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2542 Silver Palm Rd North Port, FL 34288

3 Beds 2 Baths 1,750 sqft Built 2004

$375,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $214.29
  • 3 Days on Market
  • MLS # : D6115465
  • Updated Date : 12/19/2020 at 09:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,750 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

This lovely, meticulously maintained, 3 bedroom, 2 bath pool home offers one of greatest views of Charlotte Harbor National Golf Course at Bobcat Trail with a pond and the Club House as a backdrop. As you enter you will immediately notice the expansive wall of sliders to enjoy the pool view and beyond. The kitchen features granite countertops, an 8’ island, tiled backsplash, and a very large walk-in pantry. The home is tiled throughout, with newer wood-look plank tiles in 2 of the bedrooms. The master bedroom enjoys a slider to the pool and granite counter tops in the master bath, with a walk-in shower. The great room includes the very popular 90-degree slider and a tray ceiling with crown molding. The home is getting a new tile roof which should be completed by the end of January, 2021. Bobcat is conveniently located near I-75, US 41, shopping, restaurants (also one on site at the club), medical care, and two baseball spring training facilities – the Rays and Braves. Membership to the golf club is optional. You do not need to belong to the club to enjoy the other amenities that Bobcat has to offer, such as a community heated pool, a community center, tennis and pickle ball court, and fitness center.

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: Bobcat Trail

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k415k

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

Neighborhood: Bobcat Trail

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001200140016001800200022002400Rent in $9482505

* 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
Toledo Blade Elementary School Primary Regular 742 56 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Toledo Blade Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 56
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,384
Property Tax -$525
Property Insurance -$143
HOA -$8
Property Management Fees -$129
CASH FLOW
-$59

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.

$375,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 4.5%
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$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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$23,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,7004$1,7005$2,130
$2,130
RENT COMPS ANALYSIS
  • 2542 Silver Palm Rd North Port, FL 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.22
    •  
  • 1583 Nora North Port, FL 1
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2005
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 2090 Sadnet Ln North Port, FL 2
    • 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2016
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.81
    •  
  • 1503 Evangelina Ln North Port, FL 3
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2005
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 1618 Purple Ln North Port, FL 4
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2002
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ken Callahan
1.941.676.0901
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6115465
Last Updated: 12/19/2020
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