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5262 Rhapsody Ave North Port, FL 34288

3 Beds 2 Baths 1,851 sqft Built 2006

$305,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $164.78
  • 3 Days on Market
  • MLS # : C7435467
  • Updated Date : 11/20/2020 at 13:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,851 sqft
  • Baths : 2 full
Listing Agent

941 Realty, Llc

Listing Agent's Description

This lovely spacious home is in pristine condition with many updates which were completed in the last five years. The home is located on a quite street with large windows in the dining room and front room. There is abundance of natural light that comes from the three panels sliding door in the great room. The spacious kitchen with a very large snack bar is great for entertaining family and friends, it also has newer refrigerator (2018), tile floors (2017),spot lights, new hardware, no mess pull out trash can and convenient pull out shelves at the bottom of the pantry. The inside laundry room with wire shelves includes washer/ dryer and newer vinyl planking floor (2015). The lovely master bedroom has two walk in closets. One of the closets could be a small cave or cute sitting area. The large master bathroom features a wall to wall vanity with two sinks, completely tiled walk in shower with newer massage shower head. The guest bathroom conveniently located between the two guest bedrooms has a combo tub/shower with tiled walls and a large vanity with extra storage space. A cherry of the cake is a beautiful inviting pool with the six feet deepest point. The pool deck has been recently painted. Great location between North Port/ Port Charlotte, close to shopping, restaurants and 30 minutes to the beaches. All you need is to pack your belongings and move in to enjoy the Florida style living. A list of the updates see in attachments.

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
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,125
Property Tax -$375
Property Insurance -$150
Property Management Fees -$80
CASH FLOW
$0

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.

$305,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.57%

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$24,092

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,5994$1,6995$1,730
$1,730
RENT COMPS ANALYSIS
  • 5262 Rhapsody Ave North Port, FL 5
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.93
    •  
  • 5261 Janus Ave North Port, FL 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2006
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 2794 Zodiac St North Port, FL 2
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2007
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 99 Baldur Dr Port Charlotte, FL 3
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1992
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.84
    •  
  • 5387 Hader Rd North Port, FL 4
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 2001
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.85
    •  
PROPERTY LISTING DETAILS
Svetlana Koshevoy
1.941.301.1574
941 Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435467
Last Updated: 11/20/2020
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