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4145 Simkins Ave North Port, FL 34286

4 Beds 3 Baths 2,107 sqft Built 2018

INVESTimate

$279,900

List Price

$1,740

$1,566 - $1,914

Rent Est.

$307,638  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $132.84
  • 9 Days on Market
  • MLS # : A4475623
  • Updated Date : 08/24/2020 at 12:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,107 sqft
  • Baths : 3 full
Listing Agent

Keller Williams On The Water

Listing Agent's Description

Welcome home! This marvelous, split floor plan, 4 bedroom, 3 bathroom home is searching for its new owners. As you approach the front door you will find a custom garden swing perfect for sipping coffee watching the beautiful Florida sunrise. As you enter the front door, you are greeted with an abundance of natural light. The open concept floor plan offers plenty of room to entertain family and friends. The kitchen boasts wood cabinetry, a breakfast bar, and an eat-in nook. Need more space, not a problem. The full size dining room is merely steps away. The great room and dining room feature beautiful luxury vinyl flooring. Relax from the days stresses in the luxurious owner’s suite. The en-suite offers dual vanities, a walk-in closet and a linen closet. On the opposite side of the house bedroom’s two and three offer a Jack & Jill bathroom. A third bathroom and fourth bedroom are just down the hall. The home is wired with a transfer switch for your generator (generator not included). The large fenced backyard offers a private setting. Conveniently located near shopping, I-75, and the North Port Aquatic Center all that is missing is you and your treasures to call this home.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 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
Lamarque Elementary School Primary Regular 805 65 7
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Lamarque Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 65
7
GreatSchools Rating

Woodland Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 50
7
GreatSchools Rating

North Port High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 119
6
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,033
Property Tax -$344
Property Insurance -$165
Property Management Fees -$80
CASH FLOW
$118

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.

$279,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$35,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,7404$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 4145 Simkins Ave North Port, 3
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.83
    •  
  • 4793 Glordano Ave North Port, 1
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 2007
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 1817 N Salford Blvd North Port, 2
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 2005
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 3641 Inagua Ave North Port, 4
    • 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,287 Sqft ∙ Built 2006
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 4262 Glordano Ave North Port, 5
    • 4 beds 2 baths ∙ 2,234 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,234 Sqft ∙ Built 2004
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
PROPERTY LISTING DETAILS
Samantha Campbell
1.941.441.5131
Keller Williams On The Water
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475623
Last Updated: 08/24/2020
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