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1973 Sourwood Blvd Dunedin, FL 34698

3 Beds 2 Baths 1,553 sqft Built 1974

$364,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $234.96
  • 2 Days on Market
  • MLS # : U8107414
  • Updated Date : 12/13/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,553 sqft
  • Baths : 2 full
Listing Agent

Ascent Realty

Listing Agent's Description

Live In Paradise!! This Move In Ready Dunedin home has been Beautifully Updated and features an Open Layout, Spacious Rooms, Lots of Closets, and a Tiled All Season Lanai, which provides additional square footage and a great place to relax and enjoy the amazing Florida weather all year round. Additional features include a Brand New Roof, Oversized 2 Car Garage with New Garage Doors, New Appliances, and High End Finishes such as Brazilian Marble Countertops and New Luxury Vinyl Flooring Throughout. Ravenwood Manor is an established neighborhood that is just minutes from Downtown Dunedin, the Marina, and the Beautiful Beaches of Caladesi and Honeymoon Islands. Nearby are waterfront resorts with restaurants and tiki bars, public docks and fishing piers, parks with waterfront access, an outdoor exercise area, play areas, pavilions, grills, and kayak launches into St. Joseph Sound. You also have easy access to schools, hospitals, public transportation, community centers, shops, entertainment, the Pinellas Trail, and World Famous Clearwater Beach. This home is perfect for a primary residence or a vacation home. Relax at the beach, enjoy the charming markets, art, music, food, dog friendly establishments, and festivals that Downtown Dunedin is known for, or explore Pinellas County via the Pinellas Trail. Schedule your opportunity to see this Gorgeous home today!!

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 34698

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k242k

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

Zip Code: 34698

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8781846

* 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
Palm Harbor Middle School Middle Regular 1,375 75 6
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

Palm Harbor Middle School

  • Education Level: Middle
  • # of students: 1,375
  • # of teachers: 75
6
GreatSchools Rating

Dunedin High School

  • Education Level: High
  • # of students: 1,517
  • # of teachers: 76
4
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,346
Property Tax -$413
Property Insurance -$127
Property Management Fees -$129
CASH FLOW
-$45

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.

$364,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.54%

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

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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$27,827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,968

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8254$1,9705$2,100
$2,100
RENT COMPS ANALYSIS
  • 1973 Sourwood Blvd Dunedin, FL 4
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.27
    •  
  • 1922 Belcher Rd Dunedin, FL 1
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1973
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.20
    •  
  • 2274 Marsha Dr Dunedin, FL 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.21
    •  
  • 1730 Sutton Pl Dunedin, FL 3
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1980
    property image
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.31
    •  
  • 1404 Sandalwood Dr Dunedin, FL 5
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1974
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.35
    •  
PROPERTY LISTING DETAILS
Amber Massotto
1.727.485.4418
Ascent Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107414
Last Updated: 12/13/2020
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