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8432 Cosgrove Rd North Port, FL 34291

3 Beds 2 Baths 1,240 sqft Built 2004

$180,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $145.16
  • 4 Days on Market
  • MLS # : C7437657
  • Updated Date : 01/29/2021 at 11:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Gold

Listing Agent's Description

**Please submit the highest and best offer by Monday, February 1 at 5pm. We will respond to all offers by Tuesday, February 2 at 9am. Please submit POF or Preapproval with all offers. Also, no escalation clauses.** Look no further for your future single-family home in paradise. Whether you're a first-time home buyer, investor, looking to downsize, or just looking for a great home, this home is the perfect place to rest your head each night so you can enjoy all SWFL has to offer. Tucked into a quiet and friendly neighborhood, you'll enjoy quiet streets, great neighbors, and relaxation! This 3/2/2 has 1240 sqft but feels much larger with the cathedral ceiling in the living room. This Windemere home has many features you won't want to miss, including a 4 foot chain link fenced backyard installed in 2015 with vacant lots for privacy, and a new hot water heater in 2019. Looking to enjoy the outdoors, there's a screened lanai in the backyard and a garage screen to even extend your living area to include the garage and enjoy our beautiful weather. North Port is home to the Braves stadium, Warm Mineral Springs and is bustling with many new businesses. With 26 parks and facilities, you'll find out why North Port is a hidden gem for outdoor living. Located minutes from I-75 this home has an ideal location for those wishing to enjoy other cities of the sunshine state.

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: 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
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$625
Property Tax -$221
Property Insurance -$112
Property Management Fees -$129
CASH FLOW
$333

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.

$180,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.79%

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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

14.42

YEARS SAVED

$42,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2503$1,3004$1,3505$1,420
$1,420
RENT COMPS ANALYSIS
  • 8432 Cosgrove Rd North Port, FL 5
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.15
    •  
  • 8281 Osbert Ave North Port, FL 1
    • 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,073 Sqft ∙ Built 1990
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.03
    •  
  • 8349 Osbert Ave North Port, FL 2
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1996
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 4137 N Biscayne Dr North Port, FL 3
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1991
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
  • 3930 Log Cabin Rd North Port, FL 4
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
PROPERTY LISTING DETAILS
Heather Jorge
1.941.875.5844
Keller Williams Realty Gold
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7437657
Last Updated: 01/29/2021
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