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3071 S Salford Blvd S North Port, FL 34286

3 Beds 2 Baths 1,564 sqft Built 2004

$220,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $140.66
  • 4 Days on Market
  • MLS # : T3284611
  • Updated Date : 01/15/2021 at 15:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,564 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

PULL UP & TAKE A LOOK!! This well-maintained 3 BR, 2 BA, 2-car garage home features a spacious, split floor plan with an open family room. The interior of the home has a FRESH COAT of PAINT with a fabulous color. Owner’s suite has oversized walk-in closet, separate garden tub, shower, his/her sinks, and a water closet in the owner’s suite bath. There are sliding glass doors from the dining area, owner’s suite,and back guest bedroom that leads out to the covered oversized lanai and LARGE FENCED BACKYARD. The backyard has lots of room for a pool addition, fire pit or just a backyard barbeque. There's large, tiled flooring through the main living areas and Berber carpet in the bedrooms. The split bedroom plan is perfect for when family or friends come to visit. All bedrooms are generously sized and have plenty of natural light. There is an inside separate laundry room near garage. Walking distance to Blue Ridge Park and elementary school. Located within 5-15 min. of US Hwy 41, I-75, shopping, restaurants, local beaches, Warm Mineral Springs, North Port Aquatic Center, Towne Center Mall, multiple golf courses, boating, kayaking, fishing & more!

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
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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$764
Property Tax -$271
Property Insurance -$132
Property Management Fees -$129
CASH FLOW
$154

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.

$220,000

PROJECTED PRICE

$1,450

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$29,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,255

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,3503$1,4004$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 3071 S Salford Blvd S North Port, FL 4
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 2524 Briant St North Port, FL 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2007
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.63
    •  
  • 4873 Londel Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2006
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 3541 Gowanda Rd North Port, FL 3
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 4661 Zamita Ave North Port, FL 5
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1999
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Dominique Mccoy
1.386.566.3868
Homesmart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284611
Last Updated: 01/15/2021
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