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2104 Calusa Lakes Blvd Nokomis, FL 34275

3 Beds 2 Baths 1,884 sqft Built 2001

INVESTimate

$420,000

List Price

$2,180

$1,962 - $2,398

Rent Est.

$425,712  ( +1.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $222.93
  • 7 Days on Market
  • MLS # : A4475784
  • Updated Date : 08/25/2020 at 13:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Florida Home Team Llc

Listing Agent's Description

Custom built home with 3 bedrooms & 2 baths on a private lot! This great room floor plan has high ceilings, open dining area, kitchen with walk in pantry, & a breakfast nook overlooking the beautiful pool & lush tropical landscape. The master bedroom is spacious with sliders to the lanai, walk in closet, & ensuite bath with his & hers vanities, separate shower & tub. The home has been proactively replumbed, whole house water softener, & total storm protection including impact glass windows in the front. Front porch & lanai has a newer polyaspartic surface. Relax in the solar heated pool with a water fall feature. Calusa Lakes has low fees of $219 quarterly with no CDD, a guard at the front gate in the evenings, optional golf, a public restaurant for breakfast or lunches, tennis courts, & a myriad of activities & clubs for residents. Two stop lights from Nokomis beaches with free parking. Minutes to shopping, The Legacy Trail, & the new Sarasota Memorial Hospital under construction. Great location, fabulous curb appeal!

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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: Calusa Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k542k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Calusa Lakes

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2130014001500160017001800190020002100220023002400250026002700Rent in $12942734

* 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
Laurel Nokomis School Primary Regular 1,024 85 9
Laurel Nokomis School Middle Regular 1,024 85 9
Venice High School High Regular 1,941 96 8

Laurel Nokomis School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Laurel Nokomis School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,550
Property Tax -$361
Property Insurance -$152
HOA -$73
Property Management Fees -$80
CASH FLOW
-$35

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.

$420,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 1.36%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$30,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,823

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6954$2,0005$2,180
$2,180
RENT COMPS ANALYSIS
  • 2104 Calusa Lakes Blvd Nokomis, 5
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.16
    •  
  • 304 Myrtle Dr Nokomis, 1
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1985
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 217 Myrtle Ave Nokomis, 2
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 1983
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 2201 Lakewood Dr Nokomis, 3
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 403 Giovanni Dr Nokomis, 4
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Debbie Ask
1.941.726.0319
Florida Home Team Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475784
Last Updated: 08/25/2020
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