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2970 Industry Ave North Port, FL 34288

3 Beds 3 Baths 2,132 sqft Built 2006

$270,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $126.64
  • 2 Days on Market
  • MLS # : D6114651
  • Updated Date : 11/02/2020 at 18:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,132 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Gold

Listing Agent's Description

Quality Custom Built Home by Walker Homes 4 Bedroom 2 1/2 Baths over 2000 square feet under air, this home easily accommodate a large family. The half bath is off of lanai ready for a pool! Double Door Entry leads you into large Great Room with pocket sliders to large lanai area. Gourmet Kitchen with wood cabinets, hard surface counter tops, Stainless steel appliances, and crown molding. Large Master Bedroom with tray ceilings, garden tub with walk in shower, and double sinks. Three of the 4 bedrooms have walk in closets. Home features split floor plan excellent for entertaining Friends and Family. . Great location near shopping, restaurants, golfing, beaches, and I-75. CALL AND MAKE YOUR APPOINTMENT TODAY!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Atwater Elementary School Primary Regular 718 53 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Atwater Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 53
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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$996
Property Tax -$332
Property Insurance -$167
Property Management Fees -$80
CASH FLOW
$205

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.

$270,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$44,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,7004$1,7805$1,900
$1,900
RENT COMPS ANALYSIS
  • 2970 Industry Ave North Port, FL 4
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.83
    •  
  • 1560 Maile St North Port, FL 1
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 2794 Zodiac St North Port, FL 2
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 2338 Kelsey Ct North Port, FL 3
    • 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 1622 Boswell St North Port, FL 5
    • 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 2007
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
PROPERTY LISTING DETAILS
Laura Boyd
1.765.490.5626
Keller Williams Realty Gold
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6114651
Last Updated: 11/02/2020
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