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2532 68th Ave N St Petersburg, FL 33702

3 Beds 2 Baths 1,200 sqft Built 1963

$239,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $199.17
  • 5 Days on Market
  • MLS # : T3275478
  • Updated Date : 11/11/2020 at 18:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 1 full , 1 half
Listing Agent

Bex Realty, Llc

Listing Agent's Description

Live in one of the most tranquil settings imaginable next to Sawgrass Lake Park and on a dead end street. This 3 bedroom 1 1/2 bath block home has been meticulously cared for and updated. There is tile flooring throughout the entire split floor plan home (laminate in bedrooms 2 & 3). New A/C 2017, New Roof 2019, and the entire exterior was painted in 2019. Enjoy new sliding doors off the bright and sunny kitchen that lead to the spacious newly tiled Florida Room and all it's possibilities. The indoor laundry room with newer washer and dryer is adjacent to the master bedroom and has a convenient door to the outside. Both the back and front yards are spacious enough for gardening, grilling, and best of all are quiet and serene - making it a perfect environment for RELAXING. Fairview Estates neighborhood is convenient to downtown St Pete and all major highways and airports. Closest of all is Sawgrass Lake Park and it's 370 acres of wildlife, boardwalks, and paths. The National Audubon Society named the park one of the premier birding sights in Florida.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Fairview Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $76k238k

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

Neighborhood: Fairview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7391590

* 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
Lynch Elementary School Primary Regular 677 53 4
Meadowlawn Middle School Middle Regular 1,241 72 2
Northeast High School High Regular 1,872 91 5

Lynch Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 53
4
GreatSchools Rating

Meadowlawn Middle School

  • Education Level: Middle
  • # of students: 1,241
  • # of teachers: 72
2
GreatSchools Rating

Northeast High School

  • Education Level: High
  • # of students: 1,872
  • # of teachers: 91
5
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$882
Property Tax -$357
Property Insurance -$106
Property Management Fees -$80
CASH FLOW
$176

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.

$239,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.67%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$39,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3753$1,5904$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2532 68th Ave N St Petersburg, FL 5
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.33
    •  
  • 2688 62nd Ave N St Petersburg, FL 1
    • 3 beds 1 baths ∙ 964 Sqft ∙ Built 1979 3 beds 1 baths ∙ 964 Sqft ∙ Built 1979
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.34
    •  
  • 3045 56th Ave N St Petersburg, FL 2
    • 3 beds 1 baths ∙ 1,024 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,024 Sqft ∙ Built 1948
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.34
    •  
  • 3054 57th Ave N St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1945 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1945
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.33
    •  
  • 6700 17th Ln N St Petersburg, FL 4
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1960
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.33
    •  
PROPERTY LISTING DETAILS
Missie Moore
1.813.695.7277
Bex Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275478
Last Updated: 11/11/2020
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