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6284 Freemont St North Port, FL 34287

3 Beds 2 Baths 1,555 sqft Built 1968

$190,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $122.19
  • 2 Days on Market
  • MLS # : A4489187
  • Updated Date : 01/23/2021 at 08:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,555 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

*This is the one* 3 bedroom, 2 full bath, big circular driveway on a totally fenced, oversized corner lot. Home has almost 1600 SqFt under air with newer roof (May 2017), newer water heater (June 2019). Just painted all interior & exterior with premium Sherwin Williams paint in December 2020. All new fans, new light fixtures, 2 brand new toilets, new baseboard, new carpet in bedrooms. This home has a great floor plan with plenty of room for everyone with a big living room. The kitchen and dining room have sliding doors out to the spacious lanai. Laundry is inside, not in a separate outside closet! There is a covered carport with additional storage space in a utility shed. Home has public water & sewer. The yard is huge! For dog owners, there is an abundance of space for them to run around and play! Sidewalk around the whole property. The location truly is excellent in North Port, minutes to shopping, schools, entertainment. Only a 20 minute drive to the public beaches and a short drive to the Atlanta Braves Stadium. This home is move-in ready!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$660
Property Tax -$234
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
$156

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.

$190,000

PROJECTED PRICE

$1,310

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

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$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$27,397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,302

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2503$1,3004$1,3005$1,310
$1,310
RENT COMPS ANALYSIS
  • 6284 Freemont St North Port, FL 5
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.84
    •  
  • 6321 La Brea St North Port, FL 1
    • 3 beds 1 baths ∙ 1,215 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,215 Sqft ∙ Built 1967
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.86
    •  
  • 8453 Herbison Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1962
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.81
    •  
  • 8477 Fay Ave North Port, FL 3
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1970
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.81
    •  
  • 6432 Otis Rd North Port, FL 4
    • 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
    •  
PROPERTY LISTING DETAILS
Daniel Carrozzo
1.941.400.8462
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4489187
Last Updated: 01/23/2021
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