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435 Lake Of The Woods Dr Venice, FL 34293

3 Beds 2 Baths 1,992 sqft Built 1992

$335,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $168.17
  • 3 Days on Market
  • MLS # : N6113305
  • Updated Date : 01/09/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 2 full
Listing Agent

Kwee Huset Realty

Listing Agent's Description

This Lake of the Woods charmer is a small piece of heaven. It is a 3BR/2BA/2CG home with high, vaulted ceiling and open floor plan that make it warm and inviting to all. The large open kitchen with breakfast bar has plenty of space to prepare and enjoy those special family meals. The sky lights and windows allow an abundance of natural light. It has a nice bush-lined, private back yard with plenty of shade and space to play or enjoy some local birds singing like living in a tropical garden. The back patio with screened enclosure provides enjoyment all year round. Updated features are: - eco water system under the kitchen sink on 12/2020, and new hurricane garage door 8/10/2020. The house has been re-piped. It also has newer A/C, roof, doors and windows, hurricane shutter & water heater.

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: 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
 

$301,500$368,500$335,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,164
Property Tax -$306
Property Insurance -$158
HOA -$27
Property Management Fees -$129
CASH FLOW
$936

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.

$335,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.81%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

17.08

YEARS SAVED

$95,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,2954$2,5005$2,720
$2,720
RENT COMPS ANALYSIS
  • 435 Lake Of The Woods Dr Venice, FL 5
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.37
    •  
  • 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 3
    • 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
    •  
  • 175 Braemar Ave Venice, FL 4
    • 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 2001
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
Kwee Huset
1.941.716.3090
Kwee Huset Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6113305
Last Updated: 01/09/2021
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