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1677 Pinewood Dr Clearwater, FL 33756

3 Beds 2 Baths 1,558 sqft Built 1961

$349,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $224.01
  • 15 Days on Market
  • MLS # : U8102662
  • Updated Date : 11/09/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,558 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

You will be delighted when you see this home in person. Pictures just don't do it justice. Upon walking up to the home you are greeted by a beautifully pavered large front porch with a welcoming swing for you to sit on and visit with your neighbors. Featuring a true split floor plan and both a living room and family room this home is great for entertaining. Visit with your guests while cooking in the kitchen with stainless appliances or head out to the refreshing pool. Ready to turn in for the night? The master suite features a large bathroom with his and her sinks, a walk-in bathtub, and a generously sized walk-in closet (complete with a built-in safe). This home is on a corner lot with a peaceful backyard, pavered pool deck, and fenced in storage on the side of the home. Noteworthy: quiet neighborhood with mature landscaping, newer double-paned windows, abundance of interior and exterior storage, 2013 Trane A/C, exterior sun awning. All room sizes are approximate and should be verified.

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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

Neighborhood: Pride

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $75k343k

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

Neighborhood: Pride

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Plumb Elementary School Primary Regular 782 56 6
Oak Grove Middle School Middle Regular 1,071 65 3
Clearwater High School High Regular 1,870 89 4

Plumb Elementary School

  • Education Level: Primary
  • # of students: 782
  • # of teachers: 56
6
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
 

$314,100$383,900$349,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,288
Property Tax -$460
Property Insurance -$127
Property Management Fees -$80
CASH FLOW
-$184

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.

$349,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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-$4.0k-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,8503$1,9994$1,9995$2,000
$2,000
RENT COMPS ANALYSIS
  • 1677 Pinewood Dr Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.14
    •  
  • 1519 S Keene Rd Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1960
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.14
    •  
  • 1978 Sandra Dr Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 1969
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.09
    •  
  • 1369 Woodcrest Ave Clearwater, FL 4
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 1958
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.10
    •  
  • 1326 Woodcrest Ave Clearwater, FL 5
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1958
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
PROPERTY LISTING DETAILS
Katie Tacia
1.727.459.2236
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8102662
Last Updated: 11/09/2020
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