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15332 Newport Rd Clearwater, FL 33764

3 Beds 2 Baths 1,012 sqft Built 1960

$225,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $222.33
  • 3 Days on Market
  • MLS # : U8112623
  • Updated Date : 02/12/2021 at 18:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,012 sqft
  • Baths : 1 full , 1 half
Listing Agent

Smith & Associates Real Estate

Listing Agent's Description

Peaceful, Quiet, and Convenient Describe This 3 Bedroom 1 ½ Bathroom Cutie. Located on Swan Lake in Clearwater Just Off East Bay Rd. You will Leave Your 1 Car Garage and Head East to Work or West to The Gulf of Mexico. You Can Always Stay Home and Enjoy The Restful Quiet While Lounging by The Serene Lake In Your Own Fenced In Back Yard, or Take A Walk in the Exercise Friendly neighborhood. Whatever You Choose You Won’t Be disappointed. With A Little TLC You Can Make This Little Sanctuary Your New Home. Roof 2006, AC 2017, New Electric 2020.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $55k252k

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

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7391727

* 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
Frontier Elementary School Primary Regular 704 55 8
Fitzgerald Middle School Middle Magnet 1,137 68 4
Pinellas Park High School High Magnet 2,173 109 4

Frontier Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 55
8
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$782
Property Tax -$294
Property Insurance -$95
Property Management Fees -$129
CASH FLOW
$51

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.

$225,000

PROJECTED PRICE

$1,350

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$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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$19,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,5494$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 15332 Newport Rd Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.33
    •  
  • 15316 Bedford Cir W Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.19
    •  
  • 3401 Keene Park Dr Largo, FL 3
    • 3 beds 2 baths ∙ 1,043 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,043 Sqft ∙ Built 1969
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.49
    •  
  • 15573 Bedford Cir E Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,095 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,095 Sqft ∙ Built 1959
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.42
    •  
  • 3438 Keene Park Dr Largo, FL 5
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1969
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.26
    •  
PROPERTY LISTING DETAILS
Madeline Carriger
1.727.288.6181
Smith & Associates Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112623
Last Updated: 02/12/2021
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