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3335 Royal Palm Dr North Port, FL 34288

3 Beds 2 Baths 2,010 sqft Built 2002

INVESTimate

$349,900

List Price

$2,080

$1,872 - $2,288

Rent Est.

$365,471  ( +4.45%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $174.08
  • 3 Days on Market
  • MLS # : D6113556
  • Updated Date : 08/25/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,010 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

GORGEOUS VIEW! This lovely 3 bedroom, 2 bath home located in Bobcat Trail home of the Charlotte Harbor National Golf Course has been immaculately maintained and is situated so you can enjoy expansive views of fairways 3, 4, and 5 which also includes two ponds This is one of Bobcat’s most beautiful views! This home features hardwood and wood look porcelain tile throughout. Other updates to the home are new HVAC system in 2018, pool pump and electric heater in 2016, tile and new faucets in master bath 2017, and washer replaced in 2017. Exterior was painted in 2019 and new exterior lighting was added at that time. The living/dining area includes a tray ceiling, crown molding with the ever popular 90-degree disappearing slider which opens to the large lanai/pool area and beautiful sun rises. Two of the three bedrooms feature walk-in closets and the third bedroom closet includes a Murphy bed with lots of storage. The master bedroom has been recently painted and has sliders that open to the lanai/pool area. Membership to the golf course is optional. You do not need to belong to the club to enjoy the many other amenities that Bobcat has to offer, such as a large heated community pool, tennis courts, pickle ball, a fitness facility, and a community center where activities can be found every day. Bobcat is conveniently located to both I-75 and US-41, shopping, medical care, restaurants, and just minutes from the beach, and the Ray’s and Brave’s spring training stadiums. The CDD amount of $1839 is included in the taxes as shown in the MLS listing.

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Bobcat Trail

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k415k

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

Neighborhood: Bobcat Trail

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001200140016001800200022002400Rent in $9482505

* 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
Toledo Blade Elementary School Primary Regular 742 56 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Toledo Blade Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 56
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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,291
Property Tax -$523
Property Insurance -$159
HOA -$8
Property Management Fees -$80
CASH FLOW
$19

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.

$349,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 4.45%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$28,403

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,6754$1,7005$2,080
$2,080
RENT COMPS ANALYSIS
  • 3335 Royal Palm Dr North Port, 5
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.03
    •  
  • 2984 Phoenix Palm Terrace North Port, 1
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.68
    •  
  • 1583 Nora North Port, 2
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2005
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 5134 Lovett Rd North Port, 3
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2002
    LEASED 03/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.80
    •  
  • 2560 Verde Ter North Port, 4
    • 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2006
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ken Callahan
1.941.676.0901
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6113556
Last Updated: 08/25/2020
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