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810 15th Ave S St Petersburg, FL 33701

3 Beds 2 Baths 1,400 sqft Built 2020

$170,100

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $121.50
  • 3 Days on Market
  • MLS # : U8104395
  • Updated Date : 11/14/2020 at 10:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Stofel & Associates Realty

Listing Agent's Description

Fractional Ownership. Fractional Ownership. Possible down payment assistance up to $40,000.00 through the City of St. Petersburg for qualifying households. Fractional Ownership. NEW CONSTRUCTION, NEVER LIVED IN. Home is part of an affordable housing program has income restrictions and land lease. New construction has solar power. 3 bedroom 2 bath 1 car garage great room plan. Home was built with grant money and cooperation with city of St Petersburg. This program is to assist buyers become home owners that have limited income. All the same privileges of ownership at a lower cost, only real restriction is buyer must make less than 80% AMI. Buyer/Buyers agent responsible for verifying all room measurements.

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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: Bartlett Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $47k238k

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

Neighborhood: Bartlett Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5301590

* 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
Campbell Park Elementary School Primary Magnet 564 58 1
John Hopkins Middle School Middle Magnet 823 63 2
Gibbs High School High Magnet 1,348 85 3

Campbell Park Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 58
1
GreatSchools Rating

John Hopkins Middle School

  • Education Level: Middle
  • # of students: 823
  • # of teachers: 63
2
GreatSchools Rating

Gibbs High School

  • Education Level: High
  • # of students: 1,348
  • # of teachers: 85
3
GreatSchools Rating
 

$153,090$187,110$170,100

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$628
Property Tax -$217
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
$298

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$170,100

PROJECTED PRICE

$1,340

PROJECTED RENT

0.79%

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) 3.00%
Vacancy 5.25%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,077

INVESTMENT

$47,077

Down Payment
$42,525
Rehab Estimate
$2,000
Closing Costs
$2,552

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$628

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,525
Loan Amount $127,575
See What Happens When You Reinvest Cash Flow

14.5

YEARS SAVED

$48,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3003$1,3404$1,4455$1,500
$1,500
RENT COMPS ANALYSIS
  • 810 15th Ave S St Petersburg, FL 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.96
    •  
  • 2492 15th Ave S St Petersburg, FL 1
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 2004
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
  • 1004 Newton Ave S St Petersburg, FL 2
    • 3 beds 2 baths ∙ 1,076 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,076 Sqft ∙ Built 2004
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.21
    •  
  • 805 35th Ave S St Petersburg, FL 4
    • 4 beds 2 baths ∙ 1,178 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,178 Sqft ∙ Built 2007
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.23
    •  
  • 697 17th Ave S St Petersburg, FL 5
    • 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 2006
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
PROPERTY LISTING DETAILS
Scott Friedman
1.813.625.1490
Stofel & Associates Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104395
Last Updated: 11/14/2020
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