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5329 Alibi Ter North Port, FL 34286

3 Beds 2 Baths 1,602 sqft Built 1988

$189,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $118.54
  • 7 Days on Market
  • MLS # : U8111785
  • Updated Date : 02/04/2021 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,602 sqft
  • Baths : 2 full
Listing Agent

Assist 2 Sell Buyers N Sellers

Listing Agent's Description

North Port, 3 bedroom 2 bath 2 car garage. Great area, perfect location, close to everything, shopping, restaurants etc. Home features a split bedroom plan. The master bedroom has its own full bath, walk-in closet and sliding glass doors to the patio. The open floor plan with cathedral ceilings and dormer windows on the roof offer plenty of light. The open kitchen has a wrap around breakfast bar with plenty of cabinet space. Sliding glass doors off the dining area lead to a large screened lanai overlooking a large backyard. Ceiling fans and tile floors throughout. The roof is in great shape and it comes with a dual a.c. system, central heat & air and newer mini split for the master suite. This is a lot of home for the $, come make it your own.

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
 

$170,910$208,890$189,900

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 -$660
Property Tax -$234
Property Insurance -$134
Property Management Fees -$129
CASH FLOW
$344

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.

$189,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.79%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

14.25

YEARS SAVED

$43,806

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
  • $0.94

    LIST RENT PER SQFT
  • $1,538

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,5004$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 5329 Alibi Ter North Port, FL 3
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 4197 Hamwood St North Port, FL 1
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2004
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 4926 Escalante Dr North Port, FL 2
    • 4 beds 3 baths ∙ 1,614 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,614 Sqft ∙ Built 1980
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 5387 Burdette Ter North Port, FL 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1989
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 4970 Easter Ter North Port, FL 5
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2003
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Randall Bowman
1.727.596.2995
Assist 2 Sell Buyers N Sellers
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8111785
Last Updated: 02/04/2021
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