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2169 Sparkle Ln North Port, FL 34286

4 Beds 2 Baths 2,153 sqft Built 2005

$359,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $167.16
  • 6 Days on Market
  • MLS # : C7436874
  • Updated Date : 01/13/2021 at 16:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,153 sqft
  • Baths : 2 full
Listing Agent

Dalton Wade, Inc.

Listing Agent's Description

Remodeled in 2018 and presented in impeccable condition, this is a stylish and elegant residence like no other. The layout is centered around an open-concept and light-filled great room, tall pitched ceiling and large windows that frame views over the backyard. Cooking and entertaining will be a joy in the remodeled kitchen with a 10-foot granite island, quality appliances and an abundance of storage. The comfortable 2,153sqft layout also boasts four good-size bedrooms and two baths along with an office for those who work from home. Granite vanities and tiled shower walls are on offer in the bathrooms while the long list of updates also includes new tile flooring throughout, air-conditioning (2016) and a whole-home reverse osmosis system. You are sure to love the good-size fully fenced yard with a saltwater heated pool and patio added in 2016. For absolute convenience and peace of mind, the two-car side-entry garage provides secure vehicle storage. Make your appointment to see this beauty in person or take advantage of the virtual walk through. This home is sure to impress!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

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
Atwater Elementary School Primary Regular 718 53 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Atwater Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 53
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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,250
Property Tax -$443
Property Insurance -$168
Property Management Fees -$129
CASH FLOW
$30

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.

$359,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.56%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$26,392

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6253$1,6504$1,6505$2,020
$2,020
RENT COMPS ANALYSIS
  • 2169 Sparkle Ln North Port, FL 5
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.94
    •  
  • 2673 Vizza Ln North Port, FL 1
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2006
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 3008 Sagebloom Ter North Port, FL 2
    • 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2006
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.72
    •  
  • 2831 Ashland Ln North Port, FL 3
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2007
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 3466 Mayflower Ter North Port, FL 4
    • 4 beds 2 baths ∙ 2,127 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,127 Sqft ∙ Built 2006
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
Joe Millslagle
1.941.815.3461
Dalton Wade, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7436874
Last Updated: 01/13/2021
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