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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $151.92
- 2 Days on Market
- MLS # : A4486599
- Updated Date : 12/19/2020 at 13:55
CONSTRUCTION
- Beds : 5
- Floor Size : 2,962 sqft
- Baths : 3 full , 1 half
Listing Agent
Real Re Group Llc
Listing Agent's Description
Enthralling and Entrancing Home in North Port! Located on a sizeable cul-de-sac lot with lake views, this substantial 5BR/3.5BA, 2,962sqft (under air) abode captivates with chic curb appeal. Gorgeously built in 2006, the home has been meticulously maintained and has many updates, premium finishes, and modern conveniences. Once inside the grand entry, you are greeted by impressively high ceilings, waterproof/30-year life proof engineered laminate flooring, crown molding throughout, and an open floorplan. Continue to find a spacious kitchen featuring stainless-steel appliances, Corian countertops, ample wood cabinetry, pantry, and breakfast bar. Family gatherings in the living room will be memorable with soaring 24’ coffered ceilings, an above catwalk, and access to the screened in lanai! Entertain guests in your glamorous outdoor space which has custom pavers, an enclosed heated saltwater pool w/7’ deep-end, spa, sitting areas, and lake views. Serene nights are beautiful in the master bedroom featuring a sizeable closet, rope lighting, and an en suite w/soaking tub, separate shower, and dual sinks. Other features: 3-car garage, laundry room, separate office, NOT in flood zone, city water/sewer, 2 fully renovated upstairs bathrooms, 9’ ceilings throughout, dual A/C system, new A/C on 1st floor, sprinkler system from lake (FREE), deed restricted community ($280/quarter and $299/year fees), close to shopping, highways, and schools, and so much more! Schedule a private tour today!
SEE MORE
- 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: Cedar Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Cedar Grove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,510 |
| EXPENSES | Loan Payment | -$1,660 |
| Property Tax | -$553 | |
| Property Insurance | -$218 | |
| HOA | -$62 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$112
|
||
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.
$450,000
PROJECTED PRICE
$2,510
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.43% |
| Appreciation Year (1-5) | 6.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.71% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$125,000
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,500 |
| Loan Amount | $337,500 |
4.58
YEARS SAVED
$24,345
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,510
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$2,429
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
2553 Carnation Ct North Port, FL 2
- 5 beds 4 baths ∙ 2,962 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,962 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $2,510
- $0.85
-
1799 Scarlett Ave North Port, FL 1
- 5 beds 3 baths ∙ 2,801 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,801 Sqft ∙ Built 2005
LEASED 07/01/19- Rent
- Rent Per SQFT
- $2,300
- $0.82
PROPERTY LISTING DETAILS
1.941.661.5767
Real Re Group Llc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4486599
Last Updated: 12/19/2020
