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403 Rubens Dr Nokomis, FL 34275

3 Beds 2 Baths 1,881 sqft Built 1980

$330,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $175.44
  • 3 Days on Market
  • MLS # : A4487743
  • Updated Date : 01/15/2021 at 18:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,881 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

Highly desirable location in Sorrento East! This charming home backs to Oscar Sherer State Park providing a front row seat to all the birds and wildlife that inhabit the park. New A/C in 2016 and new roof in 2014. High impact windows were installed in 2013. Re-Piped in 2009. Split floor plan with open kitchen faces north offering an expansive park view. Large lanai was rescreened in 2020. This quaint community is conveniently located between Venice and Sarasota, close proximity to Nokomis Beach, schools, shopping and only 11 miles to the world famous Siesta Key Beach. Come claim your piece of paradise!

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: Sorrento East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k355k

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

Neighborhood: Sorrento East

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001300140015001600170018001900200021002200230024002500Rent in $11792550

* 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
Laurel Nokomis School Primary Regular 1,024 85 9
Laurel Nokomis School Middle Regular 1,024 85 9
Venice High School High Regular 1,941 96 8

Laurel Nokomis School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Laurel Nokomis School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,146
Property Tax -$284
Property Insurance -$151
HOA -$90
Property Management Fees -$129
CASH FLOW
$300

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.

$330,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 6.9%
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

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$52,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,970

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6993$1,8504$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 403 Rubens Dr Nokomis, FL 5
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
  • 2201 Lakewood Dr Nokomis, FL 1
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1990
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 122 Van Dyck Dr Nokomis, FL 2
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1973
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.01
    •  
  • 323 Rubens Dr Nokomis, FL 3
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1977
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 403 Giovanni Dr Nokomis, FL 4
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Lisa Harris
1.707.337.2615
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487743
Last Updated: 01/15/2021
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