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4620 Alfa Ter North Port, FL 34286

3 Beds 2 Baths 2,302 sqft Built 2008

$399,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $173.33
  • 3 Days on Market
  • MLS # : A4490631
  • Updated Date : 02/05/2021 at 05:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,302 sqft
  • Baths : 2 full
Listing Agent

Lokation

Listing Agent's Description

Prepare to be impressed when you enter this superbly presented residence set on a spacious lot with a fenced backyard. Constructed by Quality Brothers, this fully furnished home features beautifully appointed furnishings and an abundance of natural light. The versatile floor plan boasts 3 bedrooms plus an office or fourth bedroom, a master bedroom with sitting area, tray ceilings, stainless steel appliances, granite countertops, laminate wood floors, new AC (2019), new tankless water heater (2019), central vac, rain gutters, alarm system and so much more. Spend the day outdoors at your private pool and spa complete with an outdoor shower. Plumbing and electrical are installed for your future outdoor kitchen. No flood zone and no HOA. Public water. Sewer is septic. Pet friendly with no lease restrictions. Minutes from Cranberry Elementary School, Coco Plum Shopping Center, Publix, and I-75. Walk this home using our 3D tour.

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,386
Property Tax -$491
Property Insurance -$177
Property Management Fees -$129
CASH FLOW
-$173

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.

$399,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.50%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,066

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$2,0104$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 4620 Alfa Ter North Port, FL 3
    • 3 beds 2 baths ∙ 2,302 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,302 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.87
    •  
  • 2831 Ashland Ln North Port, FL 1
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2007
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 3083 Oporto St North Port, FL 2
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2004
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 4907 Alfa Ter North Port, FL 4
    • 4 beds 2 baths ∙ 2,556 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,556 Sqft ∙ Built 2000
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 4197 Allure Ln North Port, FL 5
    • 3 beds 3 baths ∙ 2,379 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,379 Sqft ∙ Built 1998
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.01
    •  
PROPERTY LISTING DETAILS
Gina Ursini
1.941.812.4894
Lokation
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490631
Last Updated: 02/05/2021
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