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569 Corvette Dr Largo, FL 33771

3 Beds 2 Baths 1,912 sqft Built 2016

$335,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $175.21
  • 3 Days on Market
  • MLS # : T3283893
  • Updated Date : 01/09/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,912 sqft
  • Baths : 2 full
Listing Agent

Re/max Realty Unlimited

Listing Agent's Description

TALK ABOUT MOVE-IN READY! This open floor plan, FOUR-YEAR-OLD HOME with 3 bedrooms and 2 bathrooms features all of the UPGRADES one can imagine! Upon arriving to this quaint residential neighborhood, the perfectly designed front double doors will welcome you into your formal living and dining room combination. Stylish and durable wood-look tile is featured throughout the main living areas. The stunning kitchen boasts stainless steel appliances, granite countertops, dimmable recessed lighting, designer pendants, and staggered cabinets with SOFT CLOSE DOORS AND DRAWERS. The Master bedroom holds TWO spacious walk-in closets and SPA-LIKE Master Bath with a separate shower and garden tub. Your new family room comes complete with a designer accent wall that can easily be removed should you prefer. Split lay-out with two ample-sized guestrooms and guest bath featuring its own linen closet. Your tranquil backyard oasis comes complete with upgraded privacy fencing, pavers, and a relaxing pergola! This home even gives you PEACE OF MIND with a 10-CAMERA YARD SECURITY SYSTEM, and HURRICANE PROOF WINDOWS! Enjoy ETHERNET THROUGHOUT THE HOME and PEST CONTROL is included through February. Close to restaurants, shopping, and entertainment. NO HOA; NO CDD; AND NO FLOOD INSURANCE REQUIRED. IT DOES NOT GET MUCH BETTER THAN THIS! WELCOME HOME!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 33771

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k238k

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

Zip Code: 33771

ZipNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6911590

* 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
Ponce De Leon Elementary School Primary Regular 556 49 1
Largo Middle School Middle Regular 733 44 3
Largo High School High Magnet 1,677 86 6

Ponce De Leon Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 49
1
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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,164
Property Tax -$453
Property Insurance -$148
Property Management Fees -$129
CASH FLOW
$37

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.

$335,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$27,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,409

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$2,5003$2,500
$2,500
RENT COMPS ANALYSIS
  • 569 Corvette Dr Largo, FL 1
    • 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.01
    •  
  • 1320 Alexander Way Clearwater, FL 2
    • 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
    •  
  • 1231 Alexander Way Clearwater, FL 3
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1999
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.17
    •  
PROPERTY LISTING DETAILS
Kimberly Evans
1.813.466.8554
Re/max Realty Unlimited
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3283893
Last Updated: 01/09/2021
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