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6667 Carovel Ave North Port, FL 34287

3 Beds 2 Baths 1,440 sqft Built 1979

$174,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $121.46
  • 3 Days on Market
  • MLS # : D6115173
  • Updated Date : 12/04/2020 at 18:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Paradise Exclusive Inc.

Listing Agent's Description

3/2/2 POOL HOME UNDER $175k!!! SOUTHWEST POOL EXPOSURE!!! CITY WATER and SEWER!!! X-flood zone!!! NO FLOOD INSURANCE is required!!! ROLL DOWN STORM PANELS!!! 4th bedroom option!!! NEW ELECTRIC SERVICE!!! FLORIDA ROOM!!! Private backyard with mature landscaping and paver patio!!! GREEN SPACE to the side and rear for ALL THE PRIVACY you desire!!! Tile flooring throughout the entire living area for easy cleaning!!! This 1,440 sq. ft. open floor plan with large windows, sliding glass doors and NATURAL LIGHT offers CLEAN AND BRIGHT living and close proximately to all the amenities!!! Large closets and plenty of storage. Converted garage offers the OPTION for A 4TH BEDROOM!!! If you want the single car garage, simply remove the framed interior wall and bring your car inside. Much of THE WORK at this property HAS ALREADY BEEN DONE... now you can bring in your finishing touches. Simply, bring your personal belongings and make the move to this INCREDIBLE POOL HOME!!! Just beyond the OUTDOOR LIVING space and separate enclosed FLORIDA ROOM overlooking the SPACIOUS backyard, you get to create a LIFETIME of MEMORIES in this SPARKLING CLEAR BLUE pool. This pool is easy to maintain and inexpensive to care for! Community offers up sidewalks and street lights, clubhouse and tennis courts. If you are looking for your new WINTER RETREAT Florida pool home, look no further!!! This is it! Enjoy all the sunshine that Florida offers. LARGE WINDOWS and SLIDERS allow the NATURAL LIGHT to consume this home!!! Floor tile flooring makes for great flow and easy care!!! Bright and clean is the theme throughout!!!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Jocky Club of North Point

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $58k297k

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

Neighborhood: Jocky Club of North Point

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q290010001100120013001400150016001700180019002000Rent in $8632041

* 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
Glenallen Elementary School Primary Regular 697 55 5
Heron Creek Middle School Middle Regular 863 64 6
North Port High School High Regular 2,315 119 6

Glenallen Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 55
5
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
 

$157,410$192,390$174,900

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 -$645
Property Tax -$215
Property Insurance -$124
HOA -$20
Property Management Fees -$129
CASH FLOW
$176

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.

$174,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 14.1%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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

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$52,099

INVESTMENT

$52,099

Down Payment
$43,725
Rehab Estimate
$5,750
Closing Costs
$2,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$645

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,725
Loan Amount $131,175
See What Happens When You Reinvest Cash Flow

10.92

YEARS SAVED

$32,989

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
  • $0.91

    LIST RENT PER SQFT
  • $1,429

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3104$1,3755$1,400
$1,400
RENT COMPS ANALYSIS
  • 6667 Carovel Ave North Port, FL 3
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.91
    •  
  • 3561 Lullaby Rd North Port, FL 1
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1979
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.02
    •  
  • 6816 Carovel Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1979
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 2933 S Biscayne Dr North Port, FL 4
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1994
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 3481 Nekoosa St North Port, FL 5
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1979
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Mark Hamsher
1.941.809.8846
Paradise Exclusive Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6115173
Last Updated: 12/04/2020
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