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7100 6th Ave N St Petersburg, FL 33710

3 Beds 2 Baths 1,215 sqft Built 2002

$315,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $259.26
  • 5 Days on Market
  • MLS # : W7829607
  • Updated Date : 01/07/2021 at 07:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,215 sqft
  • Baths : 2 full
Listing Agent

Re/max Sunset Realty

Listing Agent's Description

Absolutely Gorgeous! This home has 3 bedrooms, 2 baths and 2 car garages. It has many features like ceiling fans, an open floor plan and tile floors. The master room has a built-in closet with its own bathroom. Closets in the rooms are spacious. The kitchen has granite countertops, Stanley steel appliances and plan opens up to the dinette room and living room. The dinette has a sliding that leads to the fenced in backyard. Location is minutes away from shopping centers, restaurants, and hospital

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: Azalea Homes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $76k257k

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

Neighborhood: Azalea Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7161767

* 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
Azalea Elementary School Primary Regular 547 42 4
Azalea Middle School Middle Regular 992 61 2
Boca Ciega High School High Magnet 1,680 92 4

Azalea Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 42
4
GreatSchools Rating

Azalea Middle School

  • Education Level: Middle
  • # of students: 992
  • # of teachers: 61
2
GreatSchools Rating

Boca Ciega High School

  • Education Level: High
  • # of students: 1,680
  • # of teachers: 92
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,094
Property Tax -$401
Property Insurance -$107
Property Management Fees -$129
CASH FLOW
$169

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

$1,900

PROJECTED RENT

0.60%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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 40% 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

9.25

YEARS SAVED

$39,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,000
$2,000
RENT COMPS ANALYSIS
  • 7100 6th Ave N St Petersburg, FL 1
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.56
    •  
  • 5625 1st Ave N St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1987
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.53
    •  
PROPERTY LISTING DETAILS
Maria Diaz
1.727.992.2010
Re/max Sunset Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7829607
Last Updated: 01/07/2021
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