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1812 N Conrad Ave Sarasota, FL 34234

4 Beds 2 Baths 1,226 sqft Built 1973

$249,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $203.10
  • 6 Days on Market
  • MLS # : W7828802
  • Updated Date : 12/02/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,226 sqft
  • Baths : 2 full
Listing Agent

Listwithfreedom.com

Listing Agent's Description

INVESTOR'S DREAM - 4 bedroom house for sale by owner - ACT QUICKLY! Amazing opportunity to own a 4 bedrooms house in the heart of Sarasota for sale at a below market price. No HOA, no rules or restrictions to follow! LOCATION! This house is 7 minutes from University Shopping Center! 12 Minutes from Lido Beach! 5 Minutes from downtown Sarasota! 2 Minutes from route 301! Walkable to shopping center and grocery stores! Safe and quiet neighborhood of families. Modern floor plan with secluded master bedroom and centrally located living room with French doors that lead out to a large, enclosed backyard with plenty of room to play. The galley kitchen has a great spot for dining that leads to the living room. One side of the house has 3 spacious bedrooms and one full bathroom, on the other side is the master bedroom with a full bathroom with walk in shower. Beautiful backyard with a beautiful oak tree in the middle. Backyard has plenty space to build a pool or for a garden or any sort of outdoor living area like a firepit or a BBQ with friends. Relatively new shed also included in the backyard. The one car garage is attached to the house which has enough extra space that you could make into an extra room. The roof is less than three years old. Bones of the house are solid, the only upgrades required are cosmetic. This is a great house for investors. You could divide the house into 2 sections and live in one side and rent the other side.

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: Green Manor Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Green Manor Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10372059

* 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
Emma E. Booker Elementary School Primary Regular 554 44 2
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Emma E. Booker Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 44
2
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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$919
Property Tax -$233
Property Insurance -$111
Property Management Fees -$129
CASH FLOW
$58

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.

$249,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$27,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,422

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4503$1,5504$1,6505$1,749
$1,749
RENT COMPS ANALYSIS
  • 1812 N Conrad Ave Sarasota, FL 2
    • 4 beds 2 baths ∙ 1,226 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,226 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.18
    •  
  • 3760 Dover Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,133 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,133 Sqft ∙ Built 1959
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.14
    •  
  • 2740 Heather Pl Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 2019 Harley Ave Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1958
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.20
    •  
  • 2030 Harley Ave Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1958
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.23
    •  
PROPERTY LISTING DETAILS
Ralph Harvey
1.855.456.4945
Listwithfreedom.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828802
Last Updated: 12/02/2020
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