and Martin County High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

BeachesMLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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