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4178 Heaton Ter North Port, FL 34286

3 Beds 2 Baths 1,350 sqft Built 2013

$235,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $174.07
  • 2 Days on Market
  • MLS # : C7436422
  • Updated Date : 12/12/2020 at 12:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Island Life

Listing Agent's Description

Beautiful 2013 built and lovingly cared for home now available in North Port. This home has loads of curb appeal. You will immediately notice the extensive landscaping with concrete curbing, irrigation, seamless gutters, and vinyl fencing. This freshly painted 3-bedroom 2-bathroom home has plank tile floors throughout the main living area and new carpet in the bedrooms. The master suite features a large walk-in closet and a private door to the screened-in porch. The master bath has a walk-in shower. There are two more bedrooms and a second bath for your guest’s convenience. The cathedral ceilings throughout give the home a bright and spacious feeling. Walk from the living room out to the screened porch and enjoy the evenings overlooking the beautiful landscaped and private backyard with a private wooded view in back. There is also a nice brick paver patio and pergola with a table and chairs and a grill. This home is perfect for first time home buyers, retirees, or seasonal residents. At only 7 years old this home has low maintenance costs, hurricane protection, no HOA, No CDD, No Flood Insurance and is in move in condition. North Port is a bedroom community located in SW Florida convenient to I-75 and many local area beaches. With essential amenities such as many new shopping and dining establishments, convenient to the Atlanta Braves and Tampa Bay Rays spring training facilities and a brand-new state of the art water park as well. North Port was voted as one of the top cities in which to live and raise a family.

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
Atwater Elementary School Primary Regular 718 53 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Atwater Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 53
6
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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$867
Property Tax -$289
Property Insurance -$119
Property Management Fees -$129
CASH FLOW
-$34

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.

$235,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,377

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4003$1,4504$1,4755$1,495
$1,495
RENT COMPS ANALYSIS
  • 4178 Heaton Ter North Port, FL 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.01
    •  
  • 5392 Talisman Ter North Port, FL 2
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 1789 Raywood Ave North Port, FL 3
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2001
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 4227 Pine Cone Ter North Port, FL 4
    • 4 beds 2 baths ∙ 1,465 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,465 Sqft ∙ Built 2004
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.01
    •  
  • 1460 Heath Ln North Port, FL 5
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2005
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
PROPERTY LISTING DETAILS
Traci Creighton
1.941.451.9419
Keller Williams Island Life
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7436422
Last Updated: 12/12/2020
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