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3657 Junction St North Port, FL 34288

4 Beds 2 Baths 1,994 sqft Built 1998

$260,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $130.39
  • 3 Days on Market
  • MLS # : C7439328
  • Updated Date : 03/06/2021 at 16:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent

Re/max Palm Realty

Listing Agent's Description

PLEASE ENJOY THE 3D INTERACTIVE VIRTURAL TOUR ASSOCIATED WITH THIS PROPERTY: Situated on an oversize corner parcel, this expansive residence offers FOUR bedrooms, two bathrooms and a two car garage. Features include a 2019 A/C system, 2017 roof, 2017 water heater, 2016 re-plumb, CITY WATER, double door front entry, high ceilings, ceramic tile throughout, fresh neutral colored paint, all kitchen appliances, walk-in closet, garden tub, dual vanity, tiled showers, plant shelves, split bedroom floorplan, TV alcove, pantry and interior laundry room. Enjoy overlooking the spacious backyard from the comfort of the massive 15x18 covered screened lanai. Central location close to shopping, dining, boating waters, golf and Florida beaches.

SEE MORE

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: 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
Atwater Elementary School Primary Regular 718 53 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Atwater Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 53
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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$903
Property Tax -$320
Property Insurance -$158
Property Management Fees -$129
CASH FLOW
$210

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.

$260,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.66%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$37,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6994$1,7205$1,850
$1,850
RENT COMPS ANALYSIS
  • 3657 Junction St North Port, FL 4
    • 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.86
    •  
  • 4546 Maverick St North Port, FL 1
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 2794 Zodiac St North Port, FL 2
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 5387 Hader Rd North Port, FL 3
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2001
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.85
    •  
  • 3516 Winer Rd North Port, FL 5
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2007
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Mark Soravilla
1.941.468.1417
Re/max Palm Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7439328
Last Updated: 03/06/2021
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