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8004 Lars Rd North Port, FL 34287

4 Beds 3 Baths 2,238 sqft Built 2003

$299,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $134.00
  • 3 Days on Market
  • MLS # : N6113294
  • Updated Date : 01/08/2021 at 15:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,238 sqft
  • Baths : 2 full , 1 half
Listing Agent

Medway Realty

Listing Agent's Description

This property is a must see and the location is terrific offering privacy and yet close to everything North Port has to offer. In addition, there is an additional lot included so the owner has plenty of room for all the extras such as boat, RV, and toys galore. Built in 2003 with over 2200 sq ft of living, features include 4 bedrooms PLUS den, 2.5 baths, 2 car garage, formal dining, eat-in kitchen with breakfast bar, high ceilings, walk-in closets, crown molding & so much more. Your family will love the caged salt water self-cleaning pool that is solar heated for months of outdoor enjoyment. The back yard is fenced with the extra convenience of a 9 X 15 shed. There's even more...X flood zone which means no flood insurance required and central water too! This is a rare find so make your viewing appointment today.

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
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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,042
Property Tax -$393
Property Insurance -$173
Property Management Fees -$129
CASH FLOW
$273

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.

$299,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.67%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$46,841

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$2,010
$2,010
RENT COMPS ANALYSIS
  • 8004 Lars Rd North Port, FL 3
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.90
    •  
  • 8338 Drolet Ave North Port, FL 1
    • 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2005
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.71
    •  
  • 6146 San Salvador Rd North Port, FL 2
    • 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,986 Sqft ∙ Built 2006
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
PROPERTY LISTING DETAILS
Terry Langham
1.941.270.7771
Medway Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6113294
Last Updated: 01/08/2021
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