Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1049 N Purdue St North Port, FL 34288

3 Beds 2 Baths 1,753 sqft Built 2003

$259,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $148.26
  • 2 Days on Market
  • MLS # : C7435320
  • Updated Date : 11/07/2020 at 19:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,753 sqft
  • Baths : 2 full
Listing Agent

3d Realty Group

Listing Agent's Description

Looking for a beautiful home with lots of land?! Look no further than this 3/2/2 that comes with over 30,000 sqft of land. The house currently sits on a oversized corner lot on CITY WATER!!!! The adjacent lot which is over 15,000 sqft, also with CITY WATER, comes with this house. Brand new entire A/C system was installed in 2017 and new water heater installed in 2018. Centrally located in North Port, this house is closely located to The Shoppes at Price Crossing and just a few miles from I-75. Don't miss out on this opportunity to make this your home. Call today to schedule your showing!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Port Charlotte

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

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

Neighborhood: North Port Charlotte

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9362041

* 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
Toledo Blade Elementary School Primary Regular 742 56 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Toledo Blade Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 56
6
GreatSchools Rating

Woodland Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 50
7
GreatSchools Rating

North Port High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 119
6
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$959
Property Tax -$320
Property Insurance -$144
Property Management Fees -$80
CASH FLOW
-$32

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.

$259,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$17,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5003$1,5254$1,5755$1,850
$1,850
RENT COMPS ANALYSIS
  • 1049 N Purdue St North Port, FL 1
    • 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.84
    •  
  • 2266 Boxwood St North Port, FL 2
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 2003
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 2090 Sadnet Ln North Port, FL 3
    • 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2016
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.81
    •  
  • 1150 Knotty Pine Ave North Port, FL 4
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 2005
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 2241 Boxwood St North Port, FL 5
    • 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2001
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Miguel Segura, Jr
1.786.586.5279
3d Realty Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435320
Last Updated: 11/07/2020
BESbswy