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4226 Lubec Ave North Port, FL 34287

3 Beds 2 Baths 1,224 sqft Built 2000

$200,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $163.40
  • 4 Days on Market
  • MLS # : C7435446
  • Updated Date : 11/13/2020 at 02:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,224 sqft
  • Baths : 2 full
Listing Agent

Century 21 Aztec & Associates

Listing Agent's Description

Become a homeowner at the Brazen Banyan Bungalow, a 3 bedroom, 2 bath split floor plan Florida home with some picturesque charm that won't break the bank! Enter into a sun soaked living room with the kitchen overseeing things. There are high ceilings and tile flooring (set on the diagonal) throughout most the home, Walk in shower in the master bedroom with ample room for linen storage. Two more additonal bedrooms on the other wing of the property for additional living space - a true split floor plan! New Roof (2020) and Newer AC (2017), and there are many fruit trees and vegetables growing cultivated by the previous occupant. Located in the heart of North Port Florida, It is minutes away from shopping stores and grocery stores and I-75 for commuting. You'll need to see this one quickly!

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: 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
Cranberry Elementary School Primary Regular 791 57 8
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Cranberry Elementary School

  • Education Level: Primary
  • # of students: 791
  • # of teachers: 57
8
GreatSchools Rating

Heron Creek Middle School

  • Education Level: Middle
  • # of students: 863
  • # of teachers: 64
6
GreatSchools Rating

North Port High School

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

$180,000$220,000$200,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$738
Property Tax -$246
Property Insurance -$111
Property Management Fees -$80
CASH FLOW
$115

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.

$200,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$28,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,282

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2503$1,2904$1,4755$1,500
$1,500
RENT COMPS ANALYSIS
  • 4226 Lubec Ave North Port, FL 3
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $1.05
    •  
  • 2033 Nantucket Ter North Port, FL 1
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 2000
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 3733 Lorton Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1997
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 1539 Tripoli St North Port, FL 4
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1986
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.16
    •  
  • 1345 Gerona Ter North Port, FL 5
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2018
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
PROPERTY LISTING DETAILS
Roger Watson
1.941.479.1531
Century 21 Aztec & Associates
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435446
Last Updated: 11/13/2020
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