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PROPERTY INFO
FACTS
- Single Family
- Built In 1992
- Price/Sqft : $178.45
- 2 Days on Market
- MLS # : N6113556
- Updated Date : 01/30/2021 at 22:38
CONSTRUCTION
- Beds : 3
- Floor Size : 1,429 sqft
- Baths : 2 full
Listing Agent
Pelican Realty Corp
Listing Agent's Description
This is a rare opportunity to purchase a newer South Venice home with county water! This property features 3 bedrooms, 2 bathrooms, a bonus room/sunroom and a 2 car garage. There is plenty of storage space including 2 closets in the master bath as well as an outdoor storage/shed. You will enjoy this cozy home year round with wood burning fireplace warming you up on colder winter days. This house is located on a quiet street with mature oak trees that make this place even more magical. Don’t wait and schedule a showing today!
SEE MORE
- #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: 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 | -$886 |
| Property Tax | -$250 | |
| Property Insurance | -$124 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$312
|
||
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.
$255,000
PROJECTED PRICE
$1,700
PROJECTED RENT
0.67%
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
$73,325
LOAN DETAILS
$886
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
12.33
YEARS SAVED
$48,870
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 -
$1.19
LIST RENT PER SQFT
-
$1,751
COMP ESTIMATED VALUE -
$1.23
COMP AVG. RENT PER SQFT
Comps Range
-
396 S Quincy Rd Venice, FL 2
- 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1992
![property image]()
- Rent
- Rent Per SQFT
- $1,700
- $1.19
-
756 Leeward Rd Venice, FL 1
- 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992
![property image]()
LEASED 02/18/20- Rent
- Rent Per SQFT
- $1,695
- $1.22
-
1264 Jamaica Rd Venice, FL 3
- 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1999
![property image]()
LEASED 04/18/20- Rent
- Rent Per SQFT
- $1,750
- $1.16
-
3110 Siesta Dr Venice, FL 4
- 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1999
![property image]()
LEASED 12/21/20- Rent
- Rent Per SQFT
- $1,800
- $1.28
-
291 Crane Rd Venice, FL 5
- 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,619 Sqft ∙ Built 2002
![property image]()
LEASED 06/03/20- Rent
- Rent Per SQFT
- $2,000
- $1.24
PROPERTY LISTING DETAILS
1.941.544.8195
Pelican Realty Corp
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: N6113556
Last Updated: 01/30/2021
