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1399 Heath Ln North Port, FL 34286

3 Beds 2 Baths 2,487 sqft Built 2003

$379,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $152.39
  • 45 Days on Market
  • MLS # : C7437733
  • Updated Date : 03/20/2021 at 08:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,487 sqft
  • Baths : 2 full
Listing Agent

Era Advantage Realty, Inc.

Listing Agent's Description

Split Florida Style home on a large lot. Master bedroom and master bathroom on one side of the kitchen/dining/living area and 2 bedrooms and a full bathroom on the other side. Large family room and living room! Bonus room too with negotiable bar (water could be hooked up for a second wet bar)! Wet bar in the dining room. Custom kitchen cabinets! GE stainless steel appliances. Vinyl fenced in back yard with 3 gate entrances; one gate is double wide to get your large toys in. 780 sq foot detached garage/workshop with 220 electric, double doors with auto reverse safety sensors, each door frame opening is 8 foot high by 10 foot wide, walk up lighted attic for extra garage storage, fluorescent lights, working sink to wash up, epoxy flooring for slip prevention, garage AC handler, garage wired separate from house, service door to back yard/shed. 200 sq foot aluminum shed with electricity. Home and garage wired with security system/cameras. Whole house Reverse Osmosis System. Room to park your Boat/RV/Toys. Colorful trees and bushes when in season in the front yard. Lots of wildlife to be seen/heard in the trees on the west end of the property not fenced in. Concrete driveway. Great internet connection with Xfinity per seller. Information deemed reliable but not guaranteed.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Port Charlotte

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

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

Neighborhood: North Port Charlotte

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9362041

* 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
Atwater Elementary School Primary Regular 718 53 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Atwater Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 53
6
GreatSchools Rating

Woodland Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 50
7
GreatSchools Rating

North Port High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 119
6
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,316
Property Tax -$466
Property Insurance -$189
Property Management Fees -$129
CASH FLOW
$0

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.

$379,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$24,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$2,1004$2,2005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1399 Heath Ln North Port, FL 3
    • 3 beds 2 baths ∙ 2,487 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,487 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 2618 Margaret Ln North Port, FL 1
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2006
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 1637 Saracen Ln North Port, FL 2
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 4907 Alfa Ter North Port, FL 4
    • 4 beds 2 baths ∙ 2,556 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,556 Sqft ∙ Built 2000
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 1292 W Hillsborough Blvd North Port, FL 5
    • 3 beds 2 baths ∙ 2,584 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,584 Sqft ∙ Built 2005
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
Shelby Timp-sevak
1.941.504.0774
Era Advantage Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7437733
Last Updated: 03/20/2021
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