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1954 Pinellas Point Dr St Petersburg, FL 33712

3 Beds 2 Baths 1,994 sqft Built 1977

$425,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $213.14
  • 5 Days on Market
  • MLS # : U8113445
  • Updated Date : 02/17/2021 at 12:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent

Century 21 Coastal Alliance

Listing Agent's Description

A beautiful custom - style home. The living room has soaring cathedral ceiling and floor to ceiling fireplace. The kitchen is wide open to the family room, dining area and screened pool. It has plenty of space double sink and pantry.The master suite has his and hers closets, double sinks , separate vanity and step down garden shower. The split bedroom plan allows for privacy with second bedrooms and garden bath on the opposite side of the house. The lot has mature landscaping and there is a large 2 car garage. The roof was replaced in 2020 and there is a newer pool heater and pump. The home won a Pinellas Point beautification Award.

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: Greater Pinellas Point

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $76k238k

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

Neighborhood: Greater Pinellas Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7681768

* 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
Maximo Elementary School Primary Magnet 457 44 2
Bay Point Middle School Middle Magnet 918 62 4
Lakewood High School High Magnet 1,188 72 4

Maximo Elementary School

  • Education Level: Primary
  • # of students: 457
  • # of teachers: 44
2
GreatSchools Rating

Bay Point Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 62
4
GreatSchools Rating

Lakewood High School

  • Education Level: High
  • # of students: 1,188
  • # of teachers: 72
4
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,476
Property Tax -$541
Property Insurance -$152
Property Management Fees -$129
CASH FLOW
$61

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.

$425,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.56%

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$1.2M$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$36,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,154

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8753$2,2004$2,3605$2,500
$2,500
RENT COMPS ANALYSIS
  • 1954 Pinellas Point Dr St Petersburg, FL 4
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.18
    •  
  • 6290 20th Way S St Petersburg, FL 1
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1964
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 2001 Pinellas Point Dr S St Petersburg, FL 2
    • 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,822 Sqft ∙ Built 1960
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.03
    •  
  • 1471 Pinellas Point Dr S St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1960
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
  • 2338 Coronada Way S St Petersburg, FL 5
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 1975
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.07
    •  
PROPERTY LISTING DETAILS
Randall Ierna
1.727.647.0813
Century 21 Coastal Alliance
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8113445
Last Updated: 02/17/2021
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