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2060 Nantucket Ter North Port, FL 34286

3 Beds 2 Baths 1,413 sqft Built 2000

INVESTimate

$194,900

List Price

$1,440

$1,296 - $1,584

Rent Est.

$214,215  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $137.93
  • 2 Days on Market
  • MLS # : C7432415
  • Updated Date : 08/25/2020 at 23:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,413 sqft
  • Baths : 2 full
Listing Agent

Real Estate Mainstream

Listing Agent's Description

Offering 3 bedroom, 2 bathroom home! As you walk through the doors you will notice the excellent layout to entertain your guests with a large great room that is open from the kitchen! Sitting on a quiet street in a great location that is close to the highway, shopping, schools, restaurants and the beach! Schedule a showing today!

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: 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
Cranberry Elementary School Primary Regular 791 57 8
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Cranberry Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 57
8
GreatSchools Rating

Heron Creek Middle School

  • Education Level: Middle
  • # of students: 863
  • # of teachers: 64
6
GreatSchools Rating

North Port High School

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

$175,410$214,390$194,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

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$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$719
Property Tax -$240
Property Insurance -$123
Property Management Fees -$80
CASH FLOW
$279

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.

$194,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

12.92

YEARS SAVED

$46,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,311

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3503$1,3704$1,4405$1,599
$1,599
RENT COMPS ANALYSIS
  • 2060 Nantucket Ter North Port, 4
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.02
    •  
  • 2641 Yamada Ln North Port, 1
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.85
    •  
  • 2602 Ensenada Ln North Port, 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 2417 Wurtsmith Ln North Port, 3
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.85
    •  
  • 2283 Santonian Ter North Port, 5
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2006
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.13
    •  
PROPERTY LISTING DETAILS
Agnesa Margitich
1.941.202.9324
Real Estate Mainstream
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7432415
Last Updated: 08/25/2020
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