Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1527 Midnight Pass Way Clearwater, FL 33765

4 Beds 2 Baths 2,513 sqft Built 1986

$450,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $179.07
  • 2 Days on Market
  • MLS # : U8115048
  • Updated Date : 03/06/2021 at 15:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,513 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wow! This charming 4 bedroom, 2 bathroom executive home is located on a quiet street in the Coachman Ridge subdivision. As you enter the double front doors, you will immediately notice the transient light that shines into the formal dining room through its many windows. The large living room (15’ x 15’) has vaulted ceilings and there is all wood trim throughout the home. The sizeable Master bedroom (21’ x 13’) has vaulted ceilings and a huge walk-in closet that awaits you as you get ready for a day of work, or a night out on the town. The Master bathroom features a garden tub with a separate tile shower, dual sinks, and a built-in desk. The kitchen features a surplus of cabinets for all of your pots, pans, and kitchen utensils. The spacious kitchen offers a range, microwave, refrigerator, trash compactor, dishwasher, and center island. The kitchen has a high-top breakfast bar with seating for four. The second living area is conveniently located off the kitchen and has a delightful wood-burning fireplace which will be the perfect place to gather your family around to share memorable moments. In addition to the Master bedroom, there are three good size bedrooms, a second bathroom, and an indoor laundry room. There is a pocket door that can be closed to provide additional privacy. The 2nd bathroom has access to the outside or can be used as a potential pool bath. The laundry/utility room showcases a washbasin, numerous cabinets, and an extra refrigerator. Adjacent to the living room and through the 3-panel sliding glass doors you have a screened Florida room, perfect for enjoying your favorite book, or for relishing the first energizing sips of your morning coffee. The Florida room also has an outdoor kitchen which is a great place for throwing dinner parties, hosting breakfast or brunch, or even preparing a light snack as you enjoy sitting outside, taking in the comforts of the ambiance. The large garage (25’ x 23’) has a painted floor, garage door opener, and additional cabinets for all your storage needs. The mature landscaping surrounding this split floor plan home is notable. The community offers an optional HOA membership with low dues ($90 annually). This home is conveniently located minutes away from restaurants, grocery stores, shopping, schools, hospitals, beaches and so much more.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Coachman Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $75k478k

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

Neighborhood: Coachman Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $8782626

* 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
Mcmullen-booth Elementary School Primary Regular 729 58 3
Safety Harbor Middle School Middle Regular 1,319 75 5
Countryside High School High Regular 2,175 106 5

Mcmullen-booth Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 58
3
GreatSchools Rating

Safety Harbor Middle School

  • Education Level: Middle
  • # of students: 1,319
  • # of teachers: 75
5
GreatSchools Rating

Countryside High School

  • Education Level: High
  • # of students: 2,175
  • # of teachers: 106
5
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$1,563
Property Tax -$581
Property Insurance -$183
HOA -$8
Property Management Fees -$129
CASH FLOW
$587

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.

$450,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.68%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$89,870

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $3,619

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$3,050
1$3,0502$3,500
$3,500
RENT COMPS ANALYSIS
  • 1527 Midnight Pass Way Clearwater, FL 1
    • 4 beds 2 baths ∙ 2,513 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,513 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.21
    •  
  • 3057 Homestead Ct Clearwater, FL 2
    • 4 beds 4 baths ∙ 2,436 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,436 Sqft ∙ Built 1990
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.44
    •  
PROPERTY LISTING DETAILS
Jodi Avery
1.727.238.9660
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8115048
Last Updated: 03/06/2021
BESbswy