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2483 Frankfort Ct North Port, FL 34288

3 Beds 3 Baths 2,119 sqft Built 2004

$334,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $158.05
  • 3 Days on Market
  • MLS # : D6114835
  • Updated Date : 11/20/2020 at 17:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,119 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Alliance Group

Listing Agent's Description

A Must See Beauty! 3 bed/2-1/2 bath/2 car garage pool home! Mature Tropical landscaping and a screened entry welcome you home! Living/Dining room features a cathedral ceiling, updated laminate flooring (2 yr. old) , 8' pocket sliding glass doors to the lanai/pool area and a new ceiling fan. Kitchen has a closet pantry, oak cabinetry w/updated granite counter tops, breakfast bar, ceiling fan and tiled flooring. Appliances include: Samsung French door refrigerator, Frigidaire smooth top stove, Kenmore microwave and Kenmore Elite dishwasher. (all are under warranty through Sears till next April) Breakfast nook is just off the kitchen and has tiled flooring and sliding glass doors to the lanai. Adjoining Family room has a tray ceiling with a ceiling fan, laminate flooring and another set of sliding glass doors to the lanai. Spacious Master bedroom features a tray ceiling with a ceiling fan, laminate flooring, two walk in closets, black out blinds and French doors to the lanai. Master bath has double basin vanity w/cultured marble top with dressing table area, garden tub, new shower, privacy commode and tiled flooring. There's a pocket door to the guest wing for privacy. Bedroom #2(rear) also has laminate flooring, ceiling fan and wall closet, and Bedroom #3/Office has laminate flooring, ceiling fan and a wall closet. Inside laundry has tiled flooring and LG front load washer and dryer on pedestals. Two car garage has pull down stairs, screened over head door, new water heater, GENERAC GENERATOR with transfer switch, man door and automatic garage door opener. Lanai area has paver flooring and ceiling fan. Solar heated salt water pool has a mansard cage. 1/2 bath is located off the lanai and has tiled flooring and a vanity w/cultured marble top. 8x10 shed w/electric provides extra storage for all your gardening tools! Reverse Osmosis for the kitchen and ice maker and two water softeners for the rest of the home. New AC in 2016 and water heater in 2018. HURRICANE SHUTTERS FOR PEACE OF MIND!

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
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,236
Property Tax -$412
Property Insurance -$166
Property Management Fees -$80
CASH FLOW
$167

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.

$334,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.62%

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$1.2M$1.4M

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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$45,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,7003$1,7504$1,9505$2,060
$2,060
RENT COMPS ANALYSIS
  • 2483 Frankfort Ct North Port, FL 5
    • 3 beds 3 baths ∙ 2,119 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,119 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.97
    •  
  • 4242 Jody Ave North Port, FL 1
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
  • 2560 Verde Ter North Port, FL 2
    • 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2006
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 1637 Saracen Ln North Port, FL 3
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 2797 Royal Palm Dr North Port, FL 4
    • 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 2003
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kathy Damewood
1.941.474.5297
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6114835
Last Updated: 11/20/2020
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