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4251 Inverness St North Port, FL 34288

3 Beds 2 Baths 1,851 sqft Built 2007

INVESTimate

$239,000

List Price

$1,550

$1,395 - $1,705

Rent Est.

$262,685  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $129.12
  • 5 Days on Market
  • MLS # : G5032713
  • Updated Date : 08/25/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,851 sqft
  • Baths : 2 full
Listing Agent

Optima One Realty, Inc.

Listing Agent's Description

Beautiful 3 bedroom 2 bath home with a 2 car garage and a den, with the option to use den as a 4th bedroom! This Sarasota County home is located near both North Port’s and Port Charlotte’s shopping areas. Home includes a separate dining area off of entry as well as a breakfast bar design on center counter! Kitchen also includes stainless steel appliances. This split floor plan has a master suite with two separate walk-in closets! On the opposite side you will find 2 bedrooms and a bath with the den, or potential 4th bedroom! Interior flooring is tile throughout except bedrooms, with open floor plan of kitchen and living room for easy entertaining! Homeowner willing to leave security RING system with home. Front of home has curbed landscaped areas including along driveway. Check it out Today!

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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
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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,395$1,705$1,550

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$882
Property Tax -$299
Property Insurance -$150
Property Management Fees -$80
CASH FLOW
$140

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.

$239,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$34,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5504$1,5505$1,699
$1,699
RENT COMPS ANALYSIS
  • 4251 Inverness St North Port, 4
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 4242 Jody Ave North Port, 1
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
  • 4546 Maverick St North Port, 2
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2004
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 2794 Zodiac St North Port, 3
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 5387 Hader Rd North Port, 5
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2001
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.85
    •  
PROPERTY LISTING DETAILS
Aimee Stanley
1.239.220.7271
Optima One Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: G5032713
Last Updated: 08/25/2020
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