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1826 Par Pl Sarasota, FL 34240

3 Beds 2 Baths 1,706 sqft Built 1984

$334,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $195.78
  • 1 Days on Market
  • MLS # : A4484451
  • Updated Date : 11/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

Re/max Tropical Sands

Listing Agent's Description

Adorable 3/2 Cape Cod Colonial Style Pool Home located on Cul-de-Sac of Nice Homes. This Cozy Home Features: 3 Bedrooms, 2 Baths, Formal Living and Dining Room w/Vaulted Ceilings, Diagonal Tile Flooring and Slider to Pool, Open Family Room w/Real Wood Floors, Wood Burning Brick Fireplace, Brick Detail Wall w/Slider to Pool and 50x27 Covered Lanai, Kitchen includes Eating Bar and Pantry Closet, Inside laundry Room w/Wash Sink, Master Suite includes Master Bath, Walk-in Closet and Slider to Pool, New Electrical Service Panel 2013, New Well Water Softener and Pumps 2014, Whole House was Replumed 2014, New Hot Water Heater 2019, New Pool Pump, New Septic Tank 2020, Partially Fenced Yard, Private Back Yard w/Pond on the other side of the Fence, Oversized 2 Car Side-Load Garage, Parking Space for Boat on Side Yard plus so much more. Sold AS-IS w/Right to Inspect. Seller is offering $15,000 towards a New AC and New Roof!!! (Professional Pics Coming Soon)

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: Sarasota Golf Club Colony

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Sarasota Golf Club Colony

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12942642

* 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
Tatum Ridge Elementary School Primary Regular 669 46 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Tatum Ridge Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 46
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
 

$300,600$367,400$334,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,232
Property Tax -$312
Property Insurance -$141
Property Management Fees -$80
CASH FLOW
$285

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.

$334,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 5.1%
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$1.0M$1.2M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,260

INVESTMENT

$94,260

Down Payment
$83,500
Rehab Estimate
$5,750
Closing Costs
$5,010

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,232

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,500
Loan Amount $250,500
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$61,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,060

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0503$2,3954$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1826 Par Pl Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.20
    •  
  • 7322 Deer Crossing Ct Sarasota, FL 1
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 2001
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.08
    •  
  • 1613 Pinyon Pine Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2004
    property image
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.19
    •  
  • 1951 Rolling Green Cir Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2002
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.31
    •  
  • 1059 Meadow Breeze Ln Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2000
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
PROPERTY LISTING DETAILS
Anne Thomas, Pa
1.941.993.7700
Re/max Tropical Sands
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484451
Last Updated: 11/22/2020
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