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11674 Parrotfish St Venice, FL 34292

3 Beds 2 Baths 1,649 sqft Built 2017

$329,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $200.06
  • 4 Days on Market
  • MLS # : A4483061
  • Updated Date : 11/06/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,649 sqft
  • Baths : 2 full
Listing Agent

Re/max Platinum Realty

Listing Agent's Description

Almost new 3 BR 2 bath home in mint condition. Many upgrades make this a meticulously cared for home. Open concept living, dining and kitchen is perfect for your family or entertaining. You will love the large expanded lanai for relaxing. All appliances included, even an extra fridge in the garage--so handy for holidays and for stocking up. This great home won't last. Furniture available under separate agreement.

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: East Venice Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k431k

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

Neighborhood: East Venice Farms

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12942642

* 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
Taylor Ranch Elementary School Primary Regular 630 44 8
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Taylor Ranch Elementary School

  • Education Level: Primary
  • # of students: 630
  • # 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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,217
Property Tax -$306
Property Insurance -$137
HOA -$259
Property Management Fees -$80
CASH FLOW
$191

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.

$329,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 5.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$45,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$2,1903$2,2504$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 11674 Parrotfish St Venice, FL 2
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.33
    •  
  • 2206 Chenille Ct Venice, FL 1
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2007
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 11725 Spotted Margay Ave Venice, FL 3
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 2013
    property image
    LEASED 07/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.35
    •  
  • 11742 Tempest Harbor Loop Venice, FL 4
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2006
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.34
    •  
  • 2148 Mesic Hammock Way Venice, FL 5
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2006
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.63
    •  
PROPERTY LISTING DETAILS
Fran Leroux
1.941.445.7744
Re/max Platinum Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483061
Last Updated: 11/06/2020
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