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3405 Camelia Pl Largo, FL 33771

3 Beds 2 Baths 1,922 sqft Built 1962

$300,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $156.09
  • 5 Days on Market
  • MLS # : O5922928
  • Updated Date : 02/11/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,922 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Largo one-story cul-de-sac home offers a patio, and a one-car garage. This home is vacant and cleaned regularly.

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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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,042
Property Tax -$388
Property Insurance -$148
Property Management Fees -$129
CASH FLOW
$393

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.

$300,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.70%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$59,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9493$1,9494$2,1005$2,499
$2,499
RENT COMPS ANALYSIS
  • 3405 Camelia Pl Largo, FL 4
    • 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 3402 Floral Dr Largo, FL 1
    • 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 1959
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
  • 7326 Norwich Ln Clearwater, FL 2
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1973
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $1.17
    •  
  • 15375 Hopedale Ln Clearwater, FL 3
    • 4 beds 4 baths ∙ 1,658 Sqft ∙ Built 1972 4 beds 4 baths ∙ 1,658 Sqft ∙ Built 1972
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $1.18
    •  
  • 2246 Westbury Ave Clearwater, FL 5
    • 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 1978
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.10
    •  
PROPERTY LISTING DETAILS
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5922928
Last Updated: 02/11/2021
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