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4554 Clarke St North Port, FL 34286

3 Beds 2 Baths 1,381 sqft Built 2005

$253,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $183.20
  • 2 Days on Market
  • MLS # : C7435358
  • Updated Date : 11/08/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,381 sqft
  • Baths : 2 full
Listing Agent

Kw Peace River Partners

Listing Agent's Description

Here you have a METICULOUSLY MAINTAINED 3 bed, 2 bath, 2 car garage home located in a wonderful section of North Port! The love for this home can be seen by the many upgrades that have been done! ENERGY EFFICIENT – All lights have been converted to LED. The windows have been upgraded to PGT HURRICANE IMPACT which helps reduce heat, sound, and save $$$! Blown-in insulation was added above the garage, front porch, and lanai. The stove has also been converted to gas with an above ground propane tank! INTERIOR – Fans have been added to all rooms. All areas have been tiled, and custom tile work has been added near the front entrance. A kitchen reverse osmosis system was also added for purified drinking water! Recently replaced all water faucets and shower valves including a new faucet in the laundry basin sink! EXTERIOR – Owner has recently replaced the water heater in the garage, added an electric subpanel and generator plug, new water softener system, new screen in the front porch, fresh paint on the exterior of the home, pavers near garage and pavers along the entire length of the home in the FABULOUS MUST SEE LANAI that includes a new private outdoor shower area, tons of room to entertain, and plenty of room for a pool! Enjoy the peaceful wooded view as you pick from your 7 FRUIT TREES including Olive, Key Lime, Ruby Red Grapefruit, White Fig, Valencia Orange, and Ponderosa Lemon!! Conveniently located just minutes from I75 for easy commute, and a quick drive to the nearest gas station, grocery store, and other shopping, dining, and entertainment options!

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
Lamarque Elementary School Primary Regular 805 65 7
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Lamarque Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 65
7
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
 

$227,700$278,300$253,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$933
Property Tax -$311
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
-$85

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.

$253,000

PROJECTED PRICE

$1,360

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,795

INVESTMENT

$72,795

Down Payment
$63,250
Rehab Estimate
$5,750
Closing Costs
$3,795

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,250
Loan Amount $189,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,353

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3603$1,4454$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 4554 Clarke St North Port, FL 2
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.98
    •  
  • 2619 Carthage St North Port, FL 1
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 3805 N Cranberry Blvd North Port, FL 3
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1996
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.03
    •  
  • 5906 N Cranberry Blvd North Port, FL 4
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1997
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 3442 Everett Ter North Port, FL 5
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Chris Pizzolato
1.941.628.5317
Kw Peace River Partners
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435358
Last Updated: 11/08/2020
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