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1316 Wood Ave Clearwater, FL 33755

3 Beds 2 Baths 1,116 sqft Built 1960

$229,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $206.00
  • 3 Days on Market
  • MLS # : U8107915
  • Updated Date : 12/19/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,116 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams St Pete Realty

Listing Agent's Description

You could not ask for a more turn-key, move-in ready home! To top it off, the 3 bedroom 1.5 bath 2 car-garage home is in a fantastic location! Updated interior and exterior enhancements has this home in pristine condition for its new owner to enjoy the serene lifestyle Clearwater has to offer! Come see for yourself as this home will not last long! The corner lot gives ample opportunity for boat or RV parking per city code. The shed gives added storage in addition to an oversized 2 car garage. Ideally situated in the heart of town, live the lifestyle you’ve been waiting for! Minutes away from top rated sugar sand beaches, robust arts district, several great golf courses within 5mins. Don’t miss your opportunity to see this home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Highland Pines

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Highland Pines

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391649

* 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
Skycrest Elementary School Primary Regular 696 58 3
Dunedin Highland Middle School Middle Magnet 1,060 60 4
Clearwater High School High Regular 1,870 89 4

Skycrest Elementary School

  • Education Level: Primary
  • # of students: 696
  • # of teachers: 58
3
GreatSchools Rating

Dunedin Highland Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 60
4
GreatSchools Rating

Clearwater High School

  • Education Level: High
  • # of students: 1,870
  • # of teachers: 89
4
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$848
Property Tax -$297
Property Insurance -$101
Property Management Fees -$129
CASH FLOW
$15

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.

$229,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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

PROJECTED ANNUAL CASH FLOW

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

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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$20,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3903$1,5004$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 1316 Wood Ave Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,116 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.25
    •  
  • 1409 N Garden Ave Clearwater, FL 1
    • 3 beds 1 baths ∙ 1,158 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,158 Sqft ∙ Built 1952
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.14
    •  
  • 1803 Springtime Ave Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 1951
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.19
    •  
  • 1900 Nugget Dr Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1958
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.23
    •  
  • 1832 Sharondale Dr Clearwater, FL 5
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.30
    •  
PROPERTY LISTING DETAILS
Jeff Joyner, X
1.727.501.6164
Keller Williams St Pete Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107915
Last Updated: 12/19/2020
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