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101 Cipriani Way North Venice, FL 34275

3 Beds 2 Baths 1,621 sqft Built 2005

$349,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $215.85
  • 2 Days on Market
  • MLS # : N6112652
  • Updated Date : 11/28/2020 at 09:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,621 sqft
  • Baths : 2 full
Listing Agent

Palmerhouse Properties

Listing Agent's Description

RELAX on Your Lanai and ENJOY the EXPANSIVE GOLF COURSE VIEW from your SCREENED LANAI and GREAT ROOM. WCI built DOLCI model offers you a plan with 3 bedrooms or 2 bedrooms and a den plus a SPACIOUS GREAT ROOM. You get a warm welcoming feeling upon entering this home with lots of natural lighting and wide open spaces. A kitchen with granite counters, lots of upgraded solid wood cabinetry, newer stainless steel gas appliances, breakfast bar with custom lighting all designed to keep the cook engaged in family functions with its openness. Open the Pocketing Sliders in the Great Room and let the cool crisp breezes in and the wonderful view of the 12 green. Owners suite features views of the golf course, tray ceilings, a walk in closet, bath with both a tub and separate shower plus glass blocks for lots of natural lighting and privacy. Immaculate home with crown molding through out, a custom niche in the great room, neutral décor plus it's MAINTENANCE FREE! You also have a side load two car garage with a paver driveway. Situated in The Venetian Golf & River Club a GATED SECURED GOLFING COMMUNITY in North Venice, 10 minutes from gulf beaches & shopping. The River Club features dining. 70-acre nature park nestled along the Myakka River. Full fitness center and aerobics studio, lap pool, resort style pool & cabana bar. 6 Har-Tru courts plus tennis center. An 18-hole championship golf course. Situated in The Venetian Golf & River Club a GATED SECURED GOLFING COMMUNITY in North Venice, 10 minutes from gulf beaches & shopping. The River Club features dining. 70-acre nature park nestled along the Myakka River. Full fitness center & aerobics studio, lap pool, resort style pool & cabana bar. 6 Har-Tru courts plus tennis center. An 18-hole championship golf course.

SEE MORE

MARKET HIGHLIGHTS

  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)
  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)

PRICE & RENT TRENDS

Neighborhood: Venetian Golf And River Club

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k487k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Venetian Golf And River Club

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2140016001800200022002400260028003000Rent in $12943009

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Laurel Nokomis School Primary Regular 1,024 85 9
Laurel Nokomis School Middle Regular 1,024 85 9
Venice High School High Regular 1,941 96 8

Laurel Nokomis School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Laurel Nokomis School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,291
Property Tax -$692
Property Insurance -$135
HOA -$70
Property Management Fees -$80
CASH FLOW
-$89

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$349,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 2.4%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$15,327

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,180

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,178

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1804$2,200
$2,200
RENT COMPS ANALYSIS
  • 101 Cipriani Way North Venice, FL 3
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.34
    •  
  • 259 Cassano Dr Nokomis, FL 1
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2017
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.32
    •  
  • 121 Bellini Ct North Venice, FL 2
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2005
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.23
    •  
  • 177 Cipriani Way North Venice, FL 4
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2005
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.48
    •  
PROPERTY LISTING DETAILS
Colleen Stone
1.610.703.1369
Palmerhouse Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112652
Last Updated: 11/28/2020
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