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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $114.81
- 5 Days on Market
- MLS # : N6112633
- Updated Date : 11/19/2020 at 12:06
CONSTRUCTION
- Beds : 4
- Floor Size : 2,343 sqft
- Baths : 3 full
Listing Agent
Paradise Realty Of Venice Inc
Listing Agent's Description
Great home on double lot close to shopping. Has a 1 bedroom in-law suite with kitchenette and separate entrance. Your pets will enjoy your fenced back yard. Large double garage and an utility shed add to lots of storage area. Great floor plan. At this price property won't last!
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: North Port Charlotte
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Port Charlotte
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$992 |
| Property Tax | -$331 | |
| Property Insurance | -$180 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
$77
|
||
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.
$269,000
PROJECTED PRICE
$1,660
PROJECTED RENT
0.62%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$77,035
LOAN DETAILS
$992
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $67,250 |
| Loan Amount | $201,750 |
7.42
YEARS SAVED
$29,216
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$0.71
LIST RENT PER SQFT
-
$1,734
COMP ESTIMATED VALUE -
$0.74
COMP AVG. RENT PER SQFT
Comps Range
-
2651 Colonade Ln North Port, FL 3
- 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $1,660
- $0.71
-
3623 Lubec Ave North Port, FL 1
- 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006
LEASED 09/30/19- Rent
- Rent Per SQFT
- $1,450
- $0.71
-
3008 Sagebloom Ter North Port, FL 2
- 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2006
LEASED 01/28/20- Rent
- Rent Per SQFT
- $1,625
- $0.72
-
2618 Margaret Ln North Port, FL 4
- 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2006
LEASED 09/03/19- Rent
- Rent Per SQFT
- $1,700
- $0.78
-
1001 S Wapello St North Port, FL 5
- 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,318 Sqft ∙ Built 1993
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,750
- $0.75
PROPERTY LISTING DETAILS
1.941.468.6344
Paradise Realty Of Venice Inc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: N6112633
Last Updated: 11/19/2020
