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3700 Log Cabin Rd North Port, FL 34291

3 Beds 2 Baths 1,817 sqft Built 1993

$240,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $132.09
  • 3 Days on Market
  • MLS # : C7436429
  • Updated Date : 12/12/2020 at 00:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full
Listing Agent

American Real Estate Services

Listing Agent's Description

Desirable 3/2/2 pool home with spacious layout and split bedroom floor plan. Master suite provides private access to the covered lanai and features his and her closets, enclosed tub and tiled shower. Additional bedrooms have walk in closets and share a nicely appointed pool bathroom. Oversized corner lot with shed for additional storage and room to park RV or boat. May qualify for seller financing.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
Glenallen Elementary School Primary Regular 697 55 5
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Glenallen Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 55
5
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
 

$216,000$264,000$240,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$886
Property Tax -$322
Property Insurance -$147
Property Management Fees -$129
CASH FLOW
$597

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.

$240,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.87%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

16.33

YEARS SAVED

$75,593

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
  • $1.14

    LIST RENT PER SQFT
  • $1,367

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,4003$1,4004$1,4255$2,080
$2,080
RENT COMPS ANALYSIS
  • 3700 Log Cabin Rd North Port, FL 5
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.14
    •  
  • 7757 Lucinda Rd North Port, FL 1
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.66
    •  
  • 8338 Drolet Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2005
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.71
    •  
  • 4774 Brank St North Port, FL 3
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2006
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 7608 Paragon Rd North Port, FL 4
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 2005
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.83
    •  
PROPERTY LISTING DETAILS
Michelle Pietrzyk
1.941.391.5257
American Real Estate Services
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7436429
Last Updated: 12/12/2020
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