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3205 Ginsa Ter North Port, FL 34291

3 Beds 2 Baths 1,392 sqft Built 2003

$200,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $143.68
  • 4 Days on Market
  • MLS # : N6112613
  • Updated Date : 11/13/2020 at 23:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Florida Realty

Listing Agent's Description

$25,000 price improvement!!! Very Motivated seller!!! This charming 3 bedroom, 2 full bath open concept home located in North Port Fl. NO HOA NO DEED RESTRICTIONS. Close to area beaches, shops, schools and dining. Large living room with vaulted ceilings, open concept, master bedroom with a walk in closet and private bath. Kitchen boasts stainless steel appliances and a large island, perfect for entertaining guests. Bonus room could be used as an office or a den. Large private fenced in yard. Brand New A/C unit just installed also brand new water pump. Will not last long bring all offers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Glenallen Elementary School Primary Regular 697 55 5
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Glenallen Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 55
5
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$738
Property Tax -$277
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
$164

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.

$200,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.69%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$33,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4453$1,4954$1,5005$1,545
$1,545
RENT COMPS ANALYSIS
  • 3205 Ginsa Ter North Port, FL 1
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.99
    •  
  • 3828 Duar Ter North Port, FL 2
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.03
    •  
  • 6870 Abady Ln North Port, FL 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1995
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.07
    •  
  • 3532 Duar Ter North Port, FL 4
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2003
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
  • 3518 Ponce De Leon Blvd North Port, FL 5
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.10
    •  
PROPERTY LISTING DETAILS
David Eramo
1.518.410.5612
Berkshire Hathaway Homeservices Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112613
Last Updated: 11/13/2020
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