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470 Treasure Rd Venice, FL 34293

3 Beds 2 Baths 1,216 sqft Built 1973

$259,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $213.73
  • 4 Days on Market
  • MLS # : N6112640
  • Updated Date : 11/13/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,216 sqft
  • Baths : 2 full
Listing Agent

Bright Realty

Listing Agent's Description

Welcome home to this beautifully remodeled home located in prime South Venice! This home is within the limits to join the private boat ramp and ferry at the South Venice Association (optional). This home features lifeproof flooring (totally waterproof!), granite countertops, fresh paint inside and out, brand new appliances kitchen cabinets and countertops, pendant lighting in the kitchen, crown molding in the kitchen, inside laundry, new light fixtures and fans throughout, new textured ceilings, newer roof, AC was replaced in March of 2020, newer windows, HUGE lanai with brand new screening and fresh epoxy flooring on lanai, upgraded interior doors, and upgraded bathrooms that feature brand new tile in showers (new waterfall faucet in master bathroom.) Awesome split floorplan for privacy in the bedrooms. Easy to maintain landscaping. Huge backyard that is fully fenced in. Three extra lots next to the home- seller is willing to sell with the home for $35k more (will be listed in separate listing also.) This home won't last long - book your showing now!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k297k

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

Neighborhood: South Venice

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2110012001300140015001600170018001900200021002200Rent in $10512260

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$959
Property Tax -$254
Property Insurance -$111
Property Management Fees -$80
CASH FLOW
$96

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.

$259,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.4%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$32,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,5003$1,5754$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 470 Treasure Rd Venice, FL 2
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.23
    •  
  • 1401 Horizon Rd Venice, FL 1
    • 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1962
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.29
    •  
  • 5041 Mimosa Rd Venice, FL 3
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1986
    property image
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.24
    •  
  • 503 Grant Rd Venice, FL 4
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1991
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.15
    •  
  • 756 Leeward Rd Venice, FL 5
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.22
    •  
PROPERTY LISTING DETAILS
Brittany Provencher
1.941.716.0430
Bright Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112640
Last Updated: 11/13/2020
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