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1619 Geranium Ave North Port, FL 34288

3 Beds 2 Baths 1,333 sqft Built 1997

$224,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $168.72
  • 5 Days on Market
  • MLS # : U8107082
  • Updated Date : 12/11/2020 at 14:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,333 sqft
  • Baths : 2 full
Listing Agent

Realty Experts

Listing Agent's Description

Welcome home to your peaceful retreat away from the hectic city life but minutes from shopping, I75 and the Charlotte Harbor. This 3 bed 2 bath 2 car garage has a split floor plan, updated kitchen with beautifully done new granite countertops and white kitchen cabinets and easy to clean and maintain high end laminate flooring throughout. Walk out onto your back porch and enjoy the hottub, an evening campfire or simply the peace and quiet that this beautiful home provides. The home comes with a hardwired camera security system. As an added perk, a large fully enclosed chicken coop out the back yard will make the perfect home for your free range chickens!

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: 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
Toledo Blade Elementary School Primary Regular 742 56 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Toledo Blade Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 56
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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$830
Property Tax -$277
Property Insurance -$118
Property Management Fees -$129
CASH FLOW
$117

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.

$224,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$31,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,233

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,2853$1,4004$1,4705$1,475
$1,475
RENT COMPS ANALYSIS
  • 1619 Geranium Ave North Port, FL 4
    • 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.10
    •  
  • 1641 Justica St North Port, FL 1
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2005
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.84
    •  
  • 1383 S Chamberlain Blvd North Port, FL 2
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.92
    •  
  • 2773 Jeannin Dr North Port, FL 3
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2005
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 1530 Minneapolis Ave North Port, FL 5
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2003
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nathan Shirk
1.585.356.2197
Realty Experts
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107082
Last Updated: 12/11/2020
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