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2275 Rushmore St North Port, FL 34288

3 Beds 2 Baths 1,388 sqft Built 2006

$189,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $136.17
  • 3 Days on Market
  • MLS # : A4484270
  • Updated Date : 11/20/2020 at 09:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great opportunity to own this well maintained 3 bedroom/2 bath home in the growing city of North Port. Featuring an open floor plan with split bedrooms, this home is perfect for everyday living and/or having guests. Recently upgraded plank flooring throughout the main areas of the home and all bedrooms makes for easy maintenance and looks great! Enjoy the spacious master bedroom featuring an en suite bathroom and walk-in-closet. Exterior features include oversized driveway, rain gutters, hurricane shutters, coach lights and a screened in front entry. Located on a quiet street just south of Price Boulevard, convenient to I-75, US 41, shopping, dining, golf courses, the new Braves Spring Training Stadium, fishing, local beaches, and area attractions. Priced to sell and move-in-ready!

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: 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
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$697
Property Tax -$232
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
$399

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.

$189,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.81%

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

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$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

15.25

YEARS SAVED

$55,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,385

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2993$1,3004$1,4955$1,530
$1,530
RENT COMPS ANALYSIS
  • 2275 Rushmore St North Port, FL 5
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.10
    •  
  • 2614 S San Mateo Dr North Port, FL 1
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1999
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.99
    •  
  • 1722 Boswell St North Port, FL 2
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 2006
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.04
    •  
  • 2163 S San Mateo Dr North Port, FL 3
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1997
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.05
    •  
  • 2015 Switzerland Rd North Port, FL 4
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 2006
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
PROPERTY LISTING DETAILS
Shana Desiderato
1.347.266.2505
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484270
Last Updated: 11/20/2020
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