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501 13th Ave Nw Largo, FL 33770

3 Beds 3 Baths 1,553 sqft Built 2004

$250,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $160.98
  • 8 Days on Market
  • MLS # : U8106040
  • Updated Date : 12/04/2020 at 18:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,553 sqft
  • Baths : 2 full , 1 half
Listing Agent

Renaissance Real Estate

Listing Agent's Description

Your Tropical Paradise Awaits!! Two story home built in 2004 features 3 bedrooms and 2.5 baths and a 1 car attached garage. Stairway to bedrooms on second story overlooks living room area with lots of natural light through high rise ceilings and windows. Beautifully landscaped grounds with Florida friendly native plants and trees. Xeriscape, low maintenance yard. Your private oasis back yard is perfect for entertaining or relaxing. Enjoy the low traffic and extra parking opportunities of a cul-de-sac. Easy access to main roads and short distance from businesses and beaches. New business developments a short stroll away offer family friendly entertainment, multiple shopping opportunities and various dining options. Not in a flood zone! Ready to close! FHA and VA welcome. Don't miss this opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Kakusha

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Kakusha

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6471590

* 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
Mildred Helms Elementary School Primary Regular 583 45 4
Largo Middle School Middle Regular 733 44 3
Largo High School High Magnet 1,677 86 6

Mildred Helms Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 45
4
GreatSchools Rating

Largo Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 44
3
GreatSchools Rating

Largo High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 86
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$922
Property Tax -$305
Property Insurance -$127
Property Management Fees -$129
CASH FLOW
$468

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.

$250,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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$25k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

14.5

YEARS SAVED

$68,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,9503$1,9504$2,500
$2,500
RENT COMPS ANALYSIS
  • 501 13th Ave Nw Largo, FL 3
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.26
    •  
  • 1333 S Madison Ave Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 2006
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.22
    •  
  • 1650 S Betty Ln Clearwater, FL 2
    • 4 beds 3 baths ∙ 1,568 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,568 Sqft ∙ Built 1987
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.24
    •  
  • 1320 Alexander Way Clearwater, FL 4
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1998
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.35
    •  
PROPERTY LISTING DETAILS
Angyl Jones
1.727.504.9352
Renaissance Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106040
Last Updated: 12/04/2020
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