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5225 87th Ave N Pinellas Park, FL 33782

4 Beds 2 Baths 1,575 sqft Built 1969

$259,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $165.02
  • 3 Days on Market
  • MLS # : U8106628
  • Updated Date : 12/05/2020 at 11:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,575 sqft
  • Baths : 2 full
Listing Agent

Proluxe Properties

Listing Agent's Description

HONEY STOP THE CAR!!! This spacious and very well cared for home in the heart of Pinellas Park is MOVE IN READY! Offering a TRUE four bedroom, two bath split floor plan. The kitchen is updated with TONS of cabinetry and full pantry. The dining room is located just off of the kitchen and overlooks the living room. The Master bedroom is just off of the living room and has a newly remodeled bathroom with barn door. Three additional bedrooms are good in size and guest bath has also been recently updated. Inside laundry room with plenty of shelving. Not to mention a BONUS ROOM that is VERY ideal for an office, gym, playroom, etc. The fenced in backyard offers a large shed for additional storage, access to alley way and room for a pool. Walking distance to Skyview Elementary and only minutes to Shopping, Restaurants, Downtown St Pete, Tampa, and our AMAZING and AWARD Winning Beaches. Make this your Home Sweet Home TODAY!!!

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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

Zip Code: 33782

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Zip Code: 33782

ZipNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7391590

* 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
Skyview Elementary School Primary Regular 672 47 5
Pinellas Park Middle School Middle Regular 1,090 69 3
Dixie M. Hollins High School High Regular 1,826 104 4

Skyview Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 47
5
GreatSchools Rating

Pinellas Park Middle School

  • Education Level: Middle
  • # of students: 1,090
  • # of teachers: 69
3
GreatSchools Rating

Dixie M. Hollins High School

  • Education Level: High
  • # of students: 1,826
  • # of teachers: 104
4
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$959
Property Tax -$351
Property Insurance -$128
Property Management Fees -$129
CASH FLOW
$133

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.

$259,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.65%

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$35,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,6004$1,6655$1,700
$1,700
RENT COMPS ANALYSIS
  • 5225 87th Ave N Pinellas Park, FL 5
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 4701 83rd Ter N Pinellas Park, FL 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1957
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.06
    •  
  • 5621 90th Ave N Pinellas Park, FL 2
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1961
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.24
    •  
  • 5551 93rd Ave N Pinellas Park, FL 3
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1961
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
  • 5770 93rd Ave N Pinellas Park, FL 4
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1961
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $1.17
    •  
PROPERTY LISTING DETAILS
Somer Tangorra
1.813.789.5754
Proluxe Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106628
Last Updated: 12/05/2020
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