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2319 Falcon Trace Ln Nokomis, FL 34275

3 Beds 2 Baths 1,635 sqft Built 1997

$345,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $211.01
  • 6 Days on Market
  • MLS # : A4484879
  • Updated Date : 01/06/2021 at 20:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,635 sqft
  • Baths : 2 full
Listing Agent

Generous Property

Listing Agent's Description

Bright, sunny and maintenance free! This 3 bedroom 2 bath Calusa Lakes home is situated on a corner lot and a short stroll to the community pool. BRAND NEW ROOF in 2019 and 3 ton condensing unit in 2008. The third bedroom is also ideal for an office space, den or pull-out couch for guests. The master bathroom has a wonderful walk-in shower space and double closets in the master bedroom. No carpet in the property makes for easy clean up. Plenty of room for entertaining on the lanai and loads of space to place your lounge chairs for soaking in the Florida sun. This home has several glass sliding doors that allow the natural sunlight to cascade inside and also has hurricane shutters for extra protection. No CDD fee here along with no mandatory social or golf membership. Close to Nokomis and Venice beach and world-renowned Siesta Key beach. Short distance to Legacy Trail for bike riding or walking and you will enjoy the boutique shops on Venice Island. Numerous restaurants to choose from to the delight of various palates. BE SURE TO VIEW THE AERIAL & 3D TOUR.

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: 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,198
Property Tax -$297
Property Insurance -$136
HOA -$79
Property Management Fees -$129
CASH FLOW
$350

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.

$345,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.63%

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$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$59,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$2,0004$2,190
$2,190
RENT COMPS ANALYSIS
  • 2319 Falcon Trace Ln Nokomis, FL 4
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.34
    •  
  • 2201 Lakewood Dr Nokomis, FL 1
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 323 Rubens Dr Nokomis, FL 2
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1977
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 403 Giovanni Dr Nokomis, FL 3
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Joyce Sacco
1.941.445.3937
Generous Property
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484879
Last Updated: 01/06/2021
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