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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $244.60
- 7 Days on Market
- MLS # : U8110152
- Updated Date : 01/19/2021 at 11:22
CONSTRUCTION
- Beds : 3
- Floor Size : 1,574 sqft
- Baths : 2 full
Listing Agent
Smith & Associates Real Estate
Listing Agent's Description
This is a beautiful 3BR/ 2BA open floor plan corner lot near two of the top private schools in St. Petersburg and only a short drive to downtown, this home is situated on a large corner lot with a fenced backyard. The garage is oversized with a 12 Ft. ceiling, and there is a large driveway with room for multiple cars or even a boat on a trailer. Located between Snell Isle and Venetian Isle, you'll live in one of the most desirable neighborhoods in St. Petersburg. You enter the front door into a spacious foyer with vaulted ceilings and tile floor. From the foyer you can view the formal living room and dining room. The kitchen opens to the family room which is perfect for entertaining family and guests. The master suite has an en suite bathroom with a step-in shower and a large reach-in closet. Two more bedrooms, both with large closets, and a large inside laundry make this a perfect home for a young family. This home is being offered with the option of keeping some of the furnishings. Make an appointment to see this home today! All room sizes should be confirmed by buyer. Observing all COVID precautions including wearing masks viewing the home.
SEE MORE
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Shore Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Shore Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,370 |
| EXPENSES | Loan Payment | -$1,337 |
| Property Tax | -$490 | |
| Property Insurance | -$128 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$286
|
||
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.
$385,000
PROJECTED PRICE
$2,370
PROJECTED RENT
0.62%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.27% |
| Appreciation Year (1-5) | 3.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.26% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$107,775
LOAN DETAILS
$1,337
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $96,250 |
| Loan Amount | $288,750 |
10.25
YEARS SAVED
$57,062
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,370
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$2,385
COMP ESTIMATED VALUE -
$1.52
COMP AVG. RENT PER SQFT
Comps Range
-
4325 Chancellor St Ne St Petersburg, FL 1
- 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1993
- Rent
- Rent Per SQFT
- $2,370
- $1.51
-
525 Moreno Cir Ne St Petersburg, FL 2
- 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1985
LEASED 09/02/20- Rent
- Rent Per SQFT
- $2,395
- $1.51
-
4661 Chancellor Cir Ne St Petersburg, FL 3
- 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 1987
LEASED 05/15/20- Rent
- Rent Per SQFT
- $2,450
- $1.52
PROPERTY LISTING DETAILS
1.727.580.0477
Smith & Associates Real Estate
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: U8110152
Last Updated: 01/19/2021
