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7228 Amhurst Way Clearwater, FL 33764

4 Beds 2 Baths 1,829 sqft Built 1972

$309,900

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $169.44
  • 5 Days on Market
  • MLS # : U8104451
  • Updated Date : 11/12/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,829 sqft
  • Baths : 2 full
Listing Agent

Flo Lugo Realty Inc

Listing Agent's Description

Welcome home! This 4 bedroom home has plenty of space for your family. Tile floors in all rooms except living room, split bedroom plan, oversized garage, screened in porch, fruit trees (lemon and lime), open patio I n back yard, and Solar Energy panels that generate Approx 12,140 KWH per year ($141.63/ per month average savings!). ***Many more upgrades (please see list on kitchen counter).

SEE MORE

MARKET HIGHLIGHTS

  • 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: Newport

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $55k252k

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

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7391727

* 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
Frontier Elementary School Primary Regular 704 55 8
Fitzgerald Middle School Middle Magnet 1,137 68 4
Pinellas Park High School High Magnet 2,173 109 4

Frontier Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 55
8
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
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,143
Property Tax -$379
Property Insurance -$143
HOA -$2
Property Management Fees -$80
CASH FLOW
$354

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.

$309,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.68%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$65,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,126

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9003$1,9494$1,9495$2,100
$2,100
RENT COMPS ANALYSIS
  • 7228 Amhurst Way Clearwater, FL 5
    • 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.15
    •  
  • 14875 Cromwell Dr Clearwater, FL 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1984
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
  • 3402 Floral Dr Largo, FL 2
    • 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 1959 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 1959
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
  • 7326 Norwich Ln Clearwater, FL 3
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1973
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $1.17
    •  
  • 15375 Hopedale Ln Clearwater, FL 4
    • 4 beds 4 baths ∙ 1,658 Sqft ∙ Built 1972 4 beds 4 baths ∙ 1,658 Sqft ∙ Built 1972
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $1.18
    •  
PROPERTY LISTING DETAILS
Florence Lugo
1.727.455.7361
Flo Lugo Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104451
Last Updated: 11/12/2020
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