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1809 N San Mateo Dr North Port, FL 34288

3 Beds 2 Baths 2,044 sqft Built 2006

$339,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $165.85
  • 5 Days on Market
  • MLS # : N6112466
  • Updated Date : 10/31/2020 at 10:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Bright Realty

Listing Agent's Description

A rare find! Beautiful large Custom built Gulfstream (Sanibel model) concrete block Pool Home with 80ft on Snover Waterway Canal! 3 Bedrooms plus a Den/office with glass french doors. Oversized covered lanai offering a shaded and dry area for dining even on a rainy day. With over 2000sf of living space this home can accommodate a large family. Oversized master bedroom with deep tray ceiling and luxurious master bath with His and Hers sinks, floating garden tub and walk through Roman shower. Large lot is 80 x 125ft with an additional 20ft easement along the canal for long views and peace and tranquility with no homes to the north or on the sides. Large guest bath allows access from pool area for convenience. Plenty of room for outdoor activities, fire pit and pets. Home is built in 2006 of concrete block, comes complete with hurricane panels and is located in an X zone with No Flood insurance required. Recently updated with new Reverse Osmosis, AC unit, Well Pump and recently serviced septic system. No water bill, No HOA or CDD fee Excellent fresh water fishing For large mouth bass from back yard, beautiful aquatic birds and wildlife with no neighbors across the canal for plenty of privacy. Flooring updates needed. Three banana trees, Clementine tree and Avacado tree along with small garden started. Close to I75 for commuting, minutes to Sarasota, Fort Myers Airport and only a few minutes to Venice Island and the sugar sand beaches and barrier islands of SW Florida! North Port is highly desirable real estate with the new Atlanta Braves Training Stadium, Universities, New Wellen Park Downtown Shopping underway, State College of Florida and World Class Dining all within minutes.

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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: 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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,251
Property Tax -$417
Property Insurance -$161
Property Management Fees -$80
CASH FLOW
-$49

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.

$339,000

PROJECTED PRICE

$1,860

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

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$21,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,887

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8604$1,900
$1,900
RENT COMPS ANALYSIS
  • 1809 N San Mateo Dr North Port, FL 3
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.91
    •  
  • 1888 N San Mateo Dr North Port, FL 1
    • 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 1128 New London St North Port, FL 2
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2007
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 1622 Boswell St North Port, FL 4
    • 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 2007
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
PROPERTY LISTING DETAILS
Nancy Schweitzer
1.941.786.4200
Bright Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112466
Last Updated: 10/31/2020
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