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12170 68th Way Largo, FL 33773

3 Beds 2 Baths 1,384 sqft Built 1977

$295,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $213.15
  • 3 Days on Market
  • MLS # : U8109222
  • Updated Date : 01/08/2021 at 18:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,384 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rlty Seminole

Listing Agent's Description

Located in Pinebrook Estates, one of Pinellas County’s most conveniently situated neighborhoods, this 3 Bedroom, 2 bath home has been intelligently updated to allow the new owner ultimate peace of mind for years to come. Updates include hurricane rated windows and sliders, roof replaced just 2 years ago offering over 20 years of life, brand new vinyl fence, HVAC from 2016 and updated wood flooring in living room and all the bedrooms, just to name a few of the improvements! From the moment you drive up, you will feel the sense of pride in ownership that has been taken as you walk up the walkway lined by meticulously maintained landscaping. As you walk in, you’ll have plenty of options whether it’s to sit and relax in your living room or head over to the right where you will enjoy plenty of family time in the kitchen/dining/family room combo. The open concept kitchen has storage overload allowing you to maximize every area plus the charming convenience of natural light entering through the kitchen window and large hurricane impact sliders that take you to the spacious back yard. All rooms offer plenty of space and have the added convenience of high-end ceiling fans with added lighting. The master bedroom offers lots of storage, access to the back yard, plus a floor safe to keep all of your valuables in. Make sure to take a walk around the entire back yard that offers plenty of options for a play area on the opposite side! Pinebrook offers a community park with basketball courts and even a playground for the pups!

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: Pinebrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k257k

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

Neighborhood: Pinebrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8611675

* 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
Walsingham Elementary School Primary Regular 563 43 3
Fitzgerald Middle School Middle Magnet 1,137 68 4
Pinellas Park High School High Magnet 2,173 109 4

Walsingham Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 43
3
GreatSchools Rating

Fitzgerald Middle School

  • Education Level: Middle
  • # of students: 1,137
  • # of teachers: 68
4
GreatSchools Rating

Pinellas Park High School

  • Education Level: High
  • # of students: 2,173
  • # of teachers: 109
4
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,025
Property Tax -$360
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
$70

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.

$295,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.58%

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

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$28,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7504$1,7755$1,950
$1,950
RENT COMPS ANALYSIS
  • 12170 68th Way Largo, FL 1
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.23
    •  
  • 6421 Elmhurst Dr N Pinellas Park, FL 2
    • 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1978
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.41
    •  
  • 11134 Oakhaven Dr N Pinellas Park, FL 3
    • 4 beds 2 baths ∙ 1,335 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,335 Sqft ∙ Built 1979
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.31
    •  
  • 11840 69th Way Largo, FL 4
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1979
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.21
    •  
  • 7280 118th Ter Largo, FL 5
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1981
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
PROPERTY LISTING DETAILS
Carolina Piamba
1.951.201.8144
Keller Williams Rlty Seminole
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8109222
Last Updated: 01/08/2021
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