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5523 Surprise Rd North Port, FL 34288

3 Beds 2 Baths 1,170 sqft Built 2017

$204,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $174.36
  • 2 Days on Market
  • MLS # : A4487339
  • Updated Date : 01/02/2021 at 08:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,170 sqft
  • Baths : 2 full
Listing Agent

Kw Suncoast

Listing Agent's Description

Why wait and endure the building process when this 2017 home is ready for you now? This lovely home has a spacious great room made for entertaining, or simply relaxing, it's up to you - its your new home! Your guests will likely converge around the granite counter breakfast/food bar before heading to the nearby dining area, and the living room is large enough for a grand movie night or Super Bowl party. Conveniently located just minutes from I75 and schools and with tile throughout, ceiling fans in all three bedrooms, a large garage and a yard big enough for your garden or touch football, this really is an opportunity for you to move in and start enjoying 2021! (room measurements have been rounded and prospective purchasers and agents are advised to confirm all pertinent facts).

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

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
 

$183,600$224,400$204,000

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 -$753
Property Tax -$251
Property Insurance -$108
Property Management Fees -$129
CASH FLOW
$260

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.

$204,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.74%

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$59,810

INVESTMENT

$59,810

Down Payment
$51,000
Rehab Estimate
$5,750
Closing Costs
$3,060

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,000
Loan Amount $153,000
See What Happens When You Reinvest Cash Flow

12.42

YEARS SAVED

$45,939

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
  • $1.28

    LIST RENT PER SQFT
  • $916

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$700
1$7002$9253$1,2004$1,3755$1,500
$1,500
RENT COMPS ANALYSIS
  • 5523 Surprise Rd North Port, FL 5
    • 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,170 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.28
    •  
  • 2683 Zodiac St North Port, FL 1
    • 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,163 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $700
    • $0.60
    •  
  • 3956 Basket St North Port, FL 2
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $0.63
    •  
  • 2614 S San Mateo Dr North Port, FL 3
    • 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,211 Sqft ∙ Built 1999
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.99
    •  
  • 1156 Russellville St North Port, FL 4
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2006
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
PROPERTY LISTING DETAILS
Rick Hughes, Pllc
1.941.374.5896
Kw Suncoast
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487339
Last Updated: 01/02/2021
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