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8420 59th Ln N Pinellas Park, FL 33781

3 Beds 2 Baths 1,101 sqft Built 1960

$235,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $213.44
  • 2 Days on Market
  • MLS # : U8106006
  • Updated Date : 11/29/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,101 sqft
  • Baths : 2 full
Listing Agent

Realty Experts

Listing Agent's Description

Wow! Are you looking for an affordable place in Pinellas County to call your own? This one may be exactly what you are looking for! This 3 bedroom, 2 bath home is conveniently located near major roads and has quick access to most local amenities. Fantastic open floorplan with recent upgrades including fresh paint, newer and new vinyl flooring, some kitchen and bath upgrades. You also have an indoor laundry room as well as a nice rear porch to help you enjoy the beautiful Florida weather. Come see this pretty little peach before someone else gets the opportunity to make it theirs! **Buyer(s) to verify all room dimensions.**

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$867
Property Tax -$317
Property Insurance -$100
Property Management Fees -$80
CASH FLOW
-$14

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.

$235,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,368

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3954$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 8420 59th Ln N Pinellas Park, FL 2
    • 3 beds 2 baths ∙ 1,101 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,101 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.23
    •  
  • 5301 89th Ave N Pinellas Park, FL 1
    • 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1970
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.26
    •  
  • 5110 86th Ave N Pinellas Park, FL 3
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1978
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.24
    •  
  • 5881 90th Ave N Pinellas Park, FL 4
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1971
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.23
    •  
  • 5621 90th Ave N Pinellas Park, FL 5
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1961
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.24
    •  
PROPERTY LISTING DETAILS
Loveda Markley
1.727.656.8291
Realty Experts
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106006
Last Updated: 11/29/2020
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