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

3088 138th Pl Largo, FL 33771

3 Beds 2 Baths 1,344 sqft Built 1986

$269,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $200.15
  • 8 Days on Market
  • MLS # : W7830618
  • Updated Date : 02/13/2021 at 07:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Charming 3 bedroom, 2 bathroom single story home in Largo. Entering this home, you are welcomed into a foyer that immediately opens to a large living room complete with high ceilings, and a large double sliding door that leads outside. Overlooking the living room, the spacious kitchen features wood cabinets, stainless steel appliances, tray ceiling, and a huge breakfast nook. In the rear of the home you have the primary bedroom with laminate floors, a walk-in closet with built in shelves, and an en suite bathroom with an oversized vanity and tile walk-in shower. This home is complete with 2 additional bedrooms and a guest bathroom. Outside, you can relax under the covered patio and enjoy the Florida weather. Located in the Paradise Island area of Largo, this home is convenient to shops, restaurants, and major roads making for an easy commute to St. Pete, Clearwater, and Tampa.

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: 33771

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k238k

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

Zip Code: 33771

ZipNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6911590

* 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
Southern Oak Elementary School Primary Regular 668 53 7
Largo Middle School Middle Regular 733 44 3
Largo High School High Magnet 1,677 86 6

Southern Oak Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 53
7
GreatSchools Rating

Largo Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 44
3
GreatSchools Rating

Largo High School

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

$242,100$295,900$269,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$934
Property Tax -$328
Property Insurance -$114
Property Management Fees -$129
CASH FLOW
-$105

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.

$269,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.52%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$10,746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,6954$1,8005$1,949
$1,949
RENT COMPS ANALYSIS
  • 3088 138th Pl Largo, FL 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 3177 Whispering Dr S Largo, FL 2
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1984
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.11
    •  
  • 14875 Cromwell Dr Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1984
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
  • 8189 Perth Dr Largo, FL 4
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1988
    property image
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.12
    •  
  • 7326 Norwich Ln Clearwater, FL 5
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1973
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $1.17
    •  
PROPERTY LISTING DETAILS
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830618
Last Updated: 02/13/2021
BESbswy