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6426 109th Ave N Pinellas Park, FL 33782

3 Beds 2 Baths 1,625 sqft Built 1981

$315,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $193.85
  • 2 Days on Market
  • MLS # : O5915791
  • Updated Date : 01/10/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,625 sqft
  • Baths : 2 full
Listing Agent

Propertio

Listing Agent's Description

3 bedrooms, 2 full baths, large office or 4th bedroom, 2 car garage New interior Carpet and outdoor carpeting in Patio and Front Porch Freshly painted interior and exterior including the garage New stainless steel Refrigerator & smooth top electric range Renovated bathrooms with new floor and wall tile in shower Fans in bedrooms, Great Room & Patio- 2 have remote controls New Water Heater Decora electrical outlets and switches New kitchen sink, faucet and garbage disposal New LED lighting and fixtures Reclaimed water sprinkler system Very Large Oak shade tree in front yard Curtains on all windows Close/Easy access to North/South & East/West corridors & Tampa Hurricane Evacuation zone "C"; Home is much higher than Street Level.

SEE MORE

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: 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
Cross Bayou Elementary School Primary Regular 492 45 4
Fitzgerald Middle School Middle Magnet 1,137 68 4
Pinellas Park High School High Magnet 2,173 109 4

Cross Bayou Elementary School

  • Education Level: Primary
  • # of students: 492
  • # of teachers: 45
4
GreatSchools Rating

Fitzgerald Middle School

  • Education Level: Middle
  • # of students: 1,137
  • # of teachers: 68
4
GreatSchools Rating

Pinellas Park High School

  • Education Level: High
  • # of students: 2,173
  • # of teachers: 109
4
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,094
Property Tax -$401
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
$86

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.

$315,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.58%

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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$29,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,836

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,6003$1,7454$1,7755$1,840
$1,840
RENT COMPS ANALYSIS
  • 6426 109th Ave N Pinellas Park, FL 5
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.13
    •  
  • 6135 99th Ter N Pinellas Park, FL 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1972
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.10
    •  
  • 6257 107th Ave N #n Pinellas Park, FL 2
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1979
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 9923 57th Way N Pinellas Park, FL 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1985
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.16
    •  
  • 11840 69th Way Largo, FL 4
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1979
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.21
    •  
PROPERTY LISTING DETAILS
Alin Zdroba
1.954.418.2154
Propertio
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5915791
Last Updated: 01/10/2021
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