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2678 Mather Ln North Port, FL 34286

3 Beds 2 Baths 2,159 sqft Built 2006

$379,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $175.96
  • 2 Days on Market
  • MLS # : N6114200
  • Updated Date : 03/06/2021 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,159 sqft
  • Baths : 2 full
Listing Agent

Re/max Platinum Realty

Listing Agent's Description

OPEN HOUSE: Sunday 2/7 from 11am - 3pm. 3 bedrooms plus a Den / Heated pool / Split plan /2 baths / 2 car garage in SARASOTA COUNTY. 3,051 total square foot home - 2,159 under air. Large beautiful remodeled kitchen with gorgeous granite. Stainless appliances and farmhouse style sink with commercial style sprayer/faucet. Kitchen has a counter height bar. Dining is connected to the kitchen and opens up to the large living area. All new laminate flooring in the bedrooms and the den. Wood plank style ceramic flooring thru the main body of the home. French glass doors open to the pool and patio area from the living room and the master bedroom. Spacious Master Suite has double closets and a glass enclosed shower with separate soaking tub, private restroom and dual sinks. Nice wooded lot to the right of the home. NO HOA or CDD fees. Septic Tank has been inspected, pumped and serviced on 3/2/2021. Close to shopping and restaurants. 10 minutes to the mall. 10 minutes to I-75. 20 minutes to the exciting new Wellen Park and Braves Stadium. 25 minutes to Punta Gorda Airport. 30 minutes to Gulf Beaches. 30 minutes to Venice Island. 40 minutes to Siesta Key

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
Cranberry Elementary School Primary Regular 791 57 8
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Cranberry Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 57
8
GreatSchools Rating

Heron Creek Middle School

  • Education Level: Middle
  • # of students: 863
  • # of teachers: 64
6
GreatSchools Rating

North Port High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 119
6
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,320
Property Tax -$467
Property Insurance -$168
Property Management Fees -$129
CASH FLOW
-$144

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.

$379,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.51%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$13,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6504$1,7505$1,940
$1,940
RENT COMPS ANALYSIS
  • 2678 Mather Ln North Port, FL 5
    • 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,159 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.90
    •  
  • 2673 Vizza Ln North Port, FL 1
    • 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,956 Sqft ∙ Built 2006
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 2831 Ashland Ln North Port, FL 2
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2007
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 3466 Mayflower Ter North Port, FL 3
    • 4 beds 2 baths ∙ 2,127 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,127 Sqft ∙ Built 2006
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 1637 Saracen Ln North Port, FL 4
    • 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,184 Sqft ∙ Built 2006
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
PROPERTY LISTING DETAILS
Steve Martin Smith
1.941.894.9800
Re/max Platinum Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6114200
Last Updated: 03/06/2021
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