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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Venice
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$81,275
LOAN DETAILS
$1,052
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
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
-
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
1.941.306.9311
Coldwell Banker Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: N6112917
Last Updated: 12/18/2020
