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6262 Spinnaker Blvd Englewood, FL 34224

3 Beds 2 Baths 1,640 sqft Built 2019

$265,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $162.13
  • 2 Days on Market
  • MLS # : T3280357
  • Updated Date : 12/13/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 2 full
Listing Agent

Realnet Florida Real Estate

Listing Agent's Description

This Hanover Model features three beds, two baths, two car garage with epoxy floor, spacious split floor plan, sturdy concrete block construction, all hip roof, Designer color architectural shingles, 360 degree seamless gutters system, covered front entry and covered back patio that has been screened in to take advantage of 160 square feet of outdoor living space, 20Ft wide oversized driveway with concrete culvert pipe. As you enter through the front door you will find an open concept living space with vaulted ceilings and durable porcelain, tile throughout. The kitchen boasts GRANITE countertops, 6 foot Island, stainless steel appliances, all wood cabinets, and Soft close cabinet doors & Drawers. The master suite features lots of space for furniture, dual sinks in bathroom, large shower and spacious walk-in closet. Bathroom two provides a shower and tub combination and is perfectly located between the two secondary bedrooms. The yard is beautifully landscaped and fully irrigated with a rain-bird system. This East Englewood home is within minutes of beaches, shopping, restaurants, and great fishing. If you have been looking for an affordable home where you too can live the Florida lifestyle look no further! The Hanover is the best value new construction home in southwest Florida. This is a newer home that is 100% complete, certificate of occupancy was issued earlier this year in 2020.

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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: Section 62

NeighborhoodNIR Market*City2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k350k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Section 62

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212501300135014001450150015501600165017001750Rent in $12471755

* 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
Myakka River Elementary School Primary Regular 515 35 5
L. A. Ainger Middle School Middle Regular 775 41 6
Lemon Bay High School High Regular 1,268 62 7

Myakka River Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 35
5
GreatSchools Rating

L. A. Ainger Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 41
6
GreatSchools Rating

Lemon Bay High School

  • Education Level: High
  • # of students: 1,268
  • # of teachers: 62
7
GreatSchools Rating
 

$239,310$292,490$265,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$981
Property Tax -$318
Property Insurance -$133
Property Management Fees -$129
CASH FLOW
$38

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 6% of earned rent to cover both maintenance and periods of vacancy.

$265,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
Vacancy 3.00%
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

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$72,464

INVESTMENT

$72,464

Down Payment
$66,475
Rehab Estimate
$2,000
Closing Costs
$3,989

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,475
Loan Amount $199,425
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$26,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6004$1,6255$1,665
$1,665
RENT COMPS ANALYSIS
  • 6262 Spinnaker Blvd Englewood, FL 3
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 9276 Steubenville Ave Englewood, FL 1
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2007
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 6050 Hooper Ln Englewood, FL 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2008
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 10371 Grail Ave Englewood, FL 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
  • 10363 Grail Ave Englewood, FL 5
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jonathan Meyer, Pa
1.813.288.8000
Realnet Florida Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3280357
Last Updated: 12/13/2020
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