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

11373 Oceanspray Blvd Englewood, FL 34224

3 Beds 2 Baths 1,642 sqft Built 2005

$295,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $179.66
  • 2 Days on Market
  • MLS # : C7435124
  • Updated Date : 11/02/2020 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,642 sqft
  • Baths : 2 full
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

Beautiful and in pristine move-in condition ...this home is in a desirable area of Englewood and only a short distance to all amenities. From the minute you walk into this home, you will see the care and attention to every detail. The very private heated pool can be seen from the family room and kitchen. The open floor plan allows smooth transition from one room to another. The bright kitchen has a breakfast bar, pantry and a separate dinette area. The oversized master bedroom has a large walk-in closet,The Master Bathroom has a large vanity, and walk-in shower. The home also has an in-ground irrigation system. Florida landscaping all around the home completes the perfectly wonderful setting. Only 10 minutes from Englewood beach and 15 minutes from the mall and 20 minutes from Venice. This home has LOCATION, COMFORT & CONVENIENCE.

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: Section 65

NeighborhoodNIR Market*City2018Year2016 Q32019120k130k140k150k160k170k180k190kPrice in $119k199k

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

Neighborhood: Section 65

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21150120012501300135014001450150015501600165017001750Rent in $11481755

* 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,088
Property Tax -$353
Property Insurance -$134
Property Management Fees -$80
CASH FLOW
$195

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.

$295,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 10.1%
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$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$45,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,958

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,6503$1,6854$1,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 11373 Oceanspray Blvd Englewood, FL 4
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 7183 Sussex Ln Englewood, FL 1
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2014
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 110 Green Pine Park Rotonda West, FL 2
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2019
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 7092 Landrum Ct Port Charlotte, FL 3
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2006
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.05
    •  
  • 11082 Cheltenham Ave Englewood, FL 5
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2012
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.84
    •  
PROPERTY LISTING DETAILS
Ronald Brunelle
1.941.400.0725
Allison James Estates & Homes
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435124
Last Updated: 11/02/2020
BESbswy