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4215 Tarpon Rd Venice, FL 34293

3 Beds 2 Baths 1,189 sqft Built 1960

$249,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1960
  • Price/Sqft : $209.42
  • 86 Days on Market
  • MLS # : N6111276
  • Updated Date : 11/07/2020 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,189 sqft
  • Baths : 2 full
Listing Agent

Era Preferred Prop Of Venice

Listing Agent's Description

Wonderful 3 bedroom 2 bath waterfront home in South Venice, Home has been updated with new tile flooring throughout and a beautiful new master bath. It also has a new kitchen and newer air , newer water heater and a new septic system in 2019. Setting is great with a park next door and lake views out of the large lanai and also from the living room and kitchen. Expansive yard with room for you to fish and kayak. Your family will enjoy this great neighborhood and close to everything. Call now to make your appointment and enjoy lakefront living. South Venice also has a water shuttle across the intercoastal to the private beach for your enjoyment for an annual fee.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

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

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2110012001300140015001600170018001900200021002200Rent in $10512260

* 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
Taylor Ranch Elementary School Primary Regular 630 44 8
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Taylor Ranch Elementary School

  • Education Level: Primary
  • # of students: 630
  • # of teachers: 44
8
GreatSchools Rating

Venice Middle School

  • Education Level: Middle
  • # of students: 543
  • # of teachers: 41
7
GreatSchools Rating

Venice High School

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

$224,100$273,900$249,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$919
Property Tax -$244
Property Insurance -$109
Property Management Fees -$80
CASH FLOW
$219

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.

$249,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$18k

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$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$46,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,347

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4753$1,5004$1,5125$1,570
$1,570
RENT COMPS ANALYSIS
  • 4215 Tarpon Rd Venice, FL 5
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.32
    •  
  • 1401 Horizon Rd Venice, FL 1
    • 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1962
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.29
    •  
  • 1075 Queen Rd Venice, FL 2
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1974
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.13
    •  
  • 410 Burke Rd Venice, FL 3
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1965
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 438 Belmont Ave Venice, FL 4
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1979
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,512
    • $1.05
    •  
PROPERTY LISTING DETAILS
Larry Higgins
1.941.586.0754
Era Preferred Prop Of Venice
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6111276
Last Updated: 11/07/2020
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