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2163 Silver Palm Rd North Port, FL 34288

3 Beds 2 Baths 2,321 sqft Built 2001

$479,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $206.38
  • 10 Days on Market
  • MLS # : A4490698
  • Updated Date : 02/10/2021 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,321 sqft
  • Baths : 2 full
Listing Agent

The Sarasota Group

Listing Agent's Description

TurnKey- Over $100,000 in recent upgrades. New roof, central air, stainless appliances, granite, carpets, freshly painted, etc. Custom built, decorator furnished home in gated community of Bobcat Trail at Charlotte Harbor National Golf Club. Grand entrance, leaded glass double doors, paver walks, lanai, & driveway. Great room with octagonal 12 ft lighted tray ceiling, crown molding, built-in entertainment wall, surround sound, and fireplace. Disappearing walls of sliding glass open to huge lanai with heated swimming pool and waterfalls. Open floor plan has dining room with lighted tray ceiling, crown molding & wet bar. Breakfast area has large aquarium window with pool view. Kitchen features new stainless appliances, pull out shelves, glass doors, raised dishwasher, under cabinet lighting, gas range, refrigerator w/ ice and water, microwave, & pantry cabinets. Master suite with lighted tray ceiling opens to the pool with disappearing walls of glass. Master bath with Roman shower, Jacuzzi tub, dual vanities, footlights, huge walk in closet & dressing area. Laundry has washer, dryer, sink, built in cabinets, desk. Oversize 2.5 car garage w/ sink, cabinets, side entry golf cart door. Split floor plan, 2 guest bedrooms, bath, office or den, 9 ceiling fans, 10 pocket doors, 2 niches, Manabloc plumbing, no see-um screens, irrigation, separate well, humidistat, attic storage, intercom, lighted plant shelves, Sentricom, safe room, alarm, hurricane film windows & shutters. Optional golf membership.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bobcat Trail

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k415k

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

Neighborhood: Bobcat Trail

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001200140016001800200022002400Rent in $9482505

* 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
Toledo Blade Elementary School Primary Regular 742 56 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Toledo Blade Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 56
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
 

$431,100$526,900$479,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,664
Property Tax -$589
Property Insurance -$178
HOA -$8
Property Management Fees -$129
CASH FLOW
-$58

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.

$479,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 4.5%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,664

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$26,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,967

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7854$1,8505$2,510
$2,510
RENT COMPS ANALYSIS
  • 2163 Silver Palm Rd North Port, FL 5
    • 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.08
    •  
  • 2560 Verde Ter North Port, FL 1
    • 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2006
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 1637 Saracen Ln North Port, FL 2
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 1406 Glenan Rd North Port, FL 3
    • 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2006
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.85
    •  
  • 2241 Boxwood St North Port, FL 4
    • 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2001
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Gary Brey
1.941.376.7575
The Sarasota Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490698
Last Updated: 02/10/2021
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