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3552 50th Ave N St Petersburg, FL 33714

3 Beds 1 Baths 1,002 sqft Built 1971

$200,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $199.60
  • 6 Days on Market
  • MLS # : U8108423
  • Updated Date : 01/05/2021 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,002 sqft
  • Baths : 1 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Welcome to this cute true 3 bedroom home in the heart of St. Petersburg. A convenient location to shopping, the Interstate and Downtown. Carefree tile flooring throughout, a corner lot, a fully fenced in yard and no flood insurance required! An inside laundry room and great storage make this home a must see! Come view today before it is too late.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lellman Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Lellman Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6021590

* 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
Lealman Avenue Elementary School Primary Regular 508 42 3
Tyrone Middle School Middle Regular 804 56 3
Dixie M. Hollins High School High Regular 1,826 104 4

Lealman Avenue Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 42
3
GreatSchools Rating

Tyrone Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 56
3
GreatSchools Rating

Dixie M. Hollins High School

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

$180,000$220,000$200,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$695
Property Tax -$298
Property Insurance -$94
Property Management Fees -$129
CASH FLOW
$14

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.

$200,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$14,242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,240

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3503$1,3954$1,4005$1,600
$1,600
RENT COMPS ANALYSIS
  • 3552 50th Ave N St Petersburg, FL 1
    • 3 beds 1 baths ∙ 1,002 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,002 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.23
    •  
  • 3109 54th Ave N St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1953
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.23
    •  
  • 2540 47th Ave N St Petersburg, FL 3
    • 3 beds 1 baths ∙ 1,103 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,103 Sqft ∙ Built 1951
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.26
    •  
  • 3641 53rd Ave N St Petersburg, FL 4
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1971
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.25
    •  
  • 3530 24th Ave N St Petersburg, FL 5
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1959
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.21
    •  
PROPERTY LISTING DETAILS
Melody Hunter
1.727.420.3234
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108423
Last Updated: 01/05/2021
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