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585 Casler Ave Clearwater, FL 33755

5 Beds 3 Baths 1,930 sqft Built 1969

INVESTimate

$369,000

List Price

$2,060

$1,854 - $2,266

Rent Est.

$396,343  ( +7.41%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1969
  • Price/Sqft : $191.19
  • 6 Days on Market
  • MLS # : T3260665
  • Updated Date : 08/24/2020 at 12:04
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,930 sqft
  • Baths : 3 full
Listing Agent

Magnate Realty, Llc

Listing Agent's Description

Beautifully Updated Executive style home in established Clearwater neighborhood! Large open split floor plan. This 5-Bedroom 3-Bath Home w/office can serve as additional bedroom! This home is move in ready and spacious enough for a large family! Features all New Kitchen w/Granite and marble backsplash, All new upgraded GE appliances, Baths, plumbing fixtures, ceiling fans throughout, interior doors, Fresh paint and new landscape. Roof replaced in 2019, HVAC-2018, Instant on Generator-2017, Gas powered Tankless water Heater-2018. 5-10 minutes to restaurants, shops and beautiful Clearwater beach!

SEE MORE

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

Zip Code: 33755

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Zip Code: 33755

ZipNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391649

* 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
Skycrest Elementary School Primary Regular 696 58 3
Dunedin Highland Middle School Middle Magnet 1,060 60 4
Clearwater High School High Regular 1,870 89 4

Skycrest Elementary School

  • Education Level: Primary
  • # of students: 696
  • # of teachers: 58
3
GreatSchools Rating

Dunedin Highland Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 60
4
GreatSchools Rating

Clearwater High School

  • Education Level: High
  • # of students: 1,870
  • # of teachers: 89
4
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,361
Property Tax -$476
Property Insurance -$149
Property Management Fees -$80
CASH FLOW
-$6

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.

$369,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 7.41%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$28,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,084

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,060
$2,060
RENT COMPS ANALYSIS
  • 585 Casler Ave Clearwater, 2
    • 6 beds 3 baths ∙ 1,930 Sqft ∙ Built 1969 6 beds 3 baths ∙ 1,930 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.07
    •  
  • 1339 S Hillcrest Ave Clearwater, 1
    • 5 beds 3 baths ∙ 1,739 Sqft ∙ Built 1961 5 beds 3 baths ∙ 1,739 Sqft ∙ Built 1961
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.08
    •  
PROPERTY LISTING DETAILS
Chrisy Tellis
1.727.424.6499
Magnate Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260665
Last Updated: 08/24/2020
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