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105 Savona Ct North Venice, FL 34275

3 Beds 2 Baths 1,518 sqft Built 2004

INVESTimate

$294,500

List Price

$2,260

$2,034 - $2,486

Rent Est.

$301,686  ( +2.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $194.01
  • 8 Days on Market
  • MLS # : A4475194
  • Updated Date : 08/23/2020 at 14:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,518 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Welcome home to the beautiful Venetian Golf and River Club. This quality built WCI house is located on an oversized Cul-de-sac lot with preserve and golf course views. Enjoy relaxing evenings in the large screened in lanai featuring luxurious sliding glass doors that pocket on both sides. Within the home you will be delighted to find a gourmet kitchen that includes a breakfast bar, solid surface counter tops, wood cabinets, and GAS APPLIANCES! Natural gas is not common in many communities, and is a loved commodity in Florida! The kitchen opens up into the dining area, lanai, and great room. The great room features top quality laminate wood floors and a sleek wall inlay for your entertainment system. Spread out in your large master bedroom that feels even more spacious with tray ceilings. The third bedroom also makes an excellent den/study. Out back, beyond your serene lanai, there is plenty of ROOM FOR A POOL. As the home is located with the Castello enclave at The Venetian Golf and River Club (Golf Club Memberships are optional) is a maintenance free affordable community. The community is Located in North Venice, 10 minutes from the gulf beaches & shopping. Amenities include dining, fitness center & aerobics studio, lap pool, resort style pool & cabana bar. In addition there are 6 Har-Tru Courts & a tennis center, boardwalk with a scenic view of the 70 acre nature park nestled along the Myakka River. North Venice and Venice features plenty of nearby shopping and new stores making Venice a hot spot for family, outdoor recreation, and high quality lifestyle living, including nearby new baseball spring training camps in North Port and in Sarasota! Come see this house today! Homestead taxes may be less.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$265,050$323,950$294,500

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,087
Property Tax -$599
Property Insurance -$129
HOA -$142
Property Management Fees -$80
CASH FLOW
$223

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.

$294,500

PROJECTED PRICE

$2,260

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 2.44%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,793

INVESTMENT

$83,793

Down Payment
$73,625
Rehab Estimate
$5,750
Closing Costs
$4,418

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,087

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,625
Loan Amount $220,875
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$43,322

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,039

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,2004$2,260
$2,260
RENT COMPS ANALYSIS
  • 105 Savona Ct North Venice, 4
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.49
    •  
  • 259 Cassano Dr Nokomis, 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, 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, 3
    • 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
Brett Keyser, Jr
1.941.957.8425
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475194
Last Updated: 08/23/2020
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