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110 Whispering Oaks Ct Sarasota, FL 34232

3 Beds 3 Baths 1,807 sqft Built 1991

INVESTimate

$299,000

List Price

$1,790

$1,611 - $1,969

Rent Est.

$322,083  ( +7.72%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1991
  • Price/Sqft : $165.47
  • 9 Days on Market
  • MLS # : A4475218
  • Updated Date : 08/18/2020 at 08:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

WHISPERING OAKS IS A CHARMING COMMUNITY OF 32 HOMES. THE HOME IS LOCATED ON AN OVERSIZED LOT CENTRALLY LOCATED TO DOWNTOWN SARASOTA, I-75, SHOPPING, DINING, ENTERTAINMENT, SPORTING VENUES, UTC MALL, AIRPORT AND SOME OF THE MOST BEAUTIFUL BEACHES. THIS HOUSE OFFERS FORMAL LIVING ROOM AND DINING ROOMS WITH CROWN MOLDING. EAT IN KITCHEN WITH BREAKFAST NOOK. FAMILY ROOM WITH FIREPLACE AND LANAI. FIRST FLOOR LAUNDRY AND POWDER ROOM. THREE BEDROOMS AND 2 BATHS UPSTAIRS. MASTER SUITE OFFERS WALK-IN SHOWER. PLENTY OF ROOM FOR A POOL. WONDERFUL NEIGHBORHOOD!!!

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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: Whispering Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k380k

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

Neighborhood: Whispering Oaks

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q212001300140015001600170018001900200021002200Rent in $11792288

* 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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,103
Property Tax -$316
Property Insurance -$147
Property Management Fees -$80
CASH FLOW
$144

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.

$299,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.72%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$40,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,834

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,7504$1,7905$2,100
$2,100
RENT COMPS ANALYSIS
  • 110 Whispering Oaks Ct Sarasota, 4
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.99
    •  
  • 4164 King Richard Dr Sarasota, 1
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 3380 Howell Pl Sarasota, 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 4229 Arrow Dr Sarasota, 3
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1981
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 4040 Woodview Dr Sarasota, 5
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1985
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.18
    •  
PROPERTY LISTING DETAILS
Mary Clarke
1.941.544.0021
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475218
Last Updated: 08/18/2020
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