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1840 Springbush Ln Clearwater, FL 33763

3 Beds 2 Baths 1,854 sqft Built 1985

$339,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $183.33
  • 5 Days on Market
  • MLS # : U8103137
  • Updated Date : 10/31/2020 at 20:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Re/max Realtec Group Inc

Listing Agent's Description

This home is on a corner lot on a quiet street in a premier location, across the street from the Spring Lake Community clubhouse - complete with swimming pool & heated spa, children’s playground, tennis courts, basketball, fitness facility, BBQ area, as well as fishing and kayaking on Spring Lake! Welcome to this warm and inviting 3/2/2 home with 1854 sqft living (PLUS 180sqft screen porch)! Light & cheery home! New luxury vinyl plank flooring and new carpeting in bedrooms! Boasts a brand new Kitchen - a chefs delight with new white cabinetry, granite counter tops and stainless steel appliances, casual dining area and closet pantry! The dining room and living room are an open design with vaulted ceilings and a wood burning fireplace, complimented by hardwood floors! The dining room is quaint & next to the kitchen making entertaining a breeze! The master retreat features high ceilings & bonus area, great for a private office space! Spacious master bath with new jacuzzi tub, his and hers vanities, separate walk-in shower, 2 linen closets and a walk-in closet! Split bedroom plan with inside utility! Totally remodeled 2nd bathroom - new vanity, tile, flooring! Spacious screened porch/sunroom is great for game room and the children’s toys! Privacy fenced backyard is a nice space for grilling and for a child’s playset! This home also comes with added peace of mind thanks to the brand-new roof replaced in 2020! New paint in & out! New water heater! New fans, blinds, fixtures, toilets! Special accents include armchair rail and bump out window in bedrooms! This neighborhood is not in a flood zone. Nicely located in north Clearwater near plenty of popular destinations including 2 miles to Downtown Dunedin Main Street with its shops, boutiques and restaurants. Caladesi Island & Honeymoon Island State Park is only 15 minutes away, Clearwater Beach is only 20 minutes away!

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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: Spring Lakes of Clearwater

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $75k284k

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

Neighborhood: Spring Lakes of Clearwater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781816

* 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
Garrison-jones Elementary School Primary Regular 697 48 5
Dunedin Highland Middle School Middle Magnet 1,060 60 4
Dunedin High School High Regular 1,517 76 4

Garrison-jones Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 48
5
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
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,254
Property Tax -$439
Property Insurance -$144
HOA -$95
Property Management Fees -$80
CASH FLOW
-$52

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.

$339,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.58%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$22,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$1,9604$2,0005$2,099
$2,099
RENT COMPS ANALYSIS
  • 1840 Springbush Ln Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.06
    •  
  • 1838 Seton Dr Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1976
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.14
    •  
  • 2017 Rountree Ct Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1995
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.17
    •  
  • 1567 Coastal Pl Dunedin, FL 4
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 1986
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
  • 2223 Springrain Dr Clearwater, FL 5
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 1988
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $1.04
    •  
PROPERTY LISTING DETAILS
Bradley Uline
1.727.432.5993
Re/max Realtec Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103137
Last Updated: 10/31/2020
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