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2845 Nw 26th Terrace Cape Coral, FL 33993

4 Beds 2 Baths 1,617 sqft Built 2021

$224,900

List Price

$1,745

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $139.08
  • 3 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,617 sqft
  • Baths : 2 full
Listing Agent

Tobin

Listing Agent's Description

Estimated completion date April-June 2021

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Burnt Store

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $96k286k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Burnt Store

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q213001400150016001700180019002000Rent in $12022045

* 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
Gulf Elementary School Primary Regular 1,008 68 8
Challenger Middle School Middle Regular 1,088 65 8
North Fort Myers High School High Magnet 1,673 85 7

Gulf Elementary School

  • Education Level: Primary
  • # of students: 1,008
  • # of teachers: 68
8
GreatSchools Rating

Challenger Middle School

  • Education Level: Middle
  • # of students: 1,088
  • # of teachers: 65
8
GreatSchools Rating

North Fort Myers High School

  • Education Level: High
  • # of students: 1,673
  • # of teachers: 85
7
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,571$1,920$1,745

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,745
EXPENSES Loan Payment -$830
Property Tax -$300
Property Insurance -$132
HOA -$42
Property Management Fees -$129
CASH FLOW
$313

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 7% of earned rent to cover both maintenance and periods of vacancy.

$224,900

PROJECTED PRICE

$1,745

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 5.00%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
Vacancy 4.20%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$59,599

INVESTMENT

$59,599

Down Payment
$56,225
Rehab Estimate
$0
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

14.5

YEARS SAVED

$62,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
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