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352 Dorchester Dr Venice, FL 34293

2 Beds 2 Baths 1,845 sqft Built 1987

$358,800

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $194.47
  • 5 Days on Market
  • MLS # : A4491737
  • Updated Date : 02/19/2021 at 11:20
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,845 sqft
  • Baths : 2 full
Listing Agent

Joseph Walter Realty Llc

Listing Agent's Description

Spacious home in Venice East with large rooms and open floor plan. Updated with new flooring (carpet and waterproof 20mm laminate), shaker wood cabinets, quartz counter tops, marble backsplash, paint, molding, baseboards, new whirlpool kitchen appliances and brushed nickel fixtures throughout. Crown molding in living room, dining room and kitchen. Virtually two master bedrooms. ADA compatible with 36” wide doors and roll-in shower. Open access to landscaped lanai offers an outdoor tropical feel. Quartz counter in lanai with pass through to kitchen. Custom walk-in closets in each bedroom with wooden shelves. Closet floor safe. Walk-in pantry with wooden shelves. New AC in 2016 with about 6 months left on warranty. No HOA or deed restrictions, though there is a voluntary Venice East Community Association with modest fees. You’ll immediately recognize the quality of this gem.

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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: Venice East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $96k297k

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

Neighborhood: Venice East

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001300140015001600170018001900200021002200Rent in $11662260

* 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
Taylor Ranch Elementary School Primary Regular 630 44 8
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Taylor Ranch Elementary School

  • Education Level: Primary
  • # of students: 630
  • # 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
 

$322,920$394,680$358,800

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,246
Property Tax -$333
Property Insurance -$149
Property Management Fees -$129
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.

$358,800

PROJECTED PRICE

$1,970

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 8.3%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,832

INVESTMENT

$100,832

Down Payment
$89,700
Rehab Estimate
$5,750
Closing Costs
$5,382

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,246

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,700
Loan Amount $269,100
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$35,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9703$2,0004$2,2955$2,350
$2,350
RENT COMPS ANALYSIS
  • 352 Dorchester Dr Venice, FL 2
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.07
    •  
  • 150 Algiers Dr Venice, FL 1
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 1971
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
  • 683 Silk Oak Dr Venice, FL 3
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 494 Lake Of The Woods Dr Venice, FL 4
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1995
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 417 Lake Of The Woods Dr Venice, FL 5
    • 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 1991
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
PROPERTY LISTING DETAILS
Scott Fader
1.248.390.8424
Joseph Walter Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491737
Last Updated: 02/19/2021
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