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$250,000

Sale Pending
509 N Washington Ave, Clearwater, FL 33755
2 Beds
1 Bath
1,176 Square Feet
0.21 Acres Lot
Built in 1953
Sale Pending
1 Units
Checked: 2 days ago
Updated: Jul 08, 2025 at 01:56AM

Investment Summary


Monthly Cash Flow
-$201
Cap Rate
5.2%
Cash-on-Cash Return
-4.2%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
-0.1%

Property Description


0.21 Acres Lot
Built in 1953
Sale Pending
1 Units

Under contract-accepting backup offers. Charming 2-Bedroom Home with Endless Potential – Near Clearwater Beach This home has great bones and is full of potential! Featuring 2 bedrooms and 1 bathroom, it’s an ideal opportunity for a first-time homebuyer, someone looking to downsize, or anyone in search of the perfect vacation retreat. The spacious yard provides plenty of room to expand—add a pool, build an in-law suite, or simply enjoy the outdoor space just as it is. Location is everything, and this home delivers! Just a short walk or ride to the Clearwater Country Club for a round of golf, and minutes from world-famous Clearwater Beach, vibrant Coachman Park, and the exciting new BayCare Sound venue for concerts and events. With so much to offer and endless possibilities to make it your own, this home is not to be missed!

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1

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: 102915184140090130
  • Lot Size: 9296 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1953

Tax Information

  • Annual Tax: $3,599

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Pinellas

Listing Details


Listed by:
Zenobia Brown
COLDWELL BANKER REALTY
(813) 289-1712

Source:
Stellar MLS
MLS#: TB8400312
Stellar MLS

Investment Summary


Monthly Cash Flow
-$201
Cap Rate
5.2%
Cash-on-Cash Return
-4.2%
Debt Coverage Ratio
0.84
Internal Rate of Return (5 years)
-0.1%

Purchase Details

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Purchase price:
$250,000
Amount financed:
-$200,000
Down payment:
$50,000
Closing costs:
$7,500
Rehab costs:
$0
Initial cash invested:
$57,500
Square feet:
1,176
Cost per square foot:
$213
Monthly rent per square foot:
$1.70

Financing Details

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Loan amount:
$200,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,281
Property tax:
$300
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,721

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$300-$3,600
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$800-$9,600

Cash Flow


Monthly Yearly
Net operating income:
$1,080 $12,960
Mortgage payments:
-$1,281 -$15,372
Cash flow:
$201 $2,412