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2062 San Sebastian Way N Clearwater, FL 33763

4 Beds 2 Baths 1,645 sqft Built 1973

$199,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $120.97
  • 4 Days on Market
  • MLS # : A4485262
  • Updated Date : 12/04/2020 at 10:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,645 sqft
  • Baths : 2 full
Listing Agent

Relax Realty Group Inc

Listing Agent's Description

Looking for a property to put your stamp on?! Come check out this blank slate! The perfect starter home! 4 bedrooms, 2 baths, 1,645 square feet with detached garage has plenty of potentials and is waiting for its next owners. The first-floor host a main level bedroom and spacious in-home laundry. Sliders lead from the living room to a screened-in back patio and fenced in backyard which is perfect for relaxing, grilling & entertaining year-round. This home has a new roof as of 2020and a newer AC unit. Add your own personal touches and enjoy the Florida life! Why wait?!? Come visit and see how this can be your next home. The Valencia Park community features 2 pools(one pool is located at the end of the cul-de-sac), tennis courts, basketball courts, and a playground. You will be centrally located to both the Tampa International Airport & St Pete/Clearwater Airport, beautiful beaches, shopping & restaurants at the Westfield Countryside Mall, great schools, & a short drive to Tampa's Busch Gardens, Lowry Park Zoo & Adventure Island. All this home needs is your finishing touches to make it your own! All information provided is believed to be accurate & should be verified by the buyer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Valencia Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $62k238k

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

Neighborhood: Valencia Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8721649

* 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
Dunedin Elementary School Primary Regular 625 50 2
Dunedin Highland Middle School Middle Magnet 1,060 60 4
Dunedin High School High Regular 1,517 76 4

Dunedin Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 50
2
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
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$734
Property Tax -$257
Property Insurance -$132
HOA -$26
Property Management Fees -$129
CASH FLOW
$552

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.

$199,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.92%

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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

17

YEARS SAVED

$65,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,933

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8254$1,8305$2,000
$2,000
RENT COMPS ANALYSIS
  • 2062 San Sebastian Way N Clearwater, FL 4
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.11
    •  
  • 1838 Seton Dr Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1976
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.14
    •  
  • 2242 Willow Tree Trl Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1977
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
  • 775 Kirkland Cir Dunedin, FL 3
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1981
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.23
    •  
  • 65 Ventura Dr Dunedin, FL 5
    • 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1963
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
PROPERTY LISTING DETAILS
Katherine Blazer
1.865.257.1214
Relax Realty Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485262
Last Updated: 12/04/2020
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