Investors in Clearwater rental property duplex

Investors in Clearwater rental property duplex

Member since 2023 · 2 posts · 0 votes

Would love to hear any thoughts on if this property is a good investment for cash flow.  Currently purchasing a 2/2 and 3/2 duplex in Clearwater with around 800 sq ft per unit. Property will need about 20k in updates related to roof, hvac and electrical concerns. Purchase price 500k with anticipated 5k for flood insurance and 5k for standard insurance. The property is 8 min drive to the beach and walking distance to dunedin.

After running the numbers in the bigger pockets, rent estimator and Rentometer.  To break even both properties would 2,200+ which may be a stretch based on the layout of the home. Also, I’m still seeing numbers where this property would be a negative cash flow or I also could be incorrectly doing the numbers.

Are there any other investors in the tampa bay region that would be able to assist with determining is worth the purchase?

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  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 667 votes
    3y

    Hi Allyssa,

    I have a pretty extensive referral network in the area that I believe would be able to be of some assistance to you and your valuation. Lets connect! Send me a private message 😊

  • Property Manager · Tampa, FL · Member since 2023 · 17 posts · 7 votes
    3y

    Hi Allyssa, I have a similar property I'm evaluating in St. Pete for a client. Feel free to send me a DM. 

  • Member since 2023 · 2 posts · 0 votes
    3y
    thank you I would very much appreciate the help!!! Thank you so much 



    Quote from @Devin Peterson:

    Hi Allyssa,

    I have a pretty extensive referral network in the area that I believe would be able to be of some assistance to you and your valuation. Lets connect! Send me a private message 😊


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