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6363 Lachine Ave North Port, FL 34291

3 Beds 2 Baths 1,728 sqft Built 2004

$249,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $144.62
  • 4 Days on Market
  • MLS # : N6114508
  • Updated Date : 03/27/2021 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 2 full
Listing Agent

Re/max Anchor Realty

Listing Agent's Description

Currently in receipt of multiple offers. Please submit highest and best offer by 9:00 pm on 3-27-2021. ADORABLE 3 BD, 2 BA HOME & 2 Car Garage! A/C is newer along with the Gutters! All Bedrooms have Walk-In Closets. Family room and living room gives ample space for entertaining! 3 French Doors leading out Large Lanai. Tray ceiling in Family Room. Laminate flooring throughout. Updated Kitchen! Located near homes zoned AG, so you will more than likely get to see horses and wildlife! Myakkahatchee Park nearby with trails for enjoying the outdoors!

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$868
Property Tax -$307
Property Insurance -$142
Property Management Fees -$129
CASH FLOW
$114

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.

$249,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.62%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$27,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4503$1,4954$1,5605$1,600
$1,600
RENT COMPS ANALYSIS
  • 6363 Lachine Ave North Port, FL 4
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.90
    •  
  • 6481 Balboa Ter North Port, FL 1
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2006
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.85
    •  
  • 6081 Pagado Ln North Port, FL 2
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2006
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 5905 Wagon Wheel Dr North Port, FL 3
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2006
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 7304 Helliwell St North Port, FL 5
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2005
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Lori Ann Stewart, Pa
1.941.223.0441
Re/max Anchor Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6114508
Last Updated: 03/27/2021
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