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3101 70th Ln N St Petersburg, FL 33710

3 Beds 2 Baths 1,224 sqft Built 1963

$284,999

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $232.84
  • 7 Days on Market
  • MLS # : U8108346
  • Updated Date : 12/29/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,224 sqft
  • Baths : 1 full , 1 half
Listing Agent

Namaste Realty Llc

Listing Agent's Description

If you are looking for a little bit of serenity in the city this is the home for you! Enjoy your morning coffee on the large screened patio over looking the peaceful quite lake or cuddle up by the fire and relax! This three bedroom one and half bath home is just waiting for its new family. It is set in a wonderful neighborhood that is high and dry and does not require flood insurance! This home features an updated kitchen, newer hurricane proof windows and doors, laminated flooring, sprinkler system and water softener. It is located within walking distance to shops and restaurants and just a quick drive to our famous white sandy beaches, Tampa and Clearwater airports and downtown St Pete.

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

Neighborhood: Jungle Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k238k

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

Neighborhood: Jungle Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7101605

* 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
Seventy-fourth St. Elementary School Primary Regular 577 51 3
Azalea Middle School Middle Regular 992 61 2
Dixie M. Hollins High School High Regular 1,826 104 4

Seventy-fourth St. Elementary School

  • Education Level: Primary
  • # of students: 577
  • # of teachers: 51
3
GreatSchools Rating

Azalea Middle School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 61
2
GreatSchools Rating

Dixie M. Hollins High School

  • Education Level: High
  • # of students: 1,826
  • # of teachers: 104
4
GreatSchools Rating
 

$256,499$313,499$284,999

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,052
Property Tax -$363
Property Insurance -$107
Property Management Fees -$129
CASH FLOW
-$101

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.

$284,999

PROJECTED PRICE

$1,550

PROJECTED RENT

0.54%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,749
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,398

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4004$1,5505$1,695
$1,695
RENT COMPS ANALYSIS
  • 3101 70th Ln N St Petersburg, FL 4
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.27
    •  
  • 6484 44th Ave N Kenneth City, FL 1
    • 4 beds 2 baths ∙ 1,211 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,211 Sqft ∙ Built 1959
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.11
    •  
  • 7401 36th Ave N St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1958
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.18
    •  
  • 7083 40th Ter N St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1964
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.16
    •  
  • 6682 34th Ave N St Petersburg, FL 5
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1978
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jennifer Lumsden
1.727.692.3229
Namaste Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108346
Last Updated: 12/29/2020
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