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415 Island Way Apt 507, Clearwater, FL 33767, US
Copied

$765,000
BiggerPockets estimate

Off Market
415 Island Way Apt 507, Clearwater, FL 33767
3 Beds
2 Baths
1,800 Square Feet
Lot n/a
Built in 2021
Off Market
1 Units
Checked: 8 months ago
Updated: Jul 28, 2025 at 06:02AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$126
Cap Rate
5.9%
Cash-on-Cash Return
-0.9%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.2%

Property Description


Lot n/a
Built in 2021
Off Market
1 Units

This property is not currently listed for sale or rent on BiggerPockets. The details below may have been provided by the owner, a third party, or public records.

Located at 415 Island Way Apt 507, Clearwater, FL (ZIP code 33767) this condominium features 3 bedrooms, 2 bathrooms and approximately 1,800 square feet of living space. The property was built in 2021.

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Location


Property Details


Parking

  • Description: Assigned, Under Building

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 5

Exterior Features

  • Exterior Walls Materials: Concrete

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 082915019950005070

Property Information

  • Property Type: Condominium
  • Year Built: 2021

Tax Information

  • Annual Tax: $7,475

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Pinellas

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$126
Cap Rate
5.9%
Cash-on-Cash Return
-0.9%
Debt Coverage Ratio
0.97
Internal Rate of Return (5 years)
3.2%

Purchase Details

Find an Agent

Purchase price:
$765,000
Amount financed:
-$612,000
Down payment:
$153,000
Closing costs:
$22,950
Rehab costs:
$0
Initial cash invested:
$175,950
Square feet:
1,800
Cost per square foot:
$425
Monthly rent per square foot:
$3.56

Financing Details

Find a Lender

Loan amount:
$612,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,919
Property tax:
$623
Insurance:
$448
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,990

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$6,400 $76,800
Vacancy loss: (6%)
6% -$384 -$4,608
Operating income:
$6,016 $72,192

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$623-$7,476
Insurance: (7%)
7%-$448-$5,376
Property management: (8%)
8%-$512-$6,144
Repairs & maintenance: (5%)
5%-$320-$3,840
Capital expenditures: (5%)
5%-$320-$3,840
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (35%)
35%-$2,223-$26,676

Cash Flow


Monthly Yearly
Net operating income:
$3,793 $45,516
Mortgage payments:
-$3,919 -$47,028
Cash flow:
-$126 -$1,512