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3101 Upland St North Port, FL 34286

3 Beds 2 Baths 1,574 sqft Built 2002

$249,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $158.20
  • 2 Days on Market
  • MLS # : D6114656
  • Updated Date : 11/03/2020 at 00:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Gold

Listing Agent's Description

POOL HOME for under $250,000! NEW flooring throughout your new home! No carpet in this home! NEW Refrigerator! NEW Stove! NEW Dishwasher! NEW Microwave! Newly painted inside! Imagine sitting beside your pool enjoying the Florida lifestyle. This home is situated between three vacant lots. There is a city owned buffer behind this property which provides you additional privacy. North Port is a booming market close to beaches, ball parks, shopping and fishing. Make your appointment today to see this amazing opportunity before it is gone!

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
Lamarque Elementary School Primary Regular 805 65 7
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Lamarque Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 65
7
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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$919
Property Tax -$306
Property Insurance -$133
Property Management Fees -$80
CASH FLOW
$113

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.

$249,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.62%

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,370

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,4503$1,5004$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 3101 Upland St North Port, FL 5
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 3805 N Cranberry Blvd North Port, FL 1
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.03
    •  
  • 2441 Chipley Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2004
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 3605 Caballero Ave North Port, FL 3
    • 3 beds 4 baths ∙ 1,602 Sqft ∙ Built 2006 3 beds 4 baths ∙ 1,602 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 2474 Saybrook Ave North Port, FL 4
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2005
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.00
    •  
PROPERTY LISTING DETAILS
Chris Lowery
1.941.564.9580
Keller Williams Realty Gold
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6114656
Last Updated: 11/03/2020
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