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1960 Ridgewood Dr Clearwater, FL 33763

3 Beds 1 Baths 1,272 sqft Built 1979

$265,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $208.33
  • 19 Days on Market
  • MLS # : U8112053
  • Updated Date : 02/20/2021 at 15:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 1 full
Listing Agent

Chase Real Estate, Inc

Listing Agent's Description

This lovely, cozy home is centrally located and is CLOSE TO EVERYTHING! Fabulous Clearwater Beach, Dunedin, Caladesi Island, Malls, Restaurants, Parks, Resorts and Golf Courses are minutes away! It's an easy hop to the Tampa Int. Airport!!!! Also, nearby are excellent schools from the Dunedin School district as well as a great K-8 Charter School within walking distance!! There is a fenced in back yard with a patio for entertaining or cooking out, an extra deep garage with plenty of room for storage, newer Appliances, tile and laminate floors and a renovated bath and eat in kitchen. The home has been beautifully maintained and is ready for a new family to just move in!

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: Lake Pines Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $63k238k

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

Neighborhood: Lake Pines Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7921649

* 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$920
Property Tax -$349
Property Insurance -$110
Property Management Fees -$129
CASH FLOW
-$29

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.

$265,000

PROJECTED PRICE

$1,480

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$16,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,507

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,6953$1,6954$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1960 Ridgewood Dr Clearwater, FL 1
    • 3 beds 1 baths ∙ 1,272 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,272 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.16
    •  
  • 2086 Shadow Ln Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1963
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.19
    •  
  • 2068 Loma Linda Way N Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1973
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.17
    •  
  • 536 Belmist Ct Dunedin, FL 4
    • 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 1980
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.21
    •  
  • 2017 Rountree Ct Clearwater, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Robert Porter, Iii
1.727.410.4676
Chase Real Estate, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112053
Last Updated: 02/20/2021
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