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380 Harvard Rd Venice, FL 34293

3 Beds 2 Baths 2,107 sqft Built 1978

$285,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $135.26
  • 4 Days on Market
  • MLS # : N6112917
  • Updated Date : 12/18/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,107 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

South Venice Pool Home. Spacious 3 bed, 2 bath, home with 2107 under air sq/ft. Oversized fenced in lot. Room off the back living area could easily be a 4th bedroom or office space. Newer Windows. Exterior has just been painted. New hot water heater. Kitchen features granite countertops and newer appliances. Home could use some TLC but has lots of potential and solid bones. Quiet neighborhood is just minutes from Venice and Manasota Beaches, downtown Venice, restaurants, shopping, hospitals. A short trip out to I-75. No CDD fees or restrictions make this homesite perfect for someone who is looking for somewhere to park their RV, boat, or toys.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

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

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2110012001300140015001600170018001900200021002200Rent in $10512260

* 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
Englewood Elementary School Primary Regular 524 35 8
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Englewood Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 35
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,052
Property Tax -$279
Property Insurance -$165
Property Management Fees -$129
CASH FLOW
$75

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.

$285,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.4%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$32,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6353$1,7004$1,795
$1,795
RENT COMPS ANALYSIS
  • 380 Harvard Rd Venice, FL 3
    • 3 beds 2 baths ∙ 2,107 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,107 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 1468 Roosevelt Dr Venice, FL 1
    • 3 beds 2 baths ∙ 2,075 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,075 Sqft ∙ Built 1992
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 116 Palmetto Dr Venice, FL 2
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1989
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.84
    •  
  • 107 Hourglass Dr Venice, FL 4
    • 3 beds 2 baths ∙ 2,348 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,348 Sqft ∙ Built 1988
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
PROPERTY LISTING DETAILS
Enya Overholser
1.941.306.9311
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112917
Last Updated: 12/18/2020
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