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PROPERTY INFO
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
- #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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greater Pinellas Point
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$87,635
LOAN DETAILS
$1,073
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $77,250 |
| Loan Amount | $231,750 |
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
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1065 64th Ave S St Petersburg, FL 2
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- $1,620
- $1.20
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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
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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
1.813.335.2304
Engel & Volkers Madeira Beach
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: U8112776
Last Updated: 02/12/2021
