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158 Palazzo Ct North Venice, FL 34275

3 Beds 2 Baths 2,044 sqft Built 2011

$419,900

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $205.43
  • 7 Days on Market
  • MLS # : N6113649
  • Updated Date : 02/08/2021 at 19:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Palmerhouse Properties

Listing Agent's Description

GOLF COURSE AND LAKE VIEWS! * SITUATED IN A SECURED COMMUNITY * A GREAT VALUE * BEAUTIFULLY MAINTAINED WCI BUILT FLORENCIA MODEL * 2,000 sq. ft. of OPEN AIRY LIVING~ Relax and enjoy the golf view from your ETEXENDED SCREENED PAVERED LANAI plus enjoy SOOTHING COLOREFUL SUNSETS with its Western Exposure. Three bedrooms, two baths with a SPACIOUS GREAT ROOM featuring sliders to the lanai, custom tray and volume ceilings plus neutral tile flooring. A kitchen with beautiful wood cabinetry, granite counters, stainless steel appliances and a large island and breakfast nook. The house features a large great room and formal dining area. The master suite includes tray ceilings, his and her closets, a large bath with garden tub, a walk in shower and dual sinks. Third bedroom could be used as a home office or den. Also here you have a roomy 2 car garage. Perfect home for the person who wants a FANTASTIC VIEW OF THE GOLF COURSE and a PRIVATE SOOTHING WATER VIEW! Situated in The Venetian Golf & River Club a GATED SECURED GOLFING COMMUNITY in North Venice, 10 minutes from gulf beaches & shopping. The River Club features dining. 70-acre nature park nestled along the Myakka River. Full fitness center and aerobics studio, lap pool, resort style pool & cabana bar. 6 Har-Tru courts plus tennis center. An 18-hole championship golf course.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$377,910$461,890$419,900

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,458
Property Tax -$831
Property Insurance -$161
HOA -$74
Property Management Fees -$129
CASH FLOW
$67

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.

$419,900

PROJECTED PRICE

$2,720

PROJECTED RENT

0.65%

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$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$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$28,912

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,8003$1,9604$2,0005$2,720
$2,720
RENT COMPS ANALYSIS
  • 158 Palazzo Ct North Venice, FL 5
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.33
    •  
  • 105 Bellini Ct North Venice, FL 1
    • 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,114 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $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
    •  
  • 205 Cipriani Way North Venice, FL 4
    • 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 2005
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Colleen Stone
1.610.703.1369
Palmerhouse Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6113649
Last Updated: 02/08/2021
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