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4350 Palisades Ave North Port, FL 34287

3 Beds 2 Baths 1,723 sqft Built 2018

$279,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $162.45
  • 5 Days on Market
  • MLS # : U8103240
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,723 sqft
  • Baths : 2 full
Listing Agent

Jack Keller Inc

Listing Agent's Description

1 Owner Custom Built home in a friendly neighborhood is waiting to be yours! This contemporary farmhouse style home has 3 bedrooms + an office with an open concept kitchen, dining, and living room with plenty of extra space to run around if needed. The office is equipped with custom cabinetry and desks on opposite sides of the room perfect for working from home. The kitchen has a large white farmhouse style sink, butcher block countertops and slate appliances included. Washer and dryer can be found in the laundry room with a mud sink and more custom added cabinetry. All windows are impact grade. This home is just a walk away from the recently renovated Blue Bridge Park that has a beautiful playground, pavilion, canoe dock and canal. So call today to schedule a showing before you miss out!

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: 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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,033
Property Tax -$344
Property Insurance -$142
Property Management Fees -$80
CASH FLOW
-$89

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.

$279,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.54%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,593

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,521

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5104$1,6495$1,650
$1,650
RENT COMPS ANALYSIS
  • 4350 Palisades Ave North Port, FL 3
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.88
    •  
  • 3541 Gowanda Rd North Port, FL 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2006
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 4661 Zamita Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,671 Sqft ∙ Built 1999
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 4435 Windsong Ave North Port, FL 4
    • 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,893 Sqft ∙ Built 2016
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.87
    •  
  • 3131 Lopinto St North Port, FL 5
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2006
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jack Keller
1.727.586.1497
Jack Keller Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103240
Last Updated: 10/31/2020
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