Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

176 Hoosier Pl Sarasota, FL 34232

3 Beds 1 Baths 852 sqft Built 1960

$225,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $264.08
  • 4 Days on Market
  • MLS # : A4494141
  • Updated Date : 03/12/2021 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 852 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Move right in home close to downtown! This home was completely renovated in late 2016 with a new roof, new flooring, and a new electrical panel. The HVAC, water heater, and interior paint are also very recent. Large windows in the living room, bedroom and kitchen provide plenty of natural light and the sliding glass door in the dining room shows off the spacious backyard. Featuring a beautiful mature oak tree, fire pit, shed and fully fenced in, this backyard was made for pets and children. Enjoy living on a lightly trafficked road with easy access to the interstate, downtown or UTC mall. This is a block home with nothing for a new owner to do except move in. Stop renting and start building equity today! With no deed restrictions or HOA, own this home as an investment that will provide great rental income, or park your boats and other big toys. This home will not last long, so schedule your showing today!

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: Eastwood Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300kPrice in $55k306k

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

Neighborhood: Eastwood Oaks

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9392059

* 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
Fruitville Elementary School Primary Regular 761 58 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Fruitville Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 58
8
GreatSchools Rating

Mcintosh Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 50
5
GreatSchools Rating

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$782
Property Tax -$238
Property Insurance -$88
Property Management Fees -$129
CASH FLOW
$64

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.

$225,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.58%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$21,741

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $1,145

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,3504$1,375
$1,375
RENT COMPS ANALYSIS
  • 176 Hoosier Pl Sarasota, FL 2
    • 3 beds 1 baths ∙ 852 Sqft ∙ Built 1960 3 beds 1 baths ∙ 852 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.53
    •  
  • 2147 Dodge Ave #b Sarasota, FL 1
    • 3 beds 2 baths ∙ 924 Sqft ∙ Built 1956 3 beds 2 baths ∙ 924 Sqft ∙ Built 1956
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.30
    •  
  • 325 E Cornelius Cir Sarasota, FL 3
    • 3 beds 2 baths ∙ 973 Sqft ∙ Built 1960 3 beds 2 baths ∙ 973 Sqft ∙ Built 1960
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.39
    •  
  • 3869 Gatewood Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,028 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,028 Sqft ∙ Built 1977
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.34
    •  
PROPERTY LISTING DETAILS
Frank Frederick, Pa
1.941.544.6520
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494141
Last Updated: 03/12/2021
BESbswy