Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2897 Catherine Dr Clearwater, FL 33759

3 Beds 2 Baths 1,690 sqft Built 1973

$289,900

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $171.54
  • 2 Days on Market
  • MLS # : U8107399
  • Updated Date : 12/13/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Fantastic home located near Ruth Eckerd Hall,restaurants, parks, St. Pete/Tampa airports and world famous Clearwater Beach and the trails venturing east and west. If you get bored, take a mini trip to Orlando theme parks in aproximately 1 hour, or Sarasota or east coast with Kennedy Space Center or stay around town and head over to Tampa's theme parks, zoo and aquarium.There are many waters to boat, jet ski or kayak within minutes. Maybe you want to just lounge around the house, this home offers spacious bright rooms to enjoy. This one won't last at this price!

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: 33759

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $75k238k

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

Zip Code: 33759

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781787

* 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
Mcmullen-booth Elementary School Primary Regular 729 58 3
Safety Harbor Middle School Middle Regular 1,319 75 5
Countryside High School High Regular 2,175 106 5

Mcmullen-booth Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 58
3
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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,070
Property Tax -$374
Property Insurance -$135
Property Management Fees -$129
CASH FLOW
$73

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.

$289,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$33,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7494$1,7805$1,849
$1,849
RENT COMPS ANALYSIS
  • 2897 Catherine Dr Clearwater, FL 4
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.05
    •  
  • 1108 Hollywood Ave Clearwater, FL 1
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 1972
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 886 Harbor Hill Dr Safety Harbor, FL 2
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1984
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 1201 Hollywood Ave Clearwater, FL 3
    • 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1972
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.19
    •  
  • 2737 Morningside Dr Clearwater, FL 5
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1973
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $1.05
    •  
PROPERTY LISTING DETAILS
Susan Downey
1.727.724.9102
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107399
Last Updated: 12/13/2020
BESbswy