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1960 Cecil St Largo, FL 33774

3 Beds 2 Baths 1,144 sqft Built 1966

$215,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $187.94
  • 2 Days on Market
  • MLS # : U8104754
  • Updated Date : 11/15/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,144 sqft
  • Baths : 2 full
Listing Agent

Sefair Investments Inc

Listing Agent's Description

Wonderfully Updated Home! New roof and DUAL ZONE AC system in 2018! Home is ready for its new owner, needs a few finishing touchs to fully bring the home into its full glory. Great split floor plan, perfect for a growing family or to fill the need for an at home office. The home is only a few minutes away from all of Florida's lovely natural amenities including beaches and public parks. Dont let this one get away! Property is being sold “AS-IS” with right to inspect. It is the buyers and buyer’s agent responsibility to verify all room measurements, utilities info, lot size, schools zoning, building addition permits, building materials, along with all property information in this listing. All room measurements and dimensions are estimates.

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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: 33774

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k243k

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

Zip Code: 33774

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8611854

* 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
Ridgecrest Elementary School Primary Magnet 790 52 6
Seminole Middle School Middle Regular 1,159 68 5
Largo High School High Magnet 1,677 86 6

Ridgecrest Elementary School

  • Education Level: Primary
  • # of students: 790
  • # of teachers: 52
6
GreatSchools Rating

Seminole Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 68
5
GreatSchools Rating

Largo High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 86
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$793
Property Tax -$262
Property Insurance -$103
Property Management Fees -$80
CASH FLOW
$222

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.

$215,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.68%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$43,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,4254$1,4605$1,500
$1,500
RENT COMPS ANALYSIS
  • 1960 Cecil St Largo, FL 4
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.28
    •  
  • 2544 Adrian Ave Largo, FL 1
    • 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,022 Sqft ∙ Built 1956
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.27
    •  
  • 2777 21st Ave Sw Largo, FL 2
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.40
    •  
  • 2642 20th Ave Sw Largo, FL 3
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.43
    •  
  • 2702 20th Ave Sw Largo, FL 5
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1972
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.50
    •  
PROPERTY LISTING DETAILS
Jeffery Wills Pa
1.727.364.1970
Sefair Investments Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104754
Last Updated: 11/15/2020
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