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

2604 Strawberry Ter North Port, FL 34286

3 Beds 3 Baths 2,312 sqft Built 2006

INVESTimate

$299,400

List Price

$1,750

$1,575 - $1,925

Rent Est.

$329,071  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $129.50
  • 10 Days on Market
  • MLS # : U8094082
  • Updated Date : 08/25/2020 at 16:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,312 sqft
  • Baths : 2 full , 1 half
Listing Agent

Imagine Realty Llc

Listing Agent's Description

Beautiful pool home on an oversized corner lot. Pool, screen, and vinyl fence were installed in 2016. The salt water pool has spa seating, along with a landing to lounge on, as well as a heater and sand filter. The paint in the master bath is incomplete, as shown in the pictures. The lanai is a perfect place to host gatherings or to sit and enjoy the outdoors. See to believe this gorgeous home!!!

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
Woodland Middle School Middle Regular 857 50 7
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

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
 

$269,460$329,340$299,400

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,105
Property Tax -$369
Property Insurance -$178
Property Management Fees -$80
CASH FLOW
$18

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.

$299,400

PROJECTED PRICE

$1,750

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,091

INVESTMENT

$85,091

Down Payment
$74,850
Rehab Estimate
$5,750
Closing Costs
$4,491

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,850
Loan Amount $224,550
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$25,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7503$1,7504$1,7505$2,000
$2,000
RENT COMPS ANALYSIS
  • 2604 Strawberry Ter North Port, 4
    • 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,312 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 2525 Traverse Ave North Port, 1
    • 3 beds 2 baths ∙ 2,203 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,203 Sqft ∙ Built 2002
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 3641 Inagua Ave North Port, 2
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2006
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 1001 S Wapello St North Port, 3
    • 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 1993
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 4138 Pawtucket St North Port, 5
    • 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,350 Sqft ∙ Built 2005
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Carrie James
1.941.204.3505
Imagine Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8094082
Last Updated: 08/25/2020
BESbswy