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1227 Paradise Way Venice, FL 34285

3 Beds 2 Baths 1,567 sqft Built 1978

INVESTimate

$279,900

List Price

$1,730

$1,557 - $1,903

Rent Est.

$301,732  ( +7.80%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $178.62
  • 3 Days on Market
  • MLS # : N6111567
  • Updated Date : 08/24/2020 at 14:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

WELCOME to PINEBROOK SOUTH! **CLICK the LINK for the 3-D VIRTUAL TOUR** 3 BEDROOMS, 2 BATHS, 2 CAR GARAGE in one of the most sought after neighborhoods in Venice. Very well maintained, neat & clean and ready to move into. This home has a SPLIT-BEDROOM LAYOUT which is great for privacy and actually gives you two Master suites with generous walk-in closets. The KITCHEN was updated in 2018 with new cabinets and wonderful quartz counters. There are multiple sliders that lead you out to the screened in Lanai, positioned perfectly for those Florida Sunsets. PLANTATION SHUTTERS in most rooms, Very nice curb appeal, this home has been well cared for! HOA fees are low and include the use of the Community Clubhouse, Heated Pool, Kayak & Canoe BOAT LAUNCH on Curry Creek that leads you right into the open water of the Gulf of Mexico. Get ready for sunny Florida living! Located minutes to Venice Downtown, Venice Beach, shopping, restaurants, theatres, I-75, Tampa & Ft. Myers airports. This is the place to be!

SEE MORE

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: Pinebrook South

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k366k

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

Neighborhood: Pinebrook South

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001300140015001600170018001900200021002200Rent in $11792260

* 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
Garden Elementary School Primary Regular 649 43 6
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Garden Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 43
6
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
 

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

PURCHASE PRICE

$1,557$1,903$1,730

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,033
Property Tax -$303
Property Insurance -$132
HOA -$31
Property Management Fees -$80
CASH FLOW
$151

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.

$279,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.80%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
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 35% 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

8.83

YEARS SAVED

$39,778

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5503$1,6004$1,7305$1,800
$1,800
RENT COMPS ANALYSIS
  • 1227 Paradise Way Venice, 4
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.10
    •  
  • 1044 Roberta St Venice, 1
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1960
    property image
    LEASED 04/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 720 Pineland Ave Venice, 2
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 711 Aljohn St Nokomis, 3
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1980
    property image
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.25
    •  
  • 1028 Laurel Ave Venice, 5
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1998
    property image
    LEASED 04/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.21
    •  
PROPERTY LISTING DETAILS
Sandy Sibley
1.941.525.4377
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6111567
Last Updated: 08/24/2020
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