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426 62nd Ave Ne St Petersburg, FL 33702

3 Beds 2 Baths 1,508 sqft Built 1967

$299,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $198.28
  • 2 Days on Market
  • MLS # : T3289094
  • Updated Date : 02/07/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

Evergreen Properties Usa, Inc.

Listing Agent's Description

Totally remodeled home in St Petersburg for sale. This property has it all. Bonus Room in the back with screen in porch. 2 bathrooms, and a beautiful kitchen. Minutes from Mango Golf course. Minutes to I -275 and major roads, Must see to appreciate.

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: Edgemoor

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $71k238k

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

Neighborhood: Edgemoor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8081590

* 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
Shore Acres Elementary School Primary Regular 708 51 4
Meadowlawn Middle School Middle Regular 1,241 72 2
Northeast High School High Regular 1,872 91 5

Shore Acres Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 51
4
GreatSchools Rating

Meadowlawn Middle School

  • Education Level: Middle
  • # of students: 1,241
  • # of teachers: 72
2
GreatSchools Rating

Northeast High School

  • Education Level: High
  • # of students: 1,872
  • # of teachers: 91
5
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,039
Property Tax -$381
Property Insurance -$124
Property Management Fees -$129
CASH FLOW
$118

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.

$299,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,975

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7904$1,8155$2,110
$2,110
RENT COMPS ANALYSIS
  • 426 62nd Ave Ne St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.19
    •  
  • 5560 Bay St Ne St Petersburg, FL 1
    • 3 beds 1 baths ∙ 1,215 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,215 Sqft ∙ Built 1960
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.32
    •  
  • 433 Hampton Ave Ne St Petersburg, FL 2
    • 4 beds 2 baths ∙ 1,396 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,396 Sqft ∙ Built 1962
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.21
    •  
  • 809 60th Ave Ne St Petersburg, FL 4
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1959
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $1.31
    •  
  • 633 58th Ave Ne St Petersburg, FL 5
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1970
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.40
    •  
PROPERTY LISTING DETAILS
Fook Snipper
1.407.248.8089
Evergreen Properties Usa, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289094
Last Updated: 02/07/2021
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