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422 Lake Of The Woods Dr Venice, FL 34293

3 Beds 2 Baths 2,190 sqft Built 1992

$343,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $157.03
  • 2 Days on Market
  • MLS # : W7831963
  • Updated Date : 03/21/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,190 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Wonderful 3 bedroom, 2 bath home in Lake of the Woods! This home has a large open concept kitchen and family room. The kitchen boasts ample cabinet and counter space, with a pantry, and bar overlooking the family room. The primary bedroom has a wonderful en suite bath with double sinks, garden tub and walk-in shower. Outside you will enjoy the screened patio overlooking the large yard. Located in Venice, this home is convenient to shops, restaurants, and I-75 for an easy commute to Tampa, Sarasota and surrounding areas, as well as the beautiful gulf beaches.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lake of the Woods

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Lake of the Woods

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12942642

* 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
 

$309,510$378,290$343,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,195
Property Tax -$314
Property Insurance -$170
HOA -$27
Property Management Fees -$129
CASH FLOW
$445

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.

$343,900

PROJECTED PRICE

$2,280

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$96,884

INVESTMENT

$96,884

Down Payment
$85,975
Rehab Estimate
$5,750
Closing Costs
$5,159

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,195

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,975
Loan Amount $257,925
See What Happens When You Reinvest Cash Flow

12.5

YEARS SAVED

$67,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,305

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,2804$2,2955$2,350
$2,350
RENT COMPS ANALYSIS
  • 422 Lake Of The Woods Dr Venice, FL 3
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.04
    •  
  • 683 Silk Oak Dr Venice, FL 1
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2001
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 4325 Wordsworth Way Venice, FL 2
    • 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1996
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
  • 494 Lake Of The Woods Dr Venice, FL 4
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1995
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 417 Lake Of The Woods Dr Venice, FL 5
    • 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 1991
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
PROPERTY LISTING DETAILS
Annie O'sullivan
1.813.531.1151
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7831963
Last Updated: 03/21/2021
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