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9358 Heartwellville Ave Englewood, FL 34224

3 Beds 2 Baths 1,386 sqft Built 1986

INVESTimate

$219,900

List Price

$1,590

$1,431 - $1,749

Rent Est.

$236,986  ( +7.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $158.66
  • 5 Days on Market
  • MLS # : D6113533
  • Updated Date : 08/23/2020 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,386 sqft
  • Baths : 2 full
Listing Agent

Edgerton Realty & Development

Listing Agent's Description

Wonderful opportunity to own this 3 bedroom, 2 bath, 2 car attached garage home which has been beautifully renovated throughout. Located in lovely Englewood Florida close to great shopping, restaurants from casual to gourmet and world class Golf Courses. Enjoy the relaxed atmosphere of artsy & quaint Olde Englewood Village, Sarasota cultural activities such as the Mote Marine Laboratory & Aquarium, the Ringling Museum, Sarasota nightlife and much, much more and of course the beautiful Gulf Beaches of Manasota Key, Venice Beach, Casey Key, Siesta Key or to the South only a few minutes to beautiful Boca Grande!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Section 74

NeighborhoodNIR Market*City2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k350k

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

Neighborhood: Section 74

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21300135014001450150015501600165017001750Rent in $12801755

* 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
Vineland Elementary School Primary Regular 639 43 6
L. A. Ainger Middle School Middle Regular 775 41 6
Lemon Bay High School High Regular 1,268 62 7

Vineland Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 43
6
GreatSchools Rating

L. A. Ainger Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 41
6
GreatSchools Rating

Lemon Bay High School

  • Education Level: High
  • # of students: 1,268
  • # of teachers: 62
7
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$811
Property Tax -$263
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
$317

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$219,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.77%
Maintenance Year (1-5) 8.00%
Vacancy 3.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

13.08

YEARS SAVED

$53,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,376

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5003$1,5904$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 9358 Heartwellville Ave Englewood, 3
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.15
    •  
  • 7009 Mamouth St Englewood, 1
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1980
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 9213 San Bernandino Ave Englewood, 2
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1991
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 109 Kings Dr Rotonda West, 4
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2000
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 9325 Fruitland Ave Englewood, 5
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1986
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
C Mark Edgerton, Sr.
1.201.953.1309
Edgerton Realty & Development
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: D6113533
Last Updated: 08/23/2020
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