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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $175.24
- 2 Days on Market
- MLS # : T3281235
- Updated Date : 12/19/2020 at 16:01
CONSTRUCTION
- Beds : 3
- Floor Size : 1,797 sqft
- Baths : 2 full
Listing Agent
Home Town Realty, Inc.
Listing Agent's Description
Merry Christmas and Happy New Year. This is it, location, price, square footage and upgrades. Make this your best holiday's gift. Attractive open floor plan together with vaulted ceiling design on this *Remodeled* 3 bedrooms, 2 baths, plus enclosed lanai (added 184 additional sqft make it a 4th bedroom) in the heart of Pinellas County. Impressive design and features show it looks. An inviting kitchen with polished porcelain tile floors, shiny granite countertops, new sinks, tall facet, and stainless steel appliances. Home features all new sinks, all new facets, shiny porcelain tile floors, tile'd shower. Master bed is 12 x 15, with walkway, closet, walk-in closet, built-in shelving. All great size rooms with closets and built-in shelving. 2016 roof, oversized lot for your outdoor/gardening, yard already got tropical fruit trees for you to enjoy (sugar apples, jackfruit, mangoes). A wells system installed for irrigation. Rainforest Community is off Ulmerton Rd and 58th ST N, a very convenient location, minutes to Clearwater Beach, Tampa and St. Pete. Home improvement stores, grocery stores, restaurants and other amenities are nearby. New homes in the area are going above $350K. You won't find another one like this, this is truly a limited opportunity, schedule your showing today.
SEE MORE
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Rainforest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rainforest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,080 |
| EXPENSES | Loan Payment | -$1,162 |
| Property Tax | -$385 | |
| Property Insurance | -$141 | |
| HOA | -$11 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$253
|
||
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.
$314,900
PROJECTED PRICE
$2,080
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$89,199
LOAN DETAILS
$1,162
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $78,725 |
| Loan Amount | $236,175 |
10.42
YEARS SAVED
$55,731
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,080
LIST RENT -
$1.16
LIST RENT PER SQFT
-
$2,165
COMP ESTIMATED VALUE -
$1.21
COMP AVG. RENT PER SQFT
Comps Range
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5862 Toucan Pl Clearwater, FL 3
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12732 Pineforest Way E Largo, FL 1
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LEASED 01/10/20- Rent
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- $1,700
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2997 164th Ave N Clearwater, FL 2
- 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 1974
LEASED 11/22/19- Rent
- Rent Per SQFT
- $1,899
- $1.07
-
5874 Patrick Ct Clearwater, FL 4
- 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1999
LEASED 03/15/20- Rent
- Rent Per SQFT
- $2,100
- $1.36
-
1957 Promenade Way Clearwater, FL 5
- 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 1990
LEASED 01/22/20- Rent
- Rent Per SQFT
- $2,500
- $1.28
PROPERTY LISTING DETAILS
1.941.877.8677
Home Town Realty, Inc.
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: T3281235
Last Updated: 12/19/2020
