Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8131 59th Way N Pinellas Park, FL 33781

4 Beds 3 Baths 2,358 sqft Built 2017

$399,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $169.59
  • 6 Days on Market
  • MLS # : T3275253
  • Updated Date : 11/11/2020 at 09:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,358 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premier Sothebys Intl Realty

Listing Agent's Description

Gorgeous, two-story home located in a gated community. Built in 2017, this move-in ready home showcases a large open-concept downstairs with the kitchen overlooking the family room and separate dining space, while the upstairs boasts four spacious bedrooms, two full bathrooms, a laundry room and an oversized loft area currently used as a home office. The beautiful kitchen acts as the main focal point of the first floor and has a walk-in pantry, stainless steel appliances, custom recessed lighting and rustic pendant lights, hardwood cabinetry and an oversized island with granite countertops. The upstairs owner’s suite has a massive walk-in closet and an en-suite bath with dual sink vanity and even more closet space. The fenced backyard retreat has a covered lanai with a brand new extended brick paver lounge and a greenbelt buffer behind the house for added privacy. Other features include new laminate flooring, convenient half-bath on the first floor, stylish fixtures, Decora smart dimmers and switches, and custom rain gutters tied into underground French drains for proper yard drainage. Stonebrook Crossing is a gated, pet-friendly community that offers low monthly fees and is conveniently located near shopping, dining, highway access, St. Petersburg International Airport, and a short drive from downtown St. Pete, as well as numerous Gulf beaches.

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

Zip Code: 33781

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k238k

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

Zip Code: 33781

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
Skyview Elementary School Primary Regular 672 47 5
Pinellas Park Middle School Middle Regular 1,090 69 3
Dixie M. Hollins High School High Regular 1,826 104 4

Skyview Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 47
5
GreatSchools Rating

Pinellas Park Middle School

  • Education Level: Middle
  • # of students: 1,090
  • # of teachers: 69
3
GreatSchools Rating

Dixie M. Hollins High School

  • Education Level: High
  • # of students: 1,826
  • # of teachers: 104
4
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,475
Property Tax -$540
Property Insurance -$174
HOA -$124
Property Management Fees -$80
CASH FLOW
-$3

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.

$399,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.60%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$29,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $3,089

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,3903$4,100
$4,100
RENT COMPS ANALYSIS
  • 8131 59th Way N Pinellas Park, FL 2
    • 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.01
    •  
  • 6663 83rd Ave N Pinellas Park, FL 1
    • 3 beds 3 baths ∙ 2,025 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,025 Sqft ∙ Built 2005
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
  • 7041 Bayou West Ave N Pinellas Park, FL 3
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.63
    •  
PROPERTY LISTING DETAILS
Paul Desantis, Pa
1.813.439.4816
Premier Sothebys Intl Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275253
Last Updated: 11/11/2020
BESbswy