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$859,000

For Sale - Active
1039 Union St, Clearwater, FL 33755
3 Beds
3 Baths
1,800 Square Feet
0.25 Acres Lot
Built in 1956
For Sale - Active
1 Units
Checked: 8 hours ago
Updated: Jun 24, 2025 at 03:26AM

Investment Summary


Monthly Cash Flow
-$2,261
Cap Rate
3.1%
Cash-on-Cash Return
-13.7%
Debt Coverage Ratio
0.50
Internal Rate of Return (5 years)
-9.3%

Property Description


0.25 Acres Lot
Built in 1956
For Sale - Active
1 Units

Welcome to 1039 Union Street – NOT IN A FLOOD ZONE AND NO DAMAGE FROM THE STORMS! A Rare Gem Where Clearwater Meets Dunedin! Enjoy peaceful water views from your front yard and patio at this beautifully updated 3-bedroom, 2.5-bath block home—elevated above the flood zone and perfectly positioned where Clearwater and Dunedin meet. Set on a spacious quarter-acre lot with a large private backyard, this home offers the best of Florida living without the worry of storm or flood damage. Inside, charm meets comfort with beamed ceilings, a cozy fireplace, and an airy, open layout filled with natural light. The renovated kitchen boasts a new dishwasher and modern finishes, while the custom touches throughout add warmth and personality. You’ll also love the dedicated laundry room, as well as the garage with built-in storage and a half bath for added convenience. Step outside into your personal oasis: a stunning screened lanai with tile and stone accents, triple sliding glass doors that open to both the living area and yard, and views of a tranquil fountain—perfect for entertaining or relaxing in privacy. The fully fenced backyard has room to add a pool and was thoughtfully designed with fresh landscaping, reclaimed water irrigation, new gutters, and an extended privacy fence with gate. Recent upgrades ensure peace of mind: PGT impact-rated windows and doors, a hurricane-rated garage door, new Trane HVAC system with updated ductwork, a 200-amp electrical panel with generator-ready sub-panel, and a new roof installed for longevity—not due to any damage. Located just minutes from vibrant Downtown Dunedin, you can golf cart, bike, or walk to the Pinellas Trail, local boutiques, waterfront parks, craft breweries, and top-rated restaurants. Don’t miss this move-in ready, storm-tested retreat that blends custom style, practical upgrades, and an unbeatable location. Schedule your private showing of 1039 Union Street today—and make this exceptional home your coastal haven!

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Location


Property Details


Parking

  • Description: Bath In Garage
  • Details: Attached
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 032915052200180090
  • Lot Size: 10724 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1956

Tax Information

  • Annual Tax: $10,420

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Zoned

Location

  • County: Pinellas

Listing Details


Listed by:
Katie Ducharme Procissi
KATIE DUCHARME REALTY, LLC
(727) 492-8490

Source:
Stellar MLS
MLS#: TB8382523
Stellar MLS

Investment Summary


Monthly Cash Flow
-$2,261
Cap Rate
3.1%
Cash-on-Cash Return
-13.7%
Debt Coverage Ratio
0.50
Internal Rate of Return (5 years)
-9.3%

Purchase Details

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Purchase price:
$859,000
Amount financed:
-$687,200
Down payment:
$171,800
Closing costs:
$25,770
Rehab costs:
$0
Initial cash invested:
$197,570
Square feet:
1,800
Cost per square foot:
$477
Monthly rent per square foot:
$2.50

Financing Details

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Loan amount:
$687,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$4,498
Property tax:
$868
Insurance:
$315
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,681

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,500 $54,000
Vacancy loss: (6%)
6% -$270 -$3,240
Operating income:
$4,230 $50,760

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$868-$10,420
Insurance: (7%)
7%-$315-$3,780
Property management: (8%)
8%-$360-$4,320
Repairs & maintenance: (5%)
5%-$225-$2,700
Capital expenditures: (5%)
5%-$225-$2,700
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (44%)
44%-$1,993-$23,920

Cash Flow


Monthly Yearly
Net operating income:
$2,237 $26,844
Mortgage payments:
-$4,498 -$53,976
Cash flow:
$2,261 $27,132