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1707 Greenlea Dr Clearwater, FL 33755

3 Beds 3 Baths 1,079 sqft Built 1962

$279,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $258.57
  • 7 Days on Market
  • MLS # : U8104254
  • Updated Date : 11/14/2020 at 17:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,079 sqft
  • Baths : 3 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Enjoy the best of living in this remodeled single-family home! Look no further!!! No HOA!! Imagine your corner lot enclosed by a new vinyl fence around your screen enclosed kidney-shaped pool. The pool has been resurfaced and is ready for you and your guests to enjoy immediately. Talk about storage! There is enough room inside the fenced backyard to accommodate a stand-alone 8-12ft new “Tuff Shed” (wood with shingle roof). The fence has a double gate at the side-yard for a boat or RV. Updated kitchen featuring lots of new wood cabinets, quartz countertops, and updated appliances. All windows in this charming home have been replaced by new energy-efficient "missile impact" windows. The garage has been converted beautifully into a third bedroom and you still have storage. All new in 2020 – hot water heater, pool pump, vinyl fence, kitchen remodel, plumbing fixtures, lighting fixtures, water filtration system, pool resurfaced, and shed from Home Depot. Shingle roof replaced in 2013. Within minutes to Clearwater Beach, shopping, and dining! Call for a private showing today!!

SEE MORE

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: 33755

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Zip Code: 33755

ZipNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391649

* 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
Sandy Lane Elementary School Primary Regular 416 44 1
Dunedin Highland Middle School Middle Magnet 1,060 60 4
Dunedin High School High Regular 1,517 76 4

Sandy Lane Elementary School

  • Education Level: Primary
  • # of students: 416
  • # of teachers: 44
1
GreatSchools Rating

Dunedin Highland Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 60
4
GreatSchools Rating

Dunedin High School

  • Education Level: High
  • # of students: 1,517
  • # of teachers: 76
4
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,029
Property Tax -$373
Property Insurance -$99
Property Management Fees -$80
CASH FLOW
$39

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.

$279,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.58%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$26,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5953$1,6204$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1707 Greenlea Dr Clearwater, FL 3
    • 3 beds 3 baths ∙ 1,079 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,079 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.50
    •  
  • 1707 Lombardy Dr Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1958
    property image
    LEASED 05/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.25
    •  
  • 1900 Nugget Dr Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1958
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.23
    •  
  • 1943 Hastings Dr Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1975
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.33
    •  
  • 1832 Sharondale Dr Clearwater, FL 5
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.30
    •  
PROPERTY LISTING DETAILS
Andrea Lee
1.727.449.0944
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104254
Last Updated: 11/14/2020
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