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6074 Deming Ave North Port, FL 34287

3 Beds 1 Baths 1,685 sqft Built 1970

$196,500

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $116.62
  • 74 Days on Market
  • MLS # : T3279961
  • Updated Date : 02/19/2021 at 17:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,685 sqft
  • Baths : 1 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

This is the perfect starter home. Ample size, great location, block construction and offers a solar heated oversized pool with large screened enclosure. Located minutes from all shopping, dining, and entertainment that North Port has to offer. This 2 bedroom, 2 bath home offers a huge enclosed lanai, oversized laundry/ storage room, and even a bonus room which could be an office, den, entertainment room, or even a 3rd bedroom with the addition of a closet. You will be only minutes away from parks, beaches, Ray's Stadium, Charlotte Fairgrounds, and much more, yet still located in a rural area. With all this property has to offer at the price offered, this home won't last long so make time to see this one.

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
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
 

$176,850$216,150$196,500

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$683
Property Tax -$242
Property Insurance -$139
Property Management Fees -$129
CASH FLOW
$168

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.

$196,500

PROJECTED PRICE

$1,360

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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,823

INVESTMENT

$57,823

Down Payment
$49,125
Rehab Estimate
$5,750
Closing Costs
$2,948

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,125
Loan Amount $147,375
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$28,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,441

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3004$1,3605$1,400
$1,400
RENT COMPS ANALYSIS
  • 6074 Deming Ave North Port, FL 4
    • 3 beds 1 baths ∙ 1,685 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,685 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.81
    •  
  • 8453 Herbison Ave North Port, FL 1
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1962
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.81
    •  
  • 8477 Fay Ave North Port, FL 2
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1970
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.81
    •  
  • 6432 Otis Rd North Port, FL 3
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1970
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 6749 Miro Ct North Port, FL 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1979
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
PROPERTY LISTING DETAILS
Brian Finkle
1.866.580.6402
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279961
Last Updated: 02/19/2021
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