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3616 Spinner Ave North Port, FL 34286

3 Beds 2 Baths 1,212 sqft Built 2002

$209,700

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $173.02
  • 3 Days on Market
  • MLS # : C7438366
  • Updated Date : 02/06/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,212 sqft
  • Baths : 2 full
Listing Agent

Zwiercan Realty Inc

Listing Agent's Description

MOVE-IN READY! You must see this great 3 bedroom, 2 bath, 2 car garage home, completely furnished, and with storage shed included! This open floor plan home has an spacious living room with high ceilings and large windows, and dining room has french doors that will lead you out to the screened in lanai. Large backyard is completely fenced! Kitchen has plenty of cabinetry and counter space, large island, & stainless steel appliances. Master bedroom fits large furniture and master bath features walk-in shower with glass doors & walk-in closet. Guest bedrooms have ceiling fans. All you have to do is move right in! Seller is including all furniture, wall art, dishes & more! Close to schools & entertainment! Don't wait to long to schedule your private showing!

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
Lamarque Elementary School Primary Regular 805 65 7
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Lamarque Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 65
7
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
 

$188,730$230,670$209,700

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 -$728
Property Tax -$258
Property Insurance -$110
Property Management Fees -$129
CASH FLOW
$214

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.

$209,700

PROJECTED PRICE

$1,440

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$61,321

INVESTMENT

$61,321

Down Payment
$52,425
Rehab Estimate
$5,750
Closing Costs
$3,146

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$728

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,425
Loan Amount $157,275
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$35,333

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
  • $1.19

    LIST RENT PER SQFT
  • $1,224

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4404$1,4455$1,500
$1,500
RENT COMPS ANALYSIS
  • 3616 Spinner Ave North Port, FL 3
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.19
    •  
  • 4631 Trojan St North Port, FL 1
    • 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 2005
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.05
    •  
  • 4597 Badosa Rd North Port, FL 2
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2005
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 3805 N Cranberry Blvd North Port, FL 4
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.03
    •  
  • 3439 N Salford Blvd North Port, FL 5
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1994
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Yoan Rosell
1.941.387.4004
Zwiercan Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7438366
Last Updated: 02/06/2021
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