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5005 Bridgeport Dr Safety Harbor, FL 34695

3 Beds 2 Baths 1,871 sqft Built 1985

$370,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $197.76
  • 2 Days on Market
  • MLS # : U8106647
  • Updated Date : 12/06/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,871 sqft
  • Baths : 2 full
Listing Agent

Re/max Action First Of Florida

Listing Agent's Description

Wonderful single family home in the heart of Safety Harbor! Nestled on just under 1/4 acre of property, this treasure features 3 large bedrooms, 2 full baths, soaring ceilings with spacious formal and informal areas. The dining room and breakfast nook bookend the upgraded kitchen with granite counters and stainless appliances. A wood burning fireplace is the centerpiece of the oversized family room. A large Florida room leads out to the huge fenced backyard. Updates include a newer A/C, Roof (2017), Fence (2019) and water heater (2020). Located in a great neighborhood with convenient access to shopping, schools and a short drive from Philippe Park and downtown Safety Harbor. This could be yours!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bridgeport

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k459k

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

Neighborhood: Bridgeport

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9052559

* 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
Leila G Davis Elementary School Primary Regular 795 53 5
Safety Harbor Middle School Middle Regular 1,319 75 5
Countryside High School High Regular 2,175 106 5

Leila G Davis Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 53
5
GreatSchools Rating

Safety Harbor Middle School

  • Education Level: Middle
  • # of students: 1,319
  • # of teachers: 75
5
GreatSchools Rating

Countryside High School

  • Education Level: High
  • # of students: 2,175
  • # of teachers: 106
5
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,365
Property Tax -$429
Property Insurance -$145
HOA -$8
Property Management Fees -$129
CASH FLOW
$63

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.

$370,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$41,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,142

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,899
1$1,8992$2,0003$2,1004$2,1405$2,295
$2,295
RENT COMPS ANALYSIS
  • 5005 Bridgeport Dr Safety Harbor, FL 4
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.14
    •  
  • 222 N Bay Hills Blvd Safety Harbor, FL 1
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 1977
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $1.04
    •  
  • 2100 Widgeon Ave Safety Harbor, FL 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1980
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
  • 104 Hillcrest Dr Safety Harbor, FL 3
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1980
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.16
    •  
  • 212 Hillcrest Dr Safety Harbor, FL 5
    • 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1980
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.17
    •  
PROPERTY LISTING DETAILS
Paul Klink
1.813.629.7653
Re/max Action First Of Florida
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106647
Last Updated: 12/06/2020
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