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2640 Salmista Ter North Port, FL 34286

3 Beds 2 Baths 1,236 sqft Built 1999

$268,800

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $217.48
  • 2 Days on Market
  • MLS # : C7445932
  • Updated Date : 07/13/2021 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,236 sqft
  • Baths : 2 full
Listing Agent

Kw Peace River Partners

Listing Agent's Description

Beautiful Move-in Ready 3 bedroom, 2 bath, 2 car garage home with large greenbelt in the back for extra privacy! This charming home features a living room with built-in TV entertainment center, an open kitchen with stainless steel appliances, pantry, cathedral ceilings and recess lighting, and a dining area with sliding doors that will lead you out to the screened-in lanai! Master bedroom has large walk-in closet and master bath comes with tiled walk-in shower and culture marble countertop. Guest bathroom has tub with combination shower. All bedrooms have ceiling fans. Entire home has large neutral tile flooring! Great location, close to shopping, schools with easy access to I-75 entrance. Sandy white beaches just a 20-minute drive! Make your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • One of the best cost-friendly American cities to do business (KPMG)

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
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
 

$241,920$295,680$268,800

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$934
Property Tax -$331
Property Insurance -$112
Property Management Fees -$129
CASH FLOW
-$15

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.

$268,800

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

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$12k

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$76,982

INVESTMENT

$76,982

Down Payment
$67,200
Rehab Estimate
$5,750
Closing Costs
$4,032

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,200
Loan Amount $201,600
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$16,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,289

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,4904$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 2640 Salmista Ter North Port, FL 3
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.21
    •  
  • 2220 Allegheny Ln North Port, FL 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.96
    •  
  • 2516 Wurtsmith Ln North Port, FL 2
    • 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,267 Sqft ∙ Built 2005
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 3193 Monday Ter North Port, FL 4
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 1918 Yankee Ter North Port, FL 5
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 2002
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Rhonda Gustitus
1.941.426.4394
Kw Peace River Partners
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7445932
Last Updated: 07/13/2021
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