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

114 Montelluna Dr North Venice, FL 34275

3 Beds 3 Baths 2,350 sqft Built 2003

$484,900

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $206.34
  • 4 Days on Market
  • MLS # : A4490577
  • Updated Date : 02/05/2021 at 11:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,350 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bright Realty

Listing Agent's Description

WELCOME HOME.OFFERED AT $484,900, VECEILIO MODEL.THIS HOME IS AN ORIGINAL WCI BUILT HOME WITH NATURAL GAS AND CATEGORY 5 IMPACT RESIDENT WINDOWS.MOVE IN READY WITH NEUTRAL TONES. 2352 SQFT WITH AN OVERSIZED 2.5 CAR GARAGE 619 SQFT.3 BEDROOMS WITH A DEN (OR POSSIBLE 4TH BEDROOM) 2.5 BATHS,EXTENDED LANAI WITH BRICK OVER A CONCRETE BASE.THE REAR FACES EAST TO AVOID THE HOT SUMMER AFTERNOON SUN.VERY PRIVATE WIDE OPEN VIEW OF THE GOLF COURSE.DOUBLE ENTRY DOORS WITH GLASS INSERTS.CROWN MOLDING IN EVERY ROOM INCLUDING THE CLOSETS.NO CARPETING. TILE AND WOOD FLOORING.GRANITE COUNTERTOPS IN THE KITCHEN AND 3 BATHROOMS.NEW PAVER DRIVEWAY.SELLER IS THE ORIGINAL OWNER

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: 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
Venice High School High Regular 1,941 96 8
Venice High School High Unknown NA

Venice High School

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

Venice High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$436,410$533,390$484,900

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$1,684
Property Tax -$959
Property Insurance -$180
HOA -$70
Property Management Fees -$129
CASH FLOW
-$153

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.

$484,900

PROJECTED PRICE

$2,870

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 2.4%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,684

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,913

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,045

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8003$1,9604$2,5005$2,870
$2,870
RENT COMPS ANALYSIS
  • 114 Montelluna Dr North Venice, FL 5
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $1.22
    •  
  • 341 Montelluna Dr North Venice, FL 1
    • 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 109 Montelluna Dr North Venice, FL 2
    • 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 2003
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 257 Martellago Dr North Venice, FL 3
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2006
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.90
    •  
  • 110 Rimini Way North Venice, FL 4
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2003
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
PROPERTY LISTING DETAILS
Troy Gager
1.941.234.6637
Bright Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490577
Last Updated: 02/05/2021
BESbswy