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2650 60th Ave N St Petersburg, FL 33714

3 Beds 2 Baths 1,408 sqft Built 2005

$289,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $205.26
  • 5 Days on Market
  • MLS # : U8110687
  • Updated Date : 01/21/2021 at 15:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,408 sqft
  • Baths : 2 full
Listing Agent

Paramount Realty & Associates

Listing Agent's Description

LOCATION ! LOCATION! HOUSE BUILT 2005. READY TO MOVE YOU IN. LITE-BRITE AND OPEN FLOOR PLAN. 2 YRS OLD A/C, NEW KITCHEN WITH GRANITE COUNTER, ALL NEW APPLIANCES. NEW CARPET IN ALL BEDROOMS, CERAMIC TITLE THROUGH OUT. COVER PATIO, LARGE BACK YARD. CONVENIENT AREA.

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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

Zip Code: 33714

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Zip Code: 33714

ZipNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6171590

* 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
Lealman Avenue Elementary School Primary Regular 508 42 3
Meadowlawn Middle School Middle Regular 1,241 72 2
Northeast High School High Regular 1,872 91 5

Lealman Avenue Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 42
3
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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,004
Property Tax -$431
Property Insurance -$118
Property Management Fees -$129
CASH FLOW
$118

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.

$289,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$29,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,8003$2,1004$2,500
$2,500
RENT COMPS ANALYSIS
  • 2650 60th Ave N St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.28
    •  
  • 4801 Haines Rd N St Petersburg, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2004
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.25
    •  
  • 3560 54th Ave N St Petersburg, FL 3
    • 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 2019
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.23
    •  
  • 3222 Prescott St N St Petersburg, FL 4
    • 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2018
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.50
    •  
PROPERTY LISTING DETAILS
Tony Bui
1.813.477.4411
Paramount Realty & Associates
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110687
Last Updated: 01/21/2021
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