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3880 Pinstar Ter North Port, FL 34287

4 Beds 4 Baths 2,494 sqft Built 1987

$350,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $140.34
  • 3 Days on Market
  • MLS # : C7437972
  • Updated Date : 01/29/2021 at 11:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,494 sqft
  • Baths : 4 full
Listing Agent

Re/max Anchor Of Marina Park

Listing Agent's Description

Wonderfully maintained 4-bedroom 4-bathroom pool home situated on an oversized lot. This 2,494 square foot home has the perfect spaces for the whole family including living room, dining room, family room a fourth bedroom that can easily transform into the perfect office space and a 18x18 block shed with electric and A/C. As soon as you enter your new home through the living/dining room you notice how open and bright this home is thanks to the cathedral ceilings, numerous windows, sliding glass doors out to the pool/lanai area from almost every room. You will appreciate the open and spacious kitchen featuring an abundance of counter and storage space, pantry closet, and a lovely dinette area with sliders out to the pool/lanai. Kitchen is also open to the family room. The first Master suite has beautiful wood laminate flooring, two walk-in closets and two bathrooms along with pool access. The second master suite makes a perfect in-law to utilize with its own outside entry and parking. Family and friends will appreciate the split bedroom design that showcases two additional bedrooms with a full guest bathroom. The "WOW" factor continues when you step out into your large screened-in lanai showcasing a sparkling swimming pool and lots of patio space for entertaining. Home also features attached 2-car garage, laundry room with utility sink and newer hot water heater. Let's not forget all the outdoor space along with shed that is perfect for storage or maybe your workshop. Located in a nice quite neighborhood in a young and growing North Port, Florida close to sandy beaches, entertainment, great schools, shopping/restaurants, I75/US41 and lots more!

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
Cranberry Elementary School Primary Regular 791 57 8
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Cranberry Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 57
8
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,216
Property Tax -$430
Property Insurance -$189
Property Management Fees -$129
CASH FLOW
$166

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.

$350,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.61%

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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$39,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,519

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,400
$2,400
RENT COMPS ANALYSIS
  • 3880 Pinstar Ter North Port, FL 1
    • 4 beds 4 baths ∙ 2,494 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,494 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.85
    •  
  • 4197 Allure Ln North Port, FL 2
    • 3 beds 3 baths ∙ 2,379 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,379 Sqft ∙ Built 1998
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.01
    •  
PROPERTY LISTING DETAILS
Christopher Grant
1.941.205.2004
Re/max Anchor Of Marina Park
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7437972
Last Updated: 01/29/2021
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