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1887 Ridgeway Dr Clearwater, FL 33755

4 Beds 2 Baths 2,083 sqft Built 1971

$320,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $153.62
  • 7 Days on Market
  • MLS # : U8109563
  • Updated Date : 01/12/2021 at 11:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,083 sqft
  • Baths : 2 full
Listing Agent

Re/max Acr Elite Group Inc

Listing Agent's Description

SPACIOUS FOUR BEDROOM SPLIT PLAN HOME WITH NEWER (FEB'17) SHINGLE ROOF, AND NEARLY ALL NEWER DUAL PANE INSULATED WINDOWS THROUGHOUT! NEWER HOT WATER HEATER! LARGE CORNER LOT (.24 ACRE), WITH MAGNIFICENT OAKS & MATURE LANDSCAPING. LARGE FRONT LIVING ROOM, DINING AREA, FAMILY ROOM & REAR "BONUS ROOM" AREA! OTHER FEATURES INCLUDE: COMFORTABLY SIZED BEDROOMS; WALK-IN CLOSET IN MASTER BEDROOM; INSIDE UTILITY ROOM; AND WOOD FLOORING IN FAMILY ROOM & HALL. EASY ACCESS/ STEP DOWN SHOWER IN MASTER. ATTACHED OUTSIDE STORAGE ROOM & REAR ENCLOSED PORCH WITH VINYL WINDOWS & SPA! HOME IS A TRUE 4BR! *SOLD "AS IS, WITH RIGHT TO INSPECT" *SEE PHOTOS & VIRTUAL TOUR! *PROVIDE PROOF OF FUNDS OR PRE-APPROVAL FOR FINANCING WITH ANY OFFER.

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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

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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,111
Property Tax -$413
Property Insurance -$157
Property Management Fees -$129
CASH FLOW
$99

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.

$320,000

PROJECTED PRICE

$1,910

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$200k$400k$600k$800k$1.0M$1.2M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$30,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,010

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8754$1,9105$2,275
$2,275
RENT COMPS ANALYSIS
  • 1887 Ridgeway Dr Clearwater, FL 4
    • 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.92
    •  
  • 1848 N Keene Rd Clearwater, FL 1
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 1966
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 1565 Long St Clearwater, FL 2
    • 4 beds 2 baths ∙ 1,886 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,886 Sqft ∙ Built 1973
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 1701 Scott St Clearwater, FL 3
    • 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1958 4 beds 2 baths ∙ 1,852 Sqft ∙ Built 1958
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.01
    •  
  • 2080 Brendla Rd Clearwater, FL 5
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 1974
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.95
    •  
PROPERTY LISTING DETAILS
Fred Rushing, Jr
1.727.410.5400
Re/max Acr Elite Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8109563
Last Updated: 01/12/2021
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