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449 Pinewood Lake Dr Venice, FL 34285

3 Beds 2 Baths 1,707 sqft Built 1996

$369,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $216.17
  • 3 Days on Market
  • MLS # : A4491913
  • Updated Date : 02/20/2021 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,707 sqft
  • Baths : 2 full
Listing Agent

Rosebay International Inc

Listing Agent's Description

Location location!! Home located on a fantastic lake and conservation lot located in Pelican Pointe Golf and Country Club which has been the #1 award winning community in Venice for over 20 years. It's location, amenities and presentation contribute to it's popularity. Enjoy your cup of coffee or cocktail from your large lanai overlooking the lake with its natural beauty and nature. Great for bird watchers. The home has an open floor plan with high ceilings and lots of windows that makes for great natural lighting. The one bedroom has desk built-ins and was used as an office. The kitchen is large with lots of cabinets and the breakfast bar overlooks the great room and outside views. Indoor laundry room has additional cabinets for storage. The garage is oversized so that it would accommodate additional storage or cabinets. The air conditioner is 2014. The LOW HOA fee includes 24-hour Guard Gate, social membership to all the facilities including tennis, pickleball, heated pool, fitness center, library, clubhouse and many social activities plus the grill and dining room. For golfers, membership is available as a separate fee and is not mandatory. The golfers have 27 holes of golf and a pro shop. The HOA also includes lawn care as well as cable with all HD channels, a DVR and high speed internet. The community is centrally located minutes to Venice Beach, Venice Downtown, shopping theatres, restaurants, highways, airports, and so much more. See attached tours for additional viewing.

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: Pelican Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k441k

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

Neighborhood: Pelican Pointe

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2140016001800200022002400260028003000Rent in $12943053

* 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
Garden Elementary School Primary Regular 649 43 6
Venice Middle School Middle Regular 543 41 7
Venice High School High Regular 1,941 96 8

Garden Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 43
6
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
 

$332,100$405,900$369,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$1,282
Property Tax -$342
Property Insurance -$141
HOA -$317
Property Management Fees -$129
CASH FLOW
$690

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.

$369,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.8%
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$30k$35k

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

14.33

YEARS SAVED

$86,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.7

    LIST RENT PER SQFT
  • $1,873

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7953$1,9754$2,2005$2,900
$2,900
RENT COMPS ANALYSIS
  • 449 Pinewood Lake Dr Venice, FL 5
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.70
    •  
  • 641 Constance Rd Venice, FL 1
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2014
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.13
    •  
  • 1514 Quail Lake Dr Venice, FL 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1989
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
  • 1765 Pomelo Dr Venice, FL 3
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2000
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.11
    •  
  • 1290 Covey Ct Venice, FL 4
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1989
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Nancy Maguire, Pa
1.941.650.0656
Rosebay International Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491913
Last Updated: 02/20/2021
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