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1065 64th Ave S St Petersburg, FL 33705

3 Beds 2 Baths 1,352 sqft Built 1960

$309,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $228.55
  • 3 Days on Market
  • MLS # : U8112776
  • Updated Date : 02/12/2021 at 20:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,352 sqft
  • Baths : 2 full
Listing Agent

Engel & Volkers Madeira Beach

Listing Agent's Description

"Mid-Century meets Coastal Charm" - The best of both worlds come together in this smartly updated home! 3 bedrooms and 2 full bathrooms with an attached one-car garage. The newly polished terrazzo floors allow for easy care maintenance. An open concept living room/ dining room wraps around the completely redesigned kitchen with crisp white shaker cabinets, quartz countertops, stainless appliances, and custom oversized subway tile backsplash. A large screened covered lanai located off the kitchen is perfect for outdoor dining all year round. A large master bedroom, double closets - complete with an en suite bathroom with a walk-in shower. The 2 other bedrooms with ample closet space share an updated hallway bathroom with a tub/shower combo. The completely fenced rear yard has room for a pool. Ideally located with Lake Vista Park just a block away from where you can take advantage of the dog park, public pool, walking track, tennis courts, and a playground. The beaches and all the fun of downtown St Pete has to offer are all within a short drive. Updates include: Roof in 2017 and HVAC 2020.

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

Neighborhood: Greater Pinellas Point

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $76k238k

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

Neighborhood: Greater Pinellas Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7681768

* 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
Lakewood Elementary School Primary Magnet 488 42 1
Bay Point Middle School Middle Magnet 918 62 4
Lakewood High School High Magnet 1,188 72 4

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 42
1
GreatSchools Rating

Bay Point Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 62
4
GreatSchools Rating

Lakewood High School

  • Education Level: High
  • # of students: 1,188
  • # of teachers: 72
4
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,073
Property Tax -$394
Property Insurance -$115
Property Management Fees -$129
CASH FLOW
-$91

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.

$309,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,6203$1,8004$1,8455$1,900
$1,900
RENT COMPS ANALYSIS
  • 1065 64th Ave S St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.20
    •  
  • 2147 66th Ave S St Petersburg, FL 1
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1959
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.28
    •  
  • 2477 66th Ave S St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1973
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.21
    •  
  • 5900 Grove St S St Petersburg, FL 4
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1957
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.46
    •  
  • 1209 Alcazar Way S St Petersburg, FL 5
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1958
    LEASED 01/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.28
    •  
PROPERTY LISTING DETAILS
William Thomas
1.813.335.2304
Engel & Volkers Madeira Beach
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112776
Last Updated: 02/12/2021
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