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5901 Espanola Ave North Port, FL 34287

3 Beds 2 Baths 1,593 sqft Built 1966

$224,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $141.18
  • 3 Days on Market
  • MLS # : T3282812
  • Updated Date : 01/02/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,593 sqft
  • Baths : 1 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

!!FRESHLY REMODELED NORTH PORT HOME!! This beautiful house offers an open floor plan with 3 beds and 1 full bath, and a 1/2 bath in the master bedroom. Natural light streams through the Impact Windows and shines on the newly renovated Ceramic Tile Floors. The kitchen includes all wood cabinets outfitted with NEW stainless steel appliances. This home has all big-ticket items checked off and comes equipped with a Brand New: AC System, Roof, Water Heater, Updated Electrical, Paint, and Light Fixtures. You will also notice all New Landscaping, Pool was completely redone, along with the pool pump, filter, main drain, and screen outside the home. This home features a very functional open concept and split floor plan ideal for entertaining, not to mention the large bonus room, private laundry, and 1 car garage. Just minutes away from the best beaches, shopping, and schools. This home has it all plus more! Schedule your showing today before it's too late!

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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
Lamarque Elementary School Primary Regular 805 65 7
Heron Creek Middle School Middle Regular 863 64 6
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

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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$830
Property Tax -$277
Property Insurance -$134
Property Management Fees -$129
CASH FLOW
$181

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.

$224,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.69%

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$38,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,573

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4004$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 5901 Espanola Ave North Port, FL 5
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 6432 Otis Rd North Port, FL 1
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1970
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 6335 Morning Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1967
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
  • 3481 Nekoosa St North Port, FL 3
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1979
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 8180 Porto Chico Ave North Port, FL 4
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1971
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mathew Sumlin
1.813.924.7223
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3282812
Last Updated: 01/02/2021
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