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2061 Nantucket Ter North Port, FL 34286

3 Beds 2 Baths 1,413 sqft Built 2000

$245,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $173.39
  • 7 Days on Market
  • MLS # : A4481809
  • Updated Date : 11/13/2020 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,413 sqft
  • Baths : 2 full
Listing Agent

Mapp Realty & Investment Co

Listing Agent's Description

One or more photo(s) has been virtually staged. Absolutely beautiful Pool Home centrally located in North Port. Close proximity to schools, shopping and restaurants. This home has a very open floor plan with tile or vinyl plank flooring throughout. Vaulted ceilings, indoor laundry, ceiling fans in every room, large covered area by the pool for entertaining. Caged pool with brick pavers and fence backyard. Fresh paint on the interior. Hurry this one won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$904
Property Tax -$301
Property Insurance -$123
Property Management Fees -$80
CASH FLOW
$242

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.

$245,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$47,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,434

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,5004$1,5995$1,650
$1,650
RENT COMPS ANALYSIS
  • 2061 Nantucket Ter North Port, FL 5
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
  • 2716 Vogler Ln North Port, FL 1
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2001
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.10
    •  
  • 2602 Ensenada Ln North Port, FL 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
    •  
  • 2680 Shalimar Ter North Port, FL 3
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 2283 Santonian Ter North Port, FL 4
    • 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
Paula Mapp
1.941.379.2448
Mapp Realty & Investment Co
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4481809
Last Updated: 11/13/2020
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