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7164 Gama Ct North Port, FL 34287

3 Beds 2 Baths 1,319 sqft Built 1979

$199,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $151.55
  • 8 Days on Market
  • MLS # : W7830153
  • Updated Date : 01/25/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,319 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Wonderful 3 bedroom, 2 bathroom, single story home in North Port. Upon arriving at this home, you are welcomed into a foyer that leads to a spacious living room/dining room combo with tile flooring. The kitchen is equipped ample cabinet and counter space and a breakfast bar. The primary bedroom features tile floors and an en suite bathroom with a tiled walk-in shower. Located in North Port, this home is convenient to shops, restaurants, and I-75 for an easy commute to Tampa and surrounding areas.

SEE MORE

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: 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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$694
Property Tax -$246
Property Insurance -$117
HOA -$20
Property Management Fees -$129
CASH FLOW
$134

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.

$199,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.67%

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$1.0M

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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$25,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,339

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3404$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 7164 Gama Ct North Port, FL 3
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.02
    •  
  • 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
    •  
  • 3481 Nekoosa St North Port, FL 4
    • 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
    •  
  • 8293 Gallo Ave North Port, FL 5
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1975
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
PROPERTY LISTING DETAILS
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830153
Last Updated: 01/25/2021
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