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215 Glen Oak Rd Venice, FL 34293

3 Beds 2 Baths 1,350 sqft Built 1962

$199,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $147.41
  • 6 Days on Market
  • MLS # : N6112591
  • Updated Date : 11/11/2020 at 10:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

Re/max Platinum Realty

Listing Agent's Description

If this home could talk, it would say, “I have great bones, I just need a little lovin’!!” Affordable rare Three Bedroom/Two Bath Home in Venice Gardens. Great Value. Features Central Water and Sewer, Spacious living area that could be opened up and transformed. Attached Garage, Fenced Backyard, Roof was replaced in 2006, Home has been re-piped, HVAC in 2019. Convenient Location. Close to the Community Pool, Perfect for Full Time Residents, Snow Birds and especially Handymen, Handywomen and Investors. This is your opportunity to be a part of our Venice Community and create your space just the way you want it.

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: Venice Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k297k

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

Neighborhood: Venice Gardens

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001300140015001600170018001900200021002200Rent in $11702260

* 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
Garden Elementary School Primary Regular 649 43 6
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Garden Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 43
6
GreatSchools Rating

Venice Middle School

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 41
7
GreatSchools Rating

Venice High School

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

$179,100$218,900$199,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$734
Property Tax -$194
Property Insurance -$119
Property Management Fees -$80
CASH FLOW
$503

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.

$199,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.4%
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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

16.5

YEARS SAVED

$63,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,445

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,6304$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 215 Glen Oak Rd Venice, FL 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.21
    •  
  • 410 Burke Rd Venice, FL 1
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 313 Glen Oak Rd Venice, FL 2
    • 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 1960
    property image
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 2551 Yucca Rd Venice, FL 4
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1971
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 2608 Oneida Rd Venice, FL 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1968
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sandi Tresh
1.941.586.1218
Re/max Platinum Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112591
Last Updated: 11/11/2020
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