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3512 Nemo Ave North Port, FL 34287

4 Beds 2 Baths 1,732 sqft Built 2012

$269,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $155.83
  • 3 Days on Market
  • MLS # : N6113728
  • Updated Date : 02/05/2021 at 15:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,732 sqft
  • Baths : 2 full
Listing Agent

Premier Sothebys Intl Realty

Listing Agent's Description

Move-in ready! Built in 2012, Tiled floors throughout and a freshly painted interior. Updated kitchen with quartz countertops and new cabinets. Enjoy a tiled, over-sized, 247 sq. ft. covered lanai. Floor plan includes four bedrooms, two bathrooms, dining room, laundry room, open kitchen and bonus room-family room that has many different possibilities. The master en-suite offers walk-in closets and dual sinks. Great location with shopping, dining and many Gulf beaches nearby.

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
Cranberry Elementary School Primary Regular 791 57 8
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Cranberry Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 57
8
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$937
Property Tax -$332
Property Insurance -$142
Property Management Fees -$129
CASH FLOW
$29

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.

$269,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.58%

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-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$20,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5704$1,6005$1,850
$1,850
RENT COMPS ANALYSIS
  • 3512 Nemo Ave North Port, FL 3
    • 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.91
    •  
  • 4661 Zamita Ave North Port, FL 1
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1999
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 2680 Shalimar Ter North Port, FL 2
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 1139 Petronia St North Port, FL 4
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 1233 Andalusia St North Port, FL 5
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
PROPERTY LISTING DETAILS
Keri Allen
1.941.716.4420
Premier Sothebys Intl Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6113728
Last Updated: 02/05/2021
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