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

1717 Faulds Rd S Clearwater, FL 33756

4 Beds 2 Baths 1,854 sqft Built 1963

$300,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $161.81
  • 4 Days on Market
  • MLS # : U8108095
  • Updated Date : 12/26/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

A true 4 bedroom, 2 bathroom split floor plan home! Fantastic location! Convenient to shopping, the Interstate and minutes to World Famous Clearwater Beach. Flood insurance is NOT required. Roof was installed in 2017, carefree terrazzo flooring in most of the home. An open floor plan with a living, dining room combination and a separate large family room with a charming fireplace which leads out to a nice size screen enclosed porch. A very nice size yard. Come make this home your own today!

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

Neighborhood: Bel-Keene

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $75k480k

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

Neighborhood: Bel-Keene

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8782056

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,107
Property Tax -$395
Property Insurance -$144
Property Management Fees -$129
CASH FLOW
$285

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.

$300,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.69%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$58,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,063

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9103$1,9994$2,0605$2,100
$2,100
RENT COMPS ANALYSIS
  • 1717 Faulds Rd S Clearwater, FL 4
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.11
    •  
  • 1519 S Keene Rd Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1960
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.14
    •  
  • 1721 Dunbar Ln Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1959
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.03
    •  
  • 1369 Woodcrest Ave Clearwater, FL 3
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 1958
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.10
    •  
  • 1631 Harmony Dr Clearwater, FL 5
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1964
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.18
    •  
PROPERTY LISTING DETAILS
Melody Hunter
1.727.420.3234
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108095
Last Updated: 12/26/2020
BESbswy