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6911 N Clearview Ave Tampa, FL 33614

3 Beds 2 Baths 1,416 sqft Built 1978

$249,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $176.48
  • 5 Days on Market
  • MLS # : W7828026
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,416 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Charming 3 bedroom, 2 bath, single story home in the Egypt Lakes area. Upon entering this home, you are welcomed into a cozy formal living room with Spanish inspired floor tile. Continuing, you find yourself in the dining room adjacent to the kitchen. The kitchen features granite countertops, solid wood cabinets, and a closet pantry. The large family room boasts a large stone fireplace with built-in shelves and stone holding areas for fire wood. The primary bedroom in the rear of the home features laminate floorings, ceiling fan, private exterior access, and an en suite bathroom with walk-in shower. The home also has two additional bedrooms and a shared full bath. Outside, you have a large fenced backyard with large shade trees. Centrally located in the Egypt Lake-Leto area of Tampa, you are close to major highways, shopping, and dining options.

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

Neighborhood: Egypt Lake - Leto

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Neighborhood: Egypt Lake - Leto

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7391613

* 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
Egypt Lake Elementary School Primary Regular 549 42 5
Memorial Middle School Middle Regular 654 50 2
Hillsborough High School High Magnet 1,947 107 4

Egypt Lake Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 42
5
GreatSchools Rating

Memorial Middle School

  • Education Level: Middle
  • # of students: 654
  • # of teachers: 50
2
GreatSchools Rating

Hillsborough High School

  • Education Level: High
  • # of students: 1,947
  • # of teachers: 107
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$922
Property Tax -$307
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
-$17

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.

$249,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 8.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,487

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,4104$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 6911 N Clearview Ave Tampa, FL 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.00
    •  
  • 3221 W Clifton St Tampa, FL 1
    • 3 beds 1 baths ∙ 1,144 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,144 Sqft ∙ Built 1972
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.09
    •  
  • 6808 N Himes Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1964
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 7001 N Lois Ave Tampa, FL 4
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1984
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
  • 7809 N Woodlynne Ave Tampa, FL 5
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1963
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828026
Last Updated: 10/31/2020
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