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4583 35th Ter N St Petersburg, FL 33713

3 Beds 2 Baths 1,600 sqft Built 1963

INVESTimate

$299,500

List Price

$1,630

$1,467 - $1,793

Rent Est.

$314,984  ( +5.17%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $187.19
  • 2 Days on Market
  • MLS # : U8095153
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Compass Real Estate And Rental

Listing Agent's Description

LOCATION, LOCATION, LOCATION. Highly sought after BroadAcres 3/2/2 Block Home on slab with terrazzo floors and plaster walls, they don't build them like this anymore!!! This house sits in a nice high and dry neighborhood, flood zone x and has been well cared for by its current owner the last 19 years. As you walk thru the front door to this large open floor plan you will be standing in your living rm, kitchen / dining rm area with newer kitchen cabinets and granite countertops, stainless appliances and a large island in the center for family to gather around. You have two bedrooms and a hall bathroom on the right hand side of the house and one bedroom and bathroom in the back left corner of the home with a large family room behind the kitchen with a door leading outside to your private fenced in yard and patio. With plenty of space for a growing family this home is a must see, come take a look before its gone!!!!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Disston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $72k238k

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

Neighborhood: Disston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6711590

* 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
Westgate Elementary School Primary Regular 613 43 3
Tyrone Middle School Middle Regular 804 56 3
St. Petersburg High School High Magnet 2,195 109 6

Westgate Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 43
3
GreatSchools Rating

Tyrone Middle School

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

St. Petersburg High School

  • Education Level: High
  • # of students: 2,195
  • # of teachers: 109
6
GreatSchools Rating
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,105
Property Tax -$382
Property Insurance -$129
Property Management Fees -$80
CASH FLOW
-$66

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.

$299,500

PROJECTED PRICE

$1,630

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.17%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,4503$1,5494$1,6305$1,850
$1,850
RENT COMPS ANALYSIS
  • 4583 35th Ter N St Petersburg, 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.02
    •  
  • 5001 33rd Ave N St Petersburg, 1
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1955
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.00
    •  
  • 3570 40th Way N St Petersburg, 2
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1979
    LEASED 05/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 3911 42nd Ave N St Petersburg, 3
    • 4 beds 2 baths ∙ 1,501 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,501 Sqft ∙ Built 1973
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.03
    •  
  • 4390 34th Ave N St Petersburg, 5
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1960
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Christopher Smith
1.727.224.4378
Compass Real Estate And Rental
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8095153
Last Updated: 08/26/2020
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