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1146 Porter Dr Largo, FL 33771

3 Beds 2 Baths 1,423 sqft Built 1960

$267,500

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $187.98
  • 3 Days on Market
  • MLS # : T3279781
  • Updated Date : 12/12/2020 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,423 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Great 3 Bedroom, 2 Full Bath, 2 Car Garage, Single Family Block Home on just under ¼ acre with 80 ft of Lake frontage. This home has been meticulously and lovingly maintained and is located in the tree lined, mid-county, Suburban Estates community with NO HOA Fees and NO Flood Insurance required. Lush, mature landscaping and inviting tiled front porch area. This home is light and bright throughout w/open plan and has beautiful lakefront views from almost every room. Kitchen w/breakfast bar and pass-through window to Lanai, newer microwave, cooktop & dishwasher. Front living room w/painted brick accent wall. Master bedroom, large closet w/built in shelving. Adorable “retro style” (Yellow & Grey) master bath with Shower/Tub combo. Good size 2nd & 3rd bedrooms. 2nd full Bath is off the family room with an access door to family room and a 2nd door to the garage. The Family Room/Sun Room will be your favorite room to “hang out in” with wall to wall windows showcasing the beautiful backyard and views of the lake. Family Room also features modern plantation shutters on all windows. Sliding doors from the family room lead you to what may be even more impressive, a semi-enclosed screened Lanai (20x13), a great space for entertaining family and friends. Also, a large outdoor paver area next to the covered Lanai to add to your entertainment space. Fencing on Lake is allowed up to 6 ft (Wood, Vinyl & Chain link). Water from Lake is used for Sprinkler system which provides a great savings. Home is conveniently located near Eagle Lake Park, the Largo Community Center, the Largo Recreation Center, schools, shopping, beaches and downtown St Petersburg. Don’t delay… this is a beautiful, super clean home that could become yours today!

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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: 33771

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k238k

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

Zip Code: 33771

ZipNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6911590

* 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
Belcher Elementary School Primary Regular 673 50 4
Largo Middle School Middle Regular 733 44 3
Largo High School High Magnet 1,677 86 6

Belcher Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 50
4
GreatSchools Rating

Largo Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 44
3
GreatSchools Rating

Largo High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 86
6
GreatSchools Rating
 

$240,750$294,250$267,500

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$987
Property Tax -$326
Property Insurance -$119
Property Management Fees -$129
CASH FLOW
$9

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.

$267,500

PROJECTED PRICE

$1,570

PROJECTED RENT

0.59%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$76,638

INVESTMENT

$76,638

Down Payment
$66,875
Rehab Estimate
$5,750
Closing Costs
$4,013

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$987

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,875
Loan Amount $200,625
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,587

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5703$1,5954$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1146 Porter Dr Largo, FL 2
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.10
    •  
  • 1630 Fortune Dr Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1961
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 1705 Woodridge Dr Clearwater, FL 3
    • 4 beds 2 baths ∙ 1,493 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,493 Sqft ∙ Built 1963
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 1684 Suffolk Dr Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1969
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 1107 Stephen Foster Dr Largo, FL 5
    • 3 beds 3 baths ∙ 1,489 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,489 Sqft ∙ Built 1963
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.14
    •  
PROPERTY LISTING DETAILS
Marlene Leonard
1.727.424.4635
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279781
Last Updated: 12/12/2020
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