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2311 Fulton Way Largo, FL 33774

3 Beds 2 Baths 1,245 sqft Built 1979

$254,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $204.74
  • 3 Days on Market
  • MLS # : T3279082
  • Updated Date : 12/05/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,245 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage

Listing Agent's Description

Vacant! Incredible updated home! Large CORNER lot on a Cul-de-sac! Light and bright throughout. NEW HVAC. Fresh exterior and interior paint. Updated fans and fixtures. NEW KITCHEN with new granite countertops and new 3-piece stainless steel appliance package. New luxury vinyl plank flooring in the living areas and new carpet in the bedrooms. Solar panels to cut down on energy costs. Don't miss this one! It will go quick! Good schools! Not in a flood zone but Super close to Indian Rocks beach! Conveniently located near the Southwest Rec Center, Florida Botanical Gardens, Ridgecrest Park, Largo Golf course, and much more!!

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

Zip Code: 33774

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k243k

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

Zip Code: 33774

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8611854

* 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
Ridgecrest Elementary School Primary Magnet 790 52 6
Seminole Middle School Middle Regular 1,159 68 5
Largo High School High Magnet 1,677 86 6

Ridgecrest Elementary School

  • Education Level: Primary
  • # of students: 790
  • # of teachers: 52
6
GreatSchools Rating

Seminole Middle School

  • Education Level: Middle
  • # of students: 1,159
  • # of teachers: 68
5
GreatSchools Rating

Largo High School

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

$229,410$280,390$254,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$940
Property Tax -$310
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
$162

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.

$254,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.65%

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$40,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6003$1,6004$1,6505$1,825
$1,825
RENT COMPS ANALYSIS
  • 2311 Fulton Way Largo, FL 4
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.33
    •  
  • 3290 Hillsdale Ave Largo, FL 1
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1961
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.36
    •  
  • 12816 128th Ave Largo, FL 2
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1979
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.20
    •  
  • 2500 Fulton St Sw Largo, FL 3
    • 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,096 Sqft ∙ Built 1979
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.46
    •  
  • 2132 Fulton Way Largo, FL 5
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1979
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.50
    •  
PROPERTY LISTING DETAILS
Rob Jones
1.813.534.6326
Offerpad Brokerage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279082
Last Updated: 12/05/2020
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