621 E Street is home to the Lakeview Lofts, a 100% occupied and professionally managed multifamily asset comprised of one main home and three studio units. The property has undergone various recent improvements and received a new roof in 2016. It is in a phenomenal location with easy access to Clearwater's best attractions, as well as restaurants, shopping, and entertainment. Lakeview Lofts overlook Lake Belleview and are conveniently not in a flood zone.
The units are currently leasing for $5,875/ month; see below for further income/expense breakdown.
Cost analysis performed as rental property:
In:
Rent - $70,500.00
Out:
(Annual) Property Taxes - $4,344.30
(Annual) Estimated Insurance - $2,401.00
(Annual) Property Management (Optional) - $5,640.00
(Annual) Estimated Utilities/Lawn/Repair/Misc. - $8,640.00
Total Costs - $21,025.30
Net: $49,474.70
Earn:
Total yearly net equates to - $49,474.70
Total monthly gross equates to - $5,875.00
Total monthly net equates to - $4,122.89