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2238 Cypress Point Dr E Clearwater, FL 33763

3 Beds 2 Baths 1,492 sqft Built 1987

$299,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $200.40
  • 3 Days on Market
  • MLS # : T3294040
  • Updated Date : 03/06/2021 at 23:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,492 sqft
  • Baths : 2 full
Listing Agent

Chase Real Estate, Inc

Listing Agent's Description

Come see this beautiful and cozy move-in-ready home in the highly sought after Cypress Point neighborhood. Curb appeal abounds with this extremely well maintained 3 bedroom 2 bath home with an oversized 2 car attached garage. As you walk in to your inviting entryway, you notice the large living room that features vaulted ceilings yet never escapes it's cozy feel. Adjoined to the living room, the upgraded kitchen offers ample custom cabinet space and granite counters. The kitchen is just off the living room which allows for an open feel perfect for hosting and entertaining all your friends and family. The dining space also comes equipped with a custom designed space perfect for homeschooling or working from home. The large master bedroom features a walk-in closet and full bath en-suite. The 2nd and 3rd bedrooms are also very spacious and have closets with custom built-ins crafted by hand. The back yard accessed through sliding glass doors from your living room is spacious, horizontal fence, and offers some nice shade for those warm summer days. Immediately next to the home is a walking path that will take you to the Cypress Point Park which offers a beautiful green space, a stream with waterfall, and a designated picnic bench area. This prime location has you positioned in Clearwater just near the edge of Dunedin and allows for easy access to everything Pinellas County has to offer including several City, County and State Parks, Golf Courses, Countryside Mall and Restaurants, Safety Harbor plus you are only 9 miles to world famous Honey Moon Island and Clearwater Beach. Don't miss your shot to call this house your home!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 33763

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Zip Code: 33763

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8781649

* 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
Leila G Davis Elementary School Primary Regular 795 53 5
Safety Harbor Middle School Middle Regular 1,319 75 5
Dunedin High School High Regular 1,517 76 4

Leila G Davis Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 53
5
GreatSchools Rating

Safety Harbor Middle School

  • Education Level: Middle
  • # of students: 1,319
  • # of teachers: 75
5
GreatSchools Rating

Dunedin High School

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

$269,100$328,900$299,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,039
Property Tax -$394
Property Insurance -$123
Property Management Fees -$129
CASH FLOW
-$5

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.

$299,000

PROJECTED PRICE

$1,680

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$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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$20,806

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,775

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7954$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 2238 Cypress Point Dr E Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.13
    •  
  • 2068 Loma Linda Way N Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1973
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.17
    •  
  • 2017 Rountree Ct Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1995
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.17
    •  
  • 2035 Southpointe Dr Dunedin, FL 4
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1974
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.20
    •  
  • 2242 Willow Tree Trl Clearwater, FL 5
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 1977
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
PROPERTY LISTING DETAILS
Chase Geaney
1.954.536.9483
Chase Real Estate, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3294040
Last Updated: 03/06/2021
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