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5042 Varden Ter North Port, FL 34288

3 Beds 2 Baths 1,876 sqft Built 2013

$319,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $170.04
  • 5 Days on Market
  • MLS # : C7435077
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Champion Realty Services, Llc

Listing Agent's Description

AMAZING 2013 NEW Three bedroom, two bathroom, with a large bonus room with closet! You will LOVE the stately pillars that complement the tiled grand entrance and majestic leaded glass double front entry doors. The freshly painted exterior and well thought out mature landscaping give this home wonderful curb appeal. Beautiful high quality tile floors and the designer color scheme blend well with any interior design taste. You will LOVE the exquisite crown molding in the entire home. Any cook will fall in love with the AWESOME kitchen with solid wood super tall cabinets, lots of pleasing granite counter space and a desirable quaint eat in kitchen area. Top of the line appliances are all included. A formal dining area is also available in the kitchen family room split floor plan. You will LOVE the HUGE owner's bedroom suite where you can relax and recuperate from your day. The owner's ensuite bath features double sink basins with quality finishes and FLOOR TO CEILING TILE with spectacular tile mosaic work. Soak in your HUGE TUB for hours or take a quick rinse off in the walk in shower. The guest bedrooms are very spacious as well and also are accentuated with exquisite crown molding. The guest bathroom also boast floor to ceiling tile and the always desirable "rain shower" type shower head. You can also relax on your tiled and screened lanai while enjoying your favorite morning or evening beverage. You'll also appreciate the wide sidewalk that circles the entire home. The convenient storage building is also included. North Port is rich with archaeological history, beautiful natural springs and more than 75 miles of freshwater canals. Choose to play golf at Heron Creek Country club or Bobcat Trail Country club both minutes away. Enjoy the beautiful area beaches! All this plus a short distance to shopping, restaurants, fishing, Charlotte Sports Park. (winter home of the Tampa Rays and summer home to the Stone Crabs) The new North Port water park and only a short drive to the new Atlanta Braves Spring Training Stadium and the West Villages! Call to schedule your private tour. Get your slice of paradise you deserve NOW!

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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
Atwater Elementary School Primary Regular 718 53 6
Woodland Middle School Middle Regular 857 50 7
North Port High School High Regular 2,315 119 6

Atwater Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 53
6
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
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,177
Property Tax -$392
Property Insurance -$151
Property Management Fees -$80
CASH FLOW
-$50

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.

$319,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$20,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,4004$1,4455$1,750
$1,750
RENT COMPS ANALYSIS
  • 5042 Varden Ter North Port, FL 5
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 4238 Kiska Rd North Port, FL 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2005
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 5023 Andris St North Port, FL 2
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2003
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 2984 Phoenix Palm Terrace North Port, FL 3
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.68
    •  
  • 362 Overbrook St Port Charlotte, FL 4
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2006
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.87
    •  
PROPERTY LISTING DETAILS
Kevin Hall
1.941.421.9141
Champion Realty Services, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435077
Last Updated: 10/31/2020
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