Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2375 Ribble St North Port, FL 34291

3 Beds 2 Baths 1,230 sqft Built 1996

$229,500

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $186.59
  • 2 Days on Market
  • MLS # : N6114204
  • Updated Date : 03/06/2021 at 13:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,230 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Gold

Listing Agent's Description

A rare find at this price along the Sumter corridor! Upgraded kitchen and bathrooms, laminate/tile floors throughout, and fresh paint make your new space easy on the eyes, and the comprehensive Culligan filtration system and reverse osmosis keeps your water/ice tasting fresh. A newer roof and water heater as well as new washer and dryer make it easy on the wallet too. The front entry is enclosed, and the screened enclosure behind the home has a massive 700+ sq. ft. of additional space for entertaining, box gardening, a hot tub, or anything else your heart can conceive of. The drainage canal behind the house is hidden by vegetation and ensures that your property remains well-drained while creating a little space between adjacent properties for privacy. The garage has additional storage, the garage door is hurricane resistant, and did we mention that the house comes furnished?! Numerous parks are within a mile or two, golfing is nearby, and THE Gulf is only a short commute away - your quiet neighborhood is close to every conceivable amenity, including city services and interstate access. There's a lot to love and it won't last at this price, schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

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
Lamarque Elementary School Primary Regular 805 65 7
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Lamarque Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 65
7
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
 

$206,550$252,450$229,500

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$797
Property Tax -$282
Property Insurance -$111
Property Management Fees -$129
CASH FLOW
$60

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.

$229,500

PROJECTED PRICE

$1,380

PROJECTED RENT

0.60%

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$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,568

INVESTMENT

$66,568

Down Payment
$57,375
Rehab Estimate
$5,750
Closing Costs
$3,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$797

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,375
Loan Amount $172,125
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$21,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,390

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3803$1,4504$1,4755$1,645
$1,645
RENT COMPS ANALYSIS
  • 2375 Ribble St North Port, FL 2
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.12
    •  
  • 2540 Vedado St North Port, FL 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2004
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.07
    •  
  • 2600 Cliff St North Port, FL 3
    • 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1997
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
  • 1539 Tripoli St North Port, FL 4
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1986
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.16
    •  
  • 2849 Peake St North Port, FL 5
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.17
    •  
PROPERTY LISTING DETAILS
Ronald Fichtenberg
1.941.587.1257
Keller Williams Realty Gold
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6114204
Last Updated: 03/06/2021
BESbswy