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Address 3027 Melton St N, St Petersburg, FL 337042326 17th St S, St Petersburg, FL 33712944 18th Ave S, St Petersburg, FL 3370511303 122nd Ter, Largo, FL 33778 5250 22nd Ave N, St Petersburg, FL 337102115 Whispering Pines St, Largo, FL 337741223 36th Ave N , St Petersburg, FL 33704
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Highlights
Explosive Gentrification / Luxury New Build Neighbourhood
Simple Passive InvestmentDuplex Occupied - Exceptional ROI / New Roof/ 2 Newer AC. 5 Mins to Downtown1031 Exchange Ready.
Buy and Hold Wealth Builder
Fully Renovated.
Furnished and Operating MTM AirBNB
Fully Renovated. Furnishings INCLUDED & Operating MTR AirBNB
Gorgeous Downtown Neighbourhood
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BUYING STRATEGY INVESTMENT THESISVery rare opportunity to own in Magnolia Heights! 33704 is the sixth wealthiest zip code in ALL of the Tampa Bay area. 7 new construction houses within .2 miles averaging $1.45mGreat Neighborhood, rare 4 bedroom that has huge potential for section 8 $200-$300 increased rental income; putting on new roof, updating plumbing, adding cosmetic updatesNew Mixed Use - Special Zoning! - 3 Mins To Major Medical Complexes. and Inovation center; build up to 3 units on vacant lotFull Extensive Retail Renovation Completed - CURRENTLY Rented at $3,000 Per Month. This is an A Class Wealth Builder4.80 stars w/ 10 reviews on Airbnb (ask for MTR regulations)4.5 stars w/ 4 reviews on Airbnb (ask for STR regulations)Huge Equity Play - AAA Class Location.Buy As IS. A Class neighborhood. SImply Rent As -IS. Estimated Renovated Retail Value $410,000. Build ADU to add future value
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Click Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation Request
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Availability Status Available NowAvailable NowAvailable NOW - Duplex Currently Rented to stable happy tenants at $ 2700 PM Available - Tenant in Place till January 2024!Reserved-
Fully Furnished! - Performing MTR!
Reserved NOW Fully Furnished!
Performing MTR!
Reserved 5/20/2023 Instant Equity . Buy As IS. A Class neighborhood. SImply Rent As -IS. Estimated Renovated Retail Value $410,000
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Estimated Renovation Completion Date July 2023Late June 2022 Vacant Lot Value $ 140k NTM-1 CompletedCompletedCompleted
If we complete Cosmetic Renovations 35K- we will list this on MLS at $415,000
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Google Map LinkGoogle MapGoogle MapGoogle MapGoogle MapGoogle MapGoogle MapGoogle Map
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SchematicSchematicSchematicSchematicSchematicSchematicSchematicSchematic
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Beds2434332
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Baths112211.51
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Number of Units1121111
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Garage0001Carport1carport
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Sq Ft9601,1401,7131,8591,0761,0001,280
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Year Built19251965193819721959491936
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Pool NoNoNoNoNoNoNo
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Presumed Flood Zone StatusXXXXXXX
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PhotosPre Renovation PhotosPre Renovation PhotosPhotosPhotosPhotos PhotosPhotos
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Link to Finished Project 3D TourWhy this immediate area?n/aNTM -1 45 x 1193D Tour3D Tour3D TourNT-2 50 x 115
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Live Airbnb linkLive Airbnb Link
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Financial Overview / Purchase Price$365,000$324,900$395,000$495,000$335,000$335,000$343,322
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Estimated Target Rent ( Long Term Lease)$2,450$2,300$2,700$3,100$2,750$2,700$2,200
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Estimated Gross Annual Rent$29,400$27,600$32,400$37,200$33,000$32,400$26,400
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Estimated Maintenance $1,470.00$1,380.00$1,620.00$1,860.00$1,650.00$1,620.00$1,320.00
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Estimated Management (8%) $2,352.00$2,208.00$2,592.00$2,976.00$2,640.00$2,592.00$2,112.00
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Estimated Taxes* (Please see Note Below)$5,110$4,549$5,530$6,930$4,690$4,690$4,807
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Estimated Home Insurance $1,598$1,666$1,959$1,560$1,334$858$2,200
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HOA/Utility0000000
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Estimated Net Operating Income $18,870$17,797$20,699$23,874$22,686$22,640$15,961
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Estimated Cash Purchase Monthly Cash Flow$1,573$1,483$1,725$1,990$1,891$1,887$1,330
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Cash Purchase ProjectionsCash Purchase ProjectionsCash Purchase ProjectionsCash Purchase ProjectionsCash Purchase ProjectionsCash Purchase ProjectionsCash Purchase ProjectionsCash Purchase Projections
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Estimated Monthly Cash Flow after Fixed Costs$1,573$1,483$1,725$1,990$1,891$1,887$1,330
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Purchase Price$365,000$324,900$395,000$495,000$335,000$335,000$343,322
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Estimated Cash Purchase Net Rental Return5.17%5.48%5.24%4.82%6.77%6.76%4.65%
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Conventional Financed Purchase ProjectionsFinanced Purchase ProjectionsFinanced Purchase ProjectionsFinanced Purchase ProjectionsFinanced Purchase ProjectionsFinanced Purchase ProjectionsFinanced Purchase ProjectionsFinanced Purchase Projections
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Estimated Down Payment 35% $127,750$113,715$138,250$173,250$100,500$100,500$102,997
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Latest 30 yr Fixed @ 6.35% With 2 Points6.35%6.35%6.35%6.35%6.35%6.35%6.35%
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Estimated Loan Duration 360 Months360360360360360360360
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Estimated Mortgage Amount$237,250.00$211,185.00$256,750.00$321,750.00$234,500.00$234,500.00$240,325.40
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Estimated Mortgage Interest and Principal Payments$17,715.05$15,768.82$19,171.08$24,024.52$17,509.71$17,509.71$17,944.69
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Estimated Annual Cash Flow after Mortgage and recurring expenses$1,155$2,029$1,528-$151$5,176$5,130-$1,983
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Estimated Monthly Cash Flow$96.25$169.05$127.33-$12.54$431.36$427.52-$165.27
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**NEW** IRR Underwriting3027 Melton St N, St Petersburg, FL 33704 IRR Sheet2326 17h St S, St Petersburg, FL 33712944 18th Ave S IRR Sheet11303 122nd Ter IRR Sheet5250 22nd IRR Sheet2115 Whispering Pines IRR Sheet1223 36th Ave N IRR Sheet
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Click Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation RequestClick Here to Submit Reservation Request
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DISCLAIMER PLEASE READ.There are no implied or expressed guarantees on any cash flow projections contained within this communication or its attachments. Real Estate investments are subject to risk and loss of capital. Renovation scopes of work are subject to change. The contents of this email do not constitute part of any purchase agreement. Any pro-forma numbers are projections based on some basic historical data, but future performance cannot be guaranteed as markets and economies shift. Rents, property taxes, insurance, loan rates, property management, maintenance and vacancy costs all vary depending on micro and macro economic factors. Investors should perform their own due diligence in order to best forecast the potential performance of their rental properties. Any opinions expressed in this communications and/or attachments do not necessarily reflect the opinions of Torcana or West Florida Invest Group.
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Estimated Taxes*
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We only estimate 1% of the sales value. this is a rudimentary "barometer" of what to expect, however this estimate does not represent any statement of fact on our part.
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Please conduct your own research into specific property taxes in the county and city you are interested investing in.

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