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2172 S Cranberry Blvd North Port, FL 34286

3 Beds 2 Baths 1,856 sqft Built 1991

$246,500

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $132.81
  • 4 Days on Market
  • MLS # : C7435301
  • Updated Date : 11/06/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Re/max Palm Pcs

Listing Agent's Description

Lovely 3 bedroom 2 bath home, that is move in ready. This home has a split floor plan with a large living room and dining area. The guest bedrooms are off the Family room. The guest bedrooms have large walk in closets. The master bedroom has 2 walk in closets. The house has new Pergo flooring as well as tile in the kitchen and bathrooms. The kitchen has stainless appliances with granite counters and a beautiful back splash. There are multiply sliding doors that access the large lanai. The house has been painted, cleaned and is ready for the next family.

SEE MORE

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
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
 

$221,850$271,150$246,500

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$909
Property Tax -$303
Property Insurance -$150
Property Management Fees -$80
CASH FLOW
$78

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.

$246,500

PROJECTED PRICE

$1,520

PROJECTED RENT

0.62%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,073

INVESTMENT

$71,073

Down Payment
$61,625
Rehab Estimate
$5,750
Closing Costs
$3,698

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$909

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,625
Loan Amount $184,875
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$27,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,5003$1,5204$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 2172 S Cranberry Blvd North Port, FL 3
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.82
    •  
  • 3585 Oasis Ave North Port, FL 1
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2006
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.76
    •  
  • 2673 Vizza Ln North Port, FL 2
    • 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
    •  
  • 2740 Begonia Ter North Port, FL 4
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 2002
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 2831 Ashland Ln North Port, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Margaret Mardis
1.863.990.1877
Re/max Palm Pcs
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435301
Last Updated: 11/06/2020
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