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2109 University Ct Clearwater, FL 33764

3 Beds 3 Baths 1,954 sqft Built 1962

$340,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $174.00
  • 2 Days on Market
  • MLS # : U8103367
  • Updated Date : 11/03/2020 at 02:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,954 sqft
  • Baths : 3 full
Listing Agent

Eckert Realty & Property Mgmt

Listing Agent's Description

MASTER THE POSSIBILITIES OF THIS LARGE OVERSIZED CORNER LOT, TRUE 3 BEDROOM 3 BATH HOME, ALL THE MAJORS HAVE BEEN DONE FOR YOU! WINDOWS 2019, EXTERIOR PAINT 2020, ROOF 2017, HVAC 2018. THIS LARGE LIVING ROOM, DINING ROOM, FAMIY ROOM, BONUS ROOM, TERRAZZO FLOORS THROUGHOUT, LOTS OF CLOSETS AND STORAGE PLUS STORAGE SHED, PATIO OUT BACK, LARGE CIRCULAR DRIVEWAY, PLUS DOUBLE SIDE DRIVEWAY WITH TWO CAR GARAGE. SHOPPING, PUBLIX, WALMART, CLEARWATER MALL, STARBUCK'S, BEALL'S, RESTAURANTS JUST TO NAME A FEW THINGS NEARBY!

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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: University Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $75k343k

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

Neighborhood: University Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* 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
Plumb Elementary School Primary Regular 782 56 6
Oak Grove Middle School Middle Regular 1,071 65 3
Clearwater High School High Regular 1,870 89 4

Plumb Elementary School

  • Education Level: Primary
  • # of students: 782
  • # of teachers: 56
6
GreatSchools Rating

Oak Grove Middle School

  • Education Level: Middle
  • # of students: 1,071
  • # of teachers: 65
3
GreatSchools Rating

Clearwater High School

  • Education Level: High
  • # of students: 1,870
  • # of teachers: 89
4
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,254
Property Tax -$439
Property Insurance -$150
Property Management Fees -$80
CASH FLOW
-$73

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.

$340,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$22,208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9004$1,9505$2,039
$2,039
RENT COMPS ANALYSIS
  • 2109 University Ct Clearwater, FL 2
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1962 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 1845 Audubon St Clearwater, FL 1
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1952
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 1337 Weber Dr Clearwater, FL 3
    • 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 1962
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 1309 Woodcrest Ave Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 1958
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
  • 1400 S Hercules Ave Clearwater, FL 5
    • 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 1965
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,039
    • $0.99
    •  
PROPERTY LISTING DETAILS
Karen Hutson
1.727.798.2613
Eckert Realty & Property Mgmt
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103367
Last Updated: 11/03/2020
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