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$1,150,000

Beds
8
Baths
5.0
sq ft
2,515

4761 1st Ave N, Saint Petersburg, FL 33713

4761 1st Ave N

ST PETERSBURG, FL 33713

  • 284 days on market
DO NOT APPROACH ANY PROPERTY & DISTURB TENANTS CONFIDENTIALITY AGREEMENT REQUIRED FOR ADDITIONAL INFORMATION *This is an income producing property* Well-established single-family home with an ADU in St Petersburg with a projected $94,745 of Net Operating Income on existing leases in the NTM. Many leases are below market w/ significant rent growth available upon turnover. The property had a full gut renovations in 2021 with new roofs, electricity, plumbing, hvac, kitchens, baths, drywall, cabinets, lighting, pavers and flooring. This property has higher end finishes and have been built to last. This property is located in an area with significant new development activity, and is zoned in the new zoning district NTM-1. This property is best suited for a passive, cash flow oriented investor(s) seeking a stable long term investment in a fast-growing market of St Petersburg, Florida. Property management in place and willing to manage post transaction for 10% of collected rent. Potential buyers must prove financial ability to close and be familiar with valuing property based on cash flow. Seller will give preference to offers with lower loan to value ratios. Seller may consider seller financing with the right legal structure and a minimum of $350k of cash equity and no other liens. Seller is local, believes in the upside potential of this portfolio, is willing to stay involved, and is selling to facilitate retirement.

Details

Property type

Single Family Residence

Est. home value

$760,386

Lot size

6,351 sq ft

Price per sq ft

$458

Year built

1925

Annual property taxes

$8,539

Price History

01/26/2024
StellarMLS

StellarMLS #W7861395

Listed
$1,150,000

Schools & Community

Neighborhood: 

Central Oak Park

Elementary school: 

Northwest Elementary-PN

Middle school: 

Azalea Middle-PN

High school: 

Boca Ciega High-PN

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$714,986
Asking price
$1,150,000
Closing costs (~8% of asking)
-$92,000
Est. remaining loan balance
-$343,014
Cash to seller
$714,986

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Better Mortgage Corporation

Loan start date

January 2021

Original loan amount

$375,000

Est. remaining balance

$343,014

Interest rate

2.71%

Loan type

New Conventional, 30 year

Seller

Shanu Gupta and Mark Hunter

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/05/2024 at 2:50 PM

Listing updated: 09/04/2024 at 1:07 PM

Listed by: Nick Price, PRICE PROPERTIES & INVESTMENTS, LLC Phone #: (727) 453-2165

MLS: StellarMLS #W7861395

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