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10138 Poet Pl Englewood, FL 34224

3 Beds 2 Baths 1,578 sqft Built 2015

$239,999

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $152.09
  • 4 Days on Market
  • MLS # : C7436179
  • Updated Date : 12/04/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,578 sqft
  • Baths : 2 full
Listing Agent

Re/max Palm Realty

Listing Agent's Description

Want a newer built home but having a hard time finding one or don’t want to wait the 12 months to build it? Here is a December 2015 built purchased as a winter home and barely lived in! The 3 bedroom, 2 full bathroom home has allergen free ceramic tile flooring throughout, granite countertops in kitchen, Master & Guest bathrooms, PLUS fully tiled showers…no fiberglass inserts here! The Master Suite has a walk in closet, en-suite bathroom, and large sleeping area that easily accommodates a king size bed, side tables, dresser, as well as room for a desk or work out station. The split floorplan offers guests & homeowners privacy, with an open concept central living space. Dining room has French doors leading out to the lanai, and garage entrance is off the foyer. Enjoy the Florida weather sipping your morning coffee from the large 16’x10’ lanai which is covered with trusses & fully screened. The oversized backyard has plenty room for a pool! Keyless entry pad on the garage with remotes for vehicles, egress door in garage for easy access to garbage bins & A/C condenser, entire home is pre-wired for security cameras, plus for protection & lower insurance rates, home has 100% hurricane coverage with its doors, shutters, and construction ratings. Not located in a flood zone, and this home’s annual insurance costs are less than $800 a year! Public water and electric bills are low cost in this newer, energy efficient, concrete block constructed home! No worries over roof, plumbing, electrical, or even painting…this 5 year old home will provide years of peace of mind and low maintenance! Spend your time relaxing and enjoying…6 miles (12 minutes) to Englewood Beach, 2.8 miles to the nearest Golf course, 4.7 miles to the nearest public boat launch, and only 1 mile to a grocery store. Banking, medical services, shopping, restaurants all nearby; take in a ballgame at the Rays Stadium down the road, or venture into historic Englewood & Venice. Call and schedule your private tour of this gem!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Section 62

NeighborhoodNIR Market*City2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k350k

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

Neighborhood: Section 62

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212501300135014001450150015501600165017001750Rent in $12471755

* 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
Myakka River Elementary School Primary Regular 515 35 5
L. A. Ainger Middle School Middle Regular 775 41 6
Lemon Bay High School High Regular 1,268 62 7

Myakka River Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 35
5
GreatSchools Rating

L. A. Ainger Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 41
6
GreatSchools Rating

Lemon Bay High School

  • Education Level: High
  • # of students: 1,268
  • # of teachers: 62
7
GreatSchools Rating
 

$215,999$263,999$239,999

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$885
Property Tax -$287
Property Insurance -$130
Property Management Fees -$129
CASH FLOW
$338

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$239,999

PROJECTED PRICE

$1,770

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 3.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $179,999
See What Happens When You Reinvest Cash Flow

12.92

YEARS SAVED

$57,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6654$1,7705$1,900
$1,900
RENT COMPS ANALYSIS
  • 10138 Poet Pl Englewood, FL 4
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.12
    •  
  • 10146 Poet Pl Englewood, FL 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2015
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 10371 Grail Ave Englewood, FL 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
  • 10363 Grail Ave Englewood, FL 3
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $1.04
    •  
  • 9347 Loyola Ave Englewood, FL 5
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2002
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.15
    •  
PROPERTY LISTING DETAILS
Dawn Merritt
1.941.323.3202
Re/max Palm Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7436179
Last Updated: 12/04/2020
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