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11191 Grafton Ave Englewood, FL 34224

3 Beds 2 Baths 1,640 sqft Built 2018

INVESTimate

$279,900

List Price

$1,540

$1,386 - $1,694

Rent Est.

$303,747  ( +8.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $170.67
  • 4 Days on Market
  • MLS # : A4476102
  • Updated Date : 08/23/2020 at 14:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 2 full
Listing Agent

Icon Premium Realty Llc

Listing Agent's Description

This is your chance to purchase a 2 year new Hanover Model Home** PRICED BELOW** new construction prices. This home features a spacious split floor with 3 bedrooms, two baths and a two car garage. Vaulted ceilings in the main living area, and porcelain tile throughout. The kitchen boasts GRANITE countertops, stainless steel appliances, a large pantry and breakfast bar. The cabinets are all wood with the soft close feature. A large walk in closet in the master bedroom and dual sinks and a large shower in the Master Bathroom. Bedroom one and two share a perfectly located shower and tub combination bath. Off the great room through the sliding glass doors, step out to an over sized paver pool deck with a salt water, heated, pool and screened lanai. The concrete pool features a top of the line Pebble-Tec finish. The property is located on a quite street. The yard is beautifully landscaped and fully irrigated. Within minutes of beaches, shopping, restaurants, and great fishing.

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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: Section 63

NeighborhoodNIR Market*City2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k350k

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

Neighborhood: Section 63

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21300135014001450150015501600165017001750Rent in $12861755

* 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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,033
Property Tax -$344
Property Insurance -$133
Property Management Fees -$80
CASH FLOW
-$50

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.

$279,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 8.52%
Maintenance Year (1-5) 8.00%
Vacancy 3.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$16,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,365

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$1,3953$1,4154$1,5405$1,625
$1,625
RENT COMPS ANALYSIS
  • 11191 Grafton Ave Englewood, 4
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.94
    •  
  • 11353 Willmington Blvd Port Charlotte, 1
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2007
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.57
    •  
  • 10379 Grail Ave Englewood, 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2018
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 10397 Grail Ave Englewood, 3
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2018
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.88
    •  
  • 10371 Grail Ave Englewood, 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kathy White
1.941.225.2122
Icon Premium Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4476102
Last Updated: 08/23/2020
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