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3101 Junction St North Port, FL 34288

3 Beds 2 Baths 1,396 sqft Built 1997

$240,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $171.92
  • 6 Days on Market
  • MLS # : C7439063
  • Updated Date : 02/24/2021 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,396 sqft
  • Baths : 2 full
Listing Agent

Sun Realty

Listing Agent's Description

Make this move-in ready home yours. 3/2/2/ great room floor plan with a fenced back yard all the way around. Home has City Water. Walk through your front screened porch into the foyer where you're greeted by the massive open living room with a cathedral ceiling. This open floor plan allows you to enjoy all the extra space between the dining, living room and kitchen areas. There's Tile floor throughout the home except the living room where you have laminate wood flooring. In the Huge Kitchen there's Granite Countertops, a Breakfast bar, lots of cabinets, Stainless Steel Appliances, Plant Shelves and large ceramic tile flooring. At the "bump-out" in the kitchen you can utilize it as another area for an eating space or food preparation area while enjoying the views out the windows to the back yard.  There are "Bump Outs" in the master bedroom, kitchen and living room. The Master Bedroom also has (estimated 16x"16") ceramic tiles, the added space from the bump out, tray ceiling with lighted fan, a walk in closet and oversized step in closet. Some other great features are 5" Baseboards, arched windows which adds architectural flare and window treatments throughout. Both the second and third bedrooms have extended closets that are essentially the size of the rooms width. You have French doors that lead from the dining area into the screened lanai where you can enjoy the fenced in back yard. The back yard has an incredible woods view that lets you capture nature at its best. Enjoy watching the native Florida birds, squirrels and little critters from your yard. You have newly planted fruit trees such such as mango and lemon. The Garage has a Manabloc system, the garage floor is painted, you have a side garage access door and a hurricane strength garage door plus a pull down staircase into the attic. Close to shopping, entertainment and schools. Come take a look today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • One of the best cost-friendly American cities to do business (KPMG)

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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$834
Property Tax -$295
Property Insurance -$122
Property Management Fees -$129
CASH FLOW
$121

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.

$240,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.63%

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

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$27,691

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,291

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3753$1,4004$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 3101 Junction St North Port, FL 5
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 2163 S San Mateo Dr North Port, FL 1
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1997
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.05
    •  
  • 1156 Russellville St North Port, FL 2
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 2321 Firebrand Rd North Port, FL 3
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2005
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 5261 Janus Ave North Port, FL 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2006
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Shain Mclaughlin
1.941.623.7850
Sun Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7439063
Last Updated: 02/24/2021
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