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1075 55th Ave S St Petersburg, FL 33705

3 Beds 2 Baths 1,544 sqft Built 1962

$286,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $185.82
  • 2 Days on Market
  • MLS # : U8104089
  • Updated Date : 11/08/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Hartney Realty & Development

Listing Agent's Description

Welcome home to this beautiful and spacious 3 bedrooms 2 bath St Pete home! If you are looking for the perfect starter or family home, look no further. This home has been TOTALLY RENOVATED by the owner and includes upgrades perfectly fit for a first time home buyer or growing family. The totally remodeled kitchen features solid wood Jarlin cabinets, granite countertops, stainless steel appliances, custom backsplash, and a designer faucet. The bathroom features the same level of upgrades including custom vanity, granite countertops, designer tile, and new hardware. Throughout the home you'll find countless desirable features such as the bonus nook off the kitchen, semi-open floorplan, HIS AND HER master closets, and more! Other upgrades include NEW ROOF (2020), new flooring throughout, new paint, new LED light fixtures, and MORE!! All of these amenities and upgrades are complimented by the unique curb appeal of the home which sits on a quiet street just minutes from Downtown St Pete! This home has many desirable features and is a must see. Please call us to set up a showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$258,210$315,590$286,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,059
Property Tax -$365
Property Insurance -$126
Property Management Fees -$80
CASH FLOW
$120

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.

$286,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.61%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,779

INVESTMENT

$81,779

Down Payment
$71,725
Rehab Estimate
$5,750
Closing Costs
$4,304

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,725
Loan Amount $215,175
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$38,245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,7504$1,7705$1,800
$1,800
RENT COMPS ANALYSIS
  • 1075 55th Ave S St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 755 Alamanda Way S St Petersburg, FL 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1947 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1947
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
  • 400 63rd Ave S St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1956
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 2124 63rd Ave S St Petersburg, FL 4
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1960
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.16
    •  
  • 6290 20th Way S St Petersburg, FL 5
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1964
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
PROPERTY LISTING DETAILS
Keaton Connolly
1.843.372.9515
Hartney Realty & Development
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104089
Last Updated: 11/08/2020
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