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11146 51st Ave N St Petersburg, FL 33708

3 Beds 2 Baths 1,728 sqft Built 1964

$349,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $201.97
  • 25 Days on Market
  • MLS # : U8111390
  • Updated Date : 02/20/2021 at 20:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 2 full
Listing Agent

Fl Investment Realty Llc

Listing Agent's Description

LOCATION, LOCATION, LOCATION! VERY CLOSE TO THE BEACH AND NO FLOOD INSURANCE, NO HOA, NO CDD. This marvelous updated spacious 3 bedroom 2-bathroom 1 car garage, screened porch house is perfectly situated with in a short bike distance to the beautiful Gulf beaches. This perfect house with open floor plan has a large fenced in corner lot with plenty space for a pool and additional parking for cars, boats and RV. The house has brand new waterproof laminate floor throughout, new AC in 2019, new water heater and new painting inside and outside, new beautiful light fixtures, updated master bathroom. It is minutes from Baypines Regional VA facility, Pinellas Trail is just up the road, ride across to Boca Ciega Bay to enjoy boating and canoeing, beautiful waterfront park, new shopping center with Walmart, new restaurants and coffee shops, new Seminole mall. Enjoy being close to beaches, shopping and high rated Seminole schools. Great location within Madeira Beach Fundamental, Orange Grove Elementary and Seminole High School district. Only 2.5 miles away to Baypines boat ramp and canoe launch or walk an evening stroll only 2.3miles to Madiera Beach. Flat roof was replaced October 2017 and the electrical panel was updated in 2017. It doesn't get better than this, make arrangements to see this great home today! MAKE THIS HOUSE A MONEY MAKER RENTING IT ON AIRBNB. New Kitchen can be installed before closing. See the attachment. New roof will be installed with the acceptable offer. Owner is motivated.

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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

Zip Code: 33708

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $76k359k

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

Zip Code: 33708

ZipNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052537

* 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
Orange Grove Elementary School Primary Regular 355 25 9
Osceola Middle School Middle Regular 1,162 65 5
Seminole High School High Regular 2,133 103 5

Orange Grove Elementary School

  • Education Level: Primary
  • # of students: 355
  • # of teachers: 25
9
GreatSchools Rating

Osceola Middle School

  • Education Level: Middle
  • # of students: 1,162
  • # of teachers: 65
5
GreatSchools Rating

Seminole High School

  • Education Level: High
  • # of students: 2,133
  • # of teachers: 103
5
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,212
Property Tax -$439
Property Insurance -$137
Property Management Fees -$129
CASH FLOW
-$37

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.

$349,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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$5.0k$10k$15k

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,125

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,8804$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 11146 51st Ave N St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.09
    •  
  • 11160 53rd Ave N St Petersburg, FL 1
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1956
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
  • 10291 Blossom Lake Dr Seminole, FL 2
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1964
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.12
    •  
  • 11029 51st Ave N St Petersburg, FL 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1952
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.34
    •  
  • 11400 Walker Ave Seminole, FL 5
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1964
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.29
    •  
PROPERTY LISTING DETAILS
Alla Panteleeva
1.727.363.6000
Fl Investment Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8111390
Last Updated: 02/20/2021
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