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1348 Ranchwood Dr Clearwater, FL 33764

4 Beds 2 Baths 2,002 sqft Built 1966

$412,500

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $206.04
  • 7 Days on Market
  • MLS # : U8110350
  • Updated Date : 01/21/2021 at 12:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,002 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Do not miss out on your chance to live in Morningside Estates! Relax in your backyard pool or take a 7 mile drive to Clearwater Beach. Location is key to this home being in the middle of all you want to do. New in 2021 is carpet in the living room - just this week! New in 2020, A/C, duct work with all new blown in insulation. New in 2019, HURRICANE WINDOWS with lifetime warranty, NEW ROOF, NEW PAINT INSIDE AND OUTSIDE, NEW SPRINKLERS on the north side and backyard with swale drain, New Gutters and back yard playground set which does convey. New French drain around the pool in 2018 and nicely hidden with pebbles. There is not much left for you to do. NO FLOOD INSURANCE REQUIRED! Washer and dryer do not convey. Ideal location in a desirable community, close to award winning beaches, shopping, restaurants, airports and all the luxuries of living in Clearwater Florida!

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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

Zip Code: 33764

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $75k250k

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

Zip Code: 33764

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781857

* 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
Oak Grove Middle School Middle Regular 1,071 65 3
Clearwater High School High Regular 1,870 89 4

Belcher Elementary School

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

Oak Grove Middle School

  • Education Level: Middle
  • # of students: 1,071
  • # of teachers: 65
3
GreatSchools Rating

Clearwater High School

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

$371,250$453,750$412,500

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,433
Property Tax -$532
Property Insurance -$153
Property Management Fees -$129
CASH FLOW
-$147

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.

$412,500

PROJECTED PRICE

$2,100

PROJECTED RENT

0.51%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,063

INVESTMENT

$115,063

Down Payment
$103,125
Rehab Estimate
$5,750
Closing Costs
$6,188

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,433

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,125
Loan Amount $309,375
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$16,661

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,087

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0393$2,0504$2,1005$2,199
$2,199
RENT COMPS ANALYSIS
  • 1348 Ranchwood Dr Clearwater, FL 4
    • 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1966 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.05
    •  
  • 2259 Harn Blvd Clearwater, FL 1
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1965
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 1400 S Hercules Ave Clearwater, FL 2
    • 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 1965
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,039
    • $0.99
    •  
  • 2194 Oak Grove Dr Clearwater, FL 3
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1970
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.02
    •  
  • 2170 College Dr Clearwater, FL 5
    • 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 1961
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.17
    •  
PROPERTY LISTING DETAILS
Chris Mcclure
1.727.459.1870
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110350
Last Updated: 01/21/2021
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