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1063 Greystone Ln Sarasota, FL 34232

4 Beds 3 Baths 2,378 sqft Built 1989

$479,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $201.81
  • 4 Days on Market
  • MLS # : N6112839
  • Updated Date : 12/03/2020 at 20:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,378 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Rarely available family home in the exclusive neighborhood of Greystone is nestled in amongst a tree-lined street with only 21 homes. This fabulous house features floor to ceiling windows allowing an abundance of sunlight to flow into the house making it an inviting and warm home to share with family and friends. This house also boasts a beautiful kidney shaped pool that has just been resurfaced along with the pool deck with an oasis of privacy in the fenced back yard with conservation views. The kitchen is a culinary delight featuring Quartz countertops and backsplash, wood cabinetry, stainless steel appliances and a Kitchen Aid gas range and exhaust hood. The master bedroom ensuite is located downstairs featuring an oversized walk in closet. The second floor has 3 more bedrooms and a full bath, perfect for a family or guests. Propane gas is used for the cooking range, 2 fireplaces, tankless water heater and clothes dryer. The house is hard wired for stereo speakers and a security system. Dual A/C units were replaced in 2018 and the roof was replaced in 2016. The neighborhood is conveniently located to the UTC mall, downtown Sarasota, first class restaurants and the world renowned Siesta Key Beach. Call to schedule your showing because this one of kind home won't last long!

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: Greystone

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k378k

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

Neighborhood: Greystone

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000210022002300Rent in $11792304

* 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
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
GreatSchools Rating

Booker Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 62
4
GreatSchools Rating

Booker High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 69
4
GreatSchools Rating
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,771
Property Tax -$449
Property Insurance -$182
HOA -$33
Property Management Fees -$129
CASH FLOW
-$164

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.

$479,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.7%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$24,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,556

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,4004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1063 Greystone Ln Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.01
    •  
  • 1267 Cornish Ct Sarasota, FL 1
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1998
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1721 Old Summerwood Blvd Sarasota, FL 2
    • 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2003
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
  • 2816 Breton Woods Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1992
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 84 Arbor Oaks Dr Sarasota, FL 5
    • 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1996
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.18
    •  
PROPERTY LISTING DETAILS
Raena Everett
1.941.202.8352
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112839
Last Updated: 12/03/2020
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