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4325 Chancellor St Ne St Petersburg, FL 33703

3 Beds 2 Baths 1,574 sqft Built 1993

$385,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $76k386k

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

Neighborhood: Shore Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052520

* 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
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

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
$2,370
1$2,3702$2,3953$2,450
$2,450
RENT COMPS ANALYSIS
  • 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
Gavan Benson
1.727.580.0477
Smith & Associates Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110152
Last Updated: 01/19/2021
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