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2879 Meadow Oak Dr E Clearwater, FL 33761

4 Beds 3 Baths 2,237 sqft Built 1977

$480,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $214.57
  • 4 Days on Market
  • MLS # : T3278611
  • Updated Date : 12/05/2020 at 16:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,237 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

HONEY STOP THE CAR! Newly Expanded & Renovated this 4/3/2 beauty boasts stylish modern décor & updates at every turn. Major improvements were completed from 2017-2019 to create a modern open floor plan with clean lines and plenty of storage. Home Warranty Included! This well appointed split floor plan was expanded to 4 beds, 3 full baths and includes: New Windows, 2019 Roof, Wood plank tile Interior Flooring, Fixtures including recesses lighting, 50 gal Hybrid Water Heater, Filtration, & Softener Systems. Spacious Chef’s Kitchen with Dual Ranges, georgeous Quartz counters, an abundance of New Cabinets, & loads of storage in the huge Walk-in Pantry. Newer dual pane Windows, dual HVACs, & added Insulation keep this home energy efficient all year long. No backyard neighbors here! Enjoy the nicely shaded Private Backyard with room to roam or add a POOL! Centrally located to easily explore top rated golf courses, beaches, restaurants, shopping, parks, professional sports, and much more just minutes away! Too many improvements and upgrades to mention them all here, so contact us or your agent to receive your copy of the complete list! View our full video walk-through tour here: https://wi.st/3g3QHf7

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 33761

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $75k343k

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

Zip Code: 33761

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9052181

* 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
Countryside High School High Regular 2,175 106 5

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

Countryside High School

  • Education Level: High
  • # of students: 2,175
  • # of teachers: 106
5
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,771
Property Tax -$620
Property Insurance -$166
Property Management Fees -$129
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.

$480,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$25,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,724

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,5103$2,7954$2,8955$2,999
$2,999
RENT COMPS ANALYSIS
  • 2879 Meadow Oak Dr E Clearwater, FL 2
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.12
    •  
  • 212 Hillcrest Dr Safety Harbor, FL 1
    • 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1980
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.17
    •  
  • 3501 Landmark Trl Palm Harbor, FL 3
    • 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1985
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.19
    •  
  • 2911 Mill Stream Ct Clearwater, FL 4
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 1976
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.28
    •  
  • 2677 Clubhouse Dr N Clearwater, FL 5
    • 4 beds 2 baths ∙ 2,430 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,430 Sqft ∙ Built 1977
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $1.23
    •  
PROPERTY LISTING DETAILS
Angie Blackman
1.813.264.7754
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3278611
Last Updated: 12/05/2020
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