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2020 Mcmullen Rd Largo, FL 33771

3 Beds 2 Baths 1,781 sqft Built 1972

$289,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $162.77
  • 3 Days on Market
  • MLS # : U8105138
  • Updated Date : 11/20/2020 at 23:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,781 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

INVESTOR SPECIAL!! HOT LOCATION! 3 bedroom (could be 4 bedrooms), 2 bath, POOL home on large fully-fenced DOUBLE LOT (.44 acre) on Keene Lake. Investor could Flip this property or homeowner can purchase it and renovate to live in! Open floor plan with tons of living space - family room, living room, dining plus a large bonus room. HVAC 2010. Roof 2006. Sold As-Is and priced accordingly. This property won't last long!

SEE MORE

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: 33771

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k238k

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

Zip Code: 33771

ZipNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6911590

* 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
Ponce De Leon Elementary School Primary Regular 556 49 1
Largo Middle School Middle Regular 733 44 3
Largo High School High Magnet 1,677 86 6

Ponce De Leon Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 49
1
GreatSchools Rating

Largo Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 44
3
GreatSchools Rating

Largo High School

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

$260,910$318,890$289,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,070
Property Tax -$427
Property Insurance -$140
Property Management Fees -$80
CASH FLOW
-$27

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.

$289,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,077

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6903$1,8004$1,9105$1,950
$1,950
RENT COMPS ANALYSIS
  • 2020 Mcmullen Rd Largo, FL 2
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.95
    •  
  • 1021 Breeze Dr Largo, FL 1
    • 4 beds 2 baths ∙ 1,514 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,514 Sqft ∙ Built 1980
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 1721 Eaton Dr Ne Clearwater, FL 3
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 1959
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 1721 Dunbar Ln Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1959
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.03
    •  
  • 2288 Mcmullen Rd Largo, FL 5
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1958
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
PROPERTY LISTING DETAILS
Andrea Stoll
1.727.490.9964
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8105138
Last Updated: 11/20/2020
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