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1406 Canterbury Dr #d Clearwater, FL 33756

3 Beds 2 Baths 1,443 sqft Built 1964

$230,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $159.39
  • 3 Days on Market
  • MLS # : U8113792
  • Updated Date : 02/20/2021 at 12:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,443 sqft
  • Baths : 2 full
Listing Agent

Bhhs Florida Properties Group

Listing Agent's Description

MULTIPLE OFFERS. All offers to be submitted by 2pm Sunday (2/21). Have you been looking for your next home in Clearwater? This 3 bedroom 2 bathroom home with a bonus room could be the one you've been looking for! This home has been cared for over the years and his ready for you to put your stamp on it. The open floor plan with lots of natural light provides a great space to entertain and enjoy time with your friends & family. The back yard has a large storage shed and plenty of space to turn the back yard into your private oasis. Bring your friends/family and your creativity to turn this home into the one you have dreamed about. The best part is, you have the opportunity to build in some equity from day one in a market were prices have continued to climb.

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

Zip Code: 33756

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $75k274k

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

Zip Code: 33756

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781649

* 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
Ponce De Leon Elementary School Primary Regular 556 49 1
Largo Middle School Middle Regular 733 44 3
Largo High School High Magnet 1,677 86 6

Ponce De Leon Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 49
1
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$799
Property Tax -$281
Property Insurance -$120
Property Management Fees -$129
CASH FLOW
$301

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.

$230,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$45,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,627

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6303$1,6454$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 1406 Canterbury Dr #d Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.13
    •  
  • 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
    •  
  • 1849 Betty Ln Largo, FL 3
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1960
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.06
    •  
  • 1638 Monterey Dr Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1982
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.08
    •  
  • 209 Teresa Dr Largo, FL 5
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1960
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.24
    •  
PROPERTY LISTING DETAILS
Donald Hathaway, Iii
1.813.391.6303
Bhhs Florida Properties Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8113792
Last Updated: 02/20/2021
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