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315 Ginger Rd Venice, FL 34293

3 Beds 2 Baths 1,300 sqft Built 1960

$290,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $223.08
  • 2 Days on Market
  • MLS # : A4482761
  • Updated Date : 11/07/2020 at 21:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Nexthome Kd Premier Realty

Listing Agent's Description

Here it is, this lovely well cared for, move in ready 3 bedroom 2 bathroom home is waiting for you! The split floorplan features an open concept main living area which is light and bright. The home has tile throughout. Step outside the back door into a tropical oasis with a screened in Tikki bar and hot tub, all on a brand new deck! Perfect for relaxing after a long day or for entertaining with friends and family. This South Venice home boasts a newer roof, new HVAC, tankless water heater, out door shower, tool shed, parking for a boat or an RV and fenced yard. Conveniently located just minutes walk to the legacy trail and intercoastal waterway. This listing consists of 2 individual parcels being sold together. On the second parcel is a large, air conditioned shed/office, perfect for a home office. There are no HOA fees or restrictions in this neighborhood to worry about. Call today to schedule a private showing.

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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: South Venice

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

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

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2110012001300140015001600170018001900200021002200Rent in $10512260

* 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
Venice Elementary School Primary Regular 593 44 8
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Venice Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 44
8
GreatSchools Rating

Venice Middle School

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 41
7
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,070
Property Tax -$284
Property Insurance -$116
Property Management Fees -$80
CASH FLOW
-$110

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.

$290,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.4%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,443

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4403$1,5004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 315 Ginger Rd Venice, FL 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.11
    •  
  • 551 Crocus Rd Venice, FL 1
    • 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,128 Sqft ∙ Built 1968
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.24
    •  
  • 410 Burke Rd Venice, FL 3
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 2551 Yucca Rd Venice, FL 4
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1971
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 2608 Oneida Rd Venice, FL 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1968
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Victoria Campbell
1.352.446.4758
Nexthome Kd Premier Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482761
Last Updated: 11/07/2020
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