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2316 Falcon Trace Ln Nokomis, FL 34275

3 Beds 2 Baths 1,702 sqft Built 1998

$359,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $211.46
  • 3 Days on Market
  • MLS # : N6112810
  • Updated Date : 11/27/2020 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent

Exit King Realty

Listing Agent's Description

These three words, “location, location, location”, will be yours when you make this beautiful Calusa Lakes home your own. This 3/2/2 has incredible curb appeal with its screened front entry and lush, Florida friendly, landscaping. The large foyer welcomes you into the home with a direct view of the living room which can easily handle larger furniture for your family and entertaining needs. A secluded, extended lanai, with triple slider, expands this space and is graced by mature landscaping for ultimate privacy. A dining room is available for your more formal occasions with ample space for friends and family. White cabinetry is found in the kitchen with tiled backsplash, Corian countertops, breakfast bar, and separate dining area, with sliders to the lanai, for everyday meals. RO system at the double, porcelain, sink is another upgrade. The master bedroom is fit for royalty with its wood laminate flooring, fully updated ensuite that includes a true walk-in shower, exquisite vanity, and private access to the lanai. The second bedroom is at the opposite end of the home and is graced by a beautiful clearstory window. The auxiliary bath has also been fully updated with enclosed tub/shower combo and granite topped vanity. The third bedroom, currently being used as a den, has a converted closet with Murphy bed, and allows for multiple use opportunities. Central vacuum, most house is tiled, fans, window treatments, and your very own, private, community pool make this home one you won’t want to miss. Calusa Lakes is a highly desirable area in Nokomis featuring a guard house, tennis courts, 18-hole regulation length semi-private golf course, and more activities than you can imagine. Close access to 75 and minutes to the many Gulf beaches this is a home that will give you all of the Florida lifestyle. Call today for your private tour.

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: Falcon Trace at Calusa Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Falcon Trace at Calusa Lakes

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12782642

* 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
Laurel Nokomis School Primary Regular 1,024 85 9
Laurel Nokomis School Middle Regular 1,024 85 9
Venice High School High Regular 1,941 96 8

Laurel Nokomis School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Laurel Nokomis School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Venice High School

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

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

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,328
Property Tax -$309
Property Insurance -$140
HOA -$198
Property Management Fees -$80
CASH FLOW
$55

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

$2,110

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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

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

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.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$33,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,813

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$2,0003$2,110
$2,110
RENT COMPS ANALYSIS
  • 2316 Falcon Trace Ln Nokomis, FL 3
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.24
    •  
  • 2201 Lakewood Dr Nokomis, FL 1
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 403 Giovanni Dr Nokomis, FL 2
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Bobby Lawrence
1.941.468.6294
Exit King Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112810
Last Updated: 11/27/2020
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