Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5063 Hough St North Port, FL 34286

3 Beds 2 Baths 1,800 sqft Built 2009

$257,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $143.28
  • 2 Days on Market
  • MLS # : C7437554
  • Updated Date : 01/16/2021 at 08:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Nexthome Advisors

Listing Agent's Description

The feeling of country living with all of the conveniences of the up and coming town of North Port! This 3 bedroom, 2 bath, 2 car garage home with in house drinking reverse osmosis, upgraded Manablock System, pull out windows for easy cleaning, newer appliances, 1.5 year old hot water heater, storm shutters and prewired for a generator is ready for you to move in. Master bedroom has a massive split walk in closet and a walk in shower. Original A/C unit is regularly serviced and on a maintenance schedule. Roof is original with 25 year life shingles. Yard is fenced with chain link on the sides and newer vinyl privacy in the back. There is a lot of privacy as you sit on the large screen enclosed back porch or by the fire pit. Close to I-75 for an easy commute or quick trip to the world famous beaches of Sarasota. This home is a must see!

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: 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
 

$232,110$283,690$257,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$896
Property Tax -$267
Property Insurance -$146
Property Management Fees -$129
CASH FLOW
$162

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.

$257,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.62%

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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,094

INVESTMENT

$74,094

Down Payment
$64,475
Rehab Estimate
$5,750
Closing Costs
$3,869

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$896

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,475
Loan Amount $193,425
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$33,338

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5253$1,6004$1,6505$1,850
$1,850
RENT COMPS ANALYSIS
  • 5063 Hough St North Port, FL 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 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
    •  
  • 2908 Barry Rd North Port, FL 2
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2008
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.96
    •  
  • 3726 N Cranberry Blvd North Port, FL 4
    • 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 2007
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 3025 Barry Rd North Port, FL 5
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2005
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jason Jakus
1.239.931.9779
Nexthome Advisors
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7437554
Last Updated: 01/16/2021
BESbswy