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2399 Florida Ter North Port, FL 34291

3 Beds 2 Baths 1,568 sqft Built 2006

$259,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $165.18
  • 3 Days on Market
  • MLS # : C7435717
  • Updated Date : 12/04/2020 at 12:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

Re/max Palm Realty

Listing Agent's Description

Beautiful Turn-Key Furnished 3/2/2 located in a well kept neighborhood. Pride of ownership in home as well as the neighborhood. This lovely home is furnished with high end furniture in every room. Open Concept, High / Vaulted Ceilings, Plant Shelves, Nooks and plenty of Storage Closets throughout. The Kitchen has Solid Surface Counter Tops, Maple Cabinets with decorative Cabinet Molding and Large Closet Pantry. The Living Room is spacious allowing room for entertaining guests and family. Large Laundry Room with Storage Closet leads to garage. Large Master Bedroom has Walk in closet, New Carpeting, en-suite with Ceramic Roman Walk -In Shower and Separate Garden Tub. Home has beautiful 16 inch straight set Ceramic Tile. The Large covered patio (16x12) has a beautiful wooded view and you can enjoy the gorgeous Florida Sunsets. Plenty of room for your designer pool. Whole house has gutters and has been a pet free and smoke free zone. Home was just professionally cleaned and is truly move-in ready. Home is not in a flood zone!!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

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
Glenallen Elementary School Primary Regular 697 55 5
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Glenallen Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 55
5
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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$956
Property Tax -$318
Property Insurance -$132
Property Management Fees -$129
CASH FLOW
-$85

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.

$259,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.56%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,607

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,335
1$1,3352$1,4453$1,4504$1,5455$1,600
$1,600
RENT COMPS ANALYSIS
  • 2399 Florida Ter North Port, FL 3
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 7137 Sablon Rd North Port, FL 1
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $0.95
    •  
  • 3587 Ponce De Leon Blvd North Port, FL 2
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.03
    •  
  • 3518 Ponce De Leon Blvd North Port, FL 4
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.10
    •  
  • 6670 Glacier Ave North Port, FL 5
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1997
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
PROPERTY LISTING DETAILS
James Scraper
1.941.527.9718
Re/max Palm Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435717
Last Updated: 12/04/2020
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