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1012 N Madison Ave Clearwater, FL 33755

3 Beds 2 Baths 1,230 sqft Built 1990

$229,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $186.91
  • 4 Days on Market
  • MLS # : U8108619
  • Updated Date : 01/01/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,230 sqft
  • Baths : 2 full
Listing Agent

Ez Choice Realty

Listing Agent's Description

Absolutely GORGEOUS, FULLY REMODELED, very spacious home in the heart of Clearwater. This home is move-in ready with 3 bedrooms, 2 baths and a large living room. The kitchen is fully remodeled with granite countertops, tile backsplash and stainless steel appliances. The home has been freshly painted throughout the outside and inside including the sidewalk. The home also has brand new roof!! Very large fenced back yard that could accommodate a pool. It also features a patio area in front of the master bedroom and spacious shed in the backyard. Inside laundry room. No HOA fees or deed restrictions. Close to schools, famous beaches and shops. Schedule your showing today, it won’t last long!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 33755

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Zip Code: 33755

ZipNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391649

* 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
Sandy Lane Elementary School Primary Regular 416 44 1
Dunedin Highland Middle School Middle Magnet 1,060 60 4
Clearwater High School High Regular 1,870 89 4

Sandy Lane Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 44
1
GreatSchools Rating

Dunedin Highland Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 60
4
GreatSchools Rating

Clearwater High School

  • Education Level: High
  • # of students: 1,870
  • # of teachers: 89
4
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$848
Property Tax -$297
Property Insurance -$108
Property Management Fees -$129
CASH FLOW
$168

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.

$229,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$37,263

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4994$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1012 N Madison Ave Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.26
    •  
  • 1473 Cleveland St Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,097 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,097 Sqft ∙ Built 2002
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.23
    •  
  • 1738 Jade Ave Clearwater, FL 2
    • 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1976 3 beds 1 baths ∙ 1,080 Sqft ∙ Built 1976
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.29
    •  
  • 1324 Jeffords St Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1983
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.23
    •  
  • 1832 Sharondale Dr Clearwater, FL 5
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.30
    •  
PROPERTY LISTING DETAILS
Michaela Moravcova
1.727.637.6715
Ez Choice Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108619
Last Updated: 01/01/2021
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