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1065 Nantucket Rd Venice, FL 34293

3 Beds 2 Baths 1,460 sqft Built 1986

$230,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $157.53
  • 6 Days on Market
  • MLS # : D6115521
  • Updated Date : 12/24/2020 at 09:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,460 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

This home has a sunny Florida personality from the start! The white picket front porch railing and attractive exterior accents welcome you home. Inside the vaulted ceilings and numerous windows provide an energizing flow of natural light and create a feeling of extra volume. The open and split floor plan is perfect for entertaining and provides privacy from your guests who will never want to go home! The beautiful ceiling fans and lighting fixtures give this home a classic look. The kitchen features classic stainless and black appliances, a tiled backsplash, and a breakfast bar which is the perfect spot for your morning coffee as you plan your day. Will you take the ferry, less than ½ mile away, to the private beach along Manasota Key, or launch your boat at the gated boat ramp, right next to the ferry, both exclusively available to South Venice residents for nominal annual fees. This home offers easy access to both Downtown Venice and Englewood where fine dining, live entertainment, festivals and shopping can be found. Grill on the back patio in the evening after a fun day at a local beach, golf course, or a day of shopping and enjoy your private backyard. The bonus room can be used in so many ways - a game or craft room, den or office, and the two sheds are the perfect place to store your toys or use as a workshop. Located in an X flood zone, no flood insurance required. At this price, you need to act fast because this home will not last long. Call today!

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: South Venice

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

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

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2110012001300140015001600170018001900200021002200Rent in $10512260

* 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
Venice Elementary School Primary Regular 593 44 8
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Venice Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 44
8
GreatSchools Rating

Venice Middle School

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 41
7
GreatSchools Rating

Venice High School

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

$207,000$253,000$230,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$849
Property Tax -$225
Property Insurance -$126
Property Management Fees -$129
CASH FLOW
$392

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.

$230,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.4%
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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$61,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6954$1,7205$1,750
$1,750
RENT COMPS ANALYSIS
  • 1065 Nantucket Rd Venice, FL 4
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.18
    •  
  • 3141 Odessa Rd Venice, FL 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1994
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.18
    •  
  • 503 Grant Rd Venice, FL 2
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1991
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.15
    •  
  • 756 Leeward Rd Venice, FL 3
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.22
    •  
  • 1264 Jamaica Rd Venice, FL 5
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1999
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.16
    •  
PROPERTY LISTING DETAILS
Carla Stiver, Pa
1.941.270.1460
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6115521
Last Updated: 12/24/2020
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