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2275 Glenmoor Rd N Clearwater, FL 33764

4 Beds 3 Baths 1,972 sqft Built 1963

$389,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $197.72
  • 2 Days on Market
  • MLS # : T3292188
  • Updated Date : 03/06/2021 at 20:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,972 sqft
  • Baths : 3 full
Listing Agent

Fine Properties

Listing Agent's Description

Don't PASS UP this WONDERFUL OPPORTUNITY to own an original WELL BUILT Rutenberg Home featuring a large living room with cathedral ceilings and a dining area plus, a split floorplan with 4 bedrooms and 3 full baths. One of the bedrooms has a private bathroom which is perfect for quest or a live in parent. The Community of Morningside and The Meadows have been highly sought after neighborhoods for many years, featuring very charming tree lined streets with sidewalks and nicely paved roads. A definite pride of ownership in this well maintained subdivision. This home features a NEWLY remodeled kitchen with stainless steel appliances, including a gas stove, shaker style cabinets, a large breakfast bar with Corian countertops accented by a beautiful glass tile back splash and all just overlooking the family room. A picture perfect neighborhood to raise a family yet quiet and quaint enough for mature adults. Large privacy fenced yard with plenty of room for a pool. Very large screened lanai. As a BONUS this sought after Community features the gorgeous newly renovated Morningside Rec Center with an indoor gymnasium, a fitness center, basketball, tennis and racquetball courts, picnic area and playground and a large recreational pool. For a nominal Fee a Clearwater Resident can enjoy this spectacular updated Rec Center. This Community is right next to the Morningside Subdivision and Conveniently located to everything. Convenient commute with access from US Hwy 19 on Harn Blvd. or Belcher Road. Just minutes to St Pete Clearwater Airport, about 20 minutes to Tampa International Airport. About 20 minutes to Clearwater Beach and just a couple of miles to Clearwater Mall, Home Depot Lowes and Public are all a just short ride away. Close to both Public and Private Schools. The Meadows is located within walking distance to the newly renovated Morningside Recreational Sports Complex.

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

Neighborhood: Morningside - Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $75k380k

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

Neighborhood: Morningside - Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8782181

* 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
Belcher Elementary School Primary Regular 673 50 4
Oak Grove Middle School Middle Regular 1,071 65 3
Clearwater High School High Regular 1,870 89 4

Belcher Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 50
4
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,354
Property Tax -$503
Property Insurance -$151
HOA -$35
Property Management Fees -$129
CASH FLOW
$37

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.

$389,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.57%

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$20k

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$30,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,021

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$2,0994$2,1995$2,210
$2,210
RENT COMPS ANALYSIS
  • 2275 Glenmoor Rd N Clearwater, FL 5
    • 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,972 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.12
    •  
  • 2259 Harn Blvd Clearwater, FL 1
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1965 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 1965
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 14 Baywood Ave Clearwater, FL 2
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1974
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 1329 Fairfield Dr Clearwater, FL 3
    • 3 beds 2 baths ∙ 2,085 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,085 Sqft ∙ Built 1960
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $1.01
    •  
  • 2170 College Dr Clearwater, FL 4
    • 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 1961
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.17
    •  
PROPERTY LISTING DETAILS
Jennifer Kashtan
1.813.310.7200
Fine Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3292188
Last Updated: 03/06/2021
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