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1878 Oak Branch Dr Sarasota, FL 34232

3 Beds 2 Baths 1,976 sqft Built 1995

$392,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $198.84
  • 2 Days on Market
  • MLS # : W7828958
  • Updated Date : 12/06/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,976 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Wonderful 3 bedroom, 2 bathroom, pool home in Sarasota. Upon arriving at this home, you are welcomed into a foyer that immediately opens to a spacious formal living room on the right that features high ceilings, laminate floors, and large windows to allow for natural light. Continuing past the living room you have a dedicated formal dining room with a sliding door that leads to the back patio. Adjacent to the dining room is the large kitchen with stainless steel appliances, tile floors, breakfast bar, and ample counterspace. Overlooking the kitchen is the family room with vaulted ceilings, laminate floors, and fan. The primary bedroom features high ceilings, sliding door for private access to the lanai, dual walk-in closets, and an en suite bathroom with double sinks and a large tiled walk-in shower. Outside, you can relax on your brick paver patio with screened lanai and private pool. Located in Sarasota, this home is convenient to shops, restaurants, and I-75 for an easy commute to Tampa and surrounding areas.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Colonial Woods Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Colonial Woods Estates

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
Brentwood Elementary School Primary Regular 672 53 4
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Brentwood Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 53
4
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
 

$353,610$432,190$392,900

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 -$1,450
Property Tax -$367
Property Insurance -$157
HOA -$17
Property Management Fees -$129
CASH FLOW
-$70

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.

$392,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.7%
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$1.4M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,869

INVESTMENT

$109,869

Down Payment
$98,225
Rehab Estimate
$5,750
Closing Costs
$5,894

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,450

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,225
Loan Amount $294,675
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$25,399

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
  • $1.04

    LIST RENT PER SQFT
  • $2,055

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9953$2,0504$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 1878 Oak Branch Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.04
    •  
  • 2291 Cork Oak St Sarasota, FL 1
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 5881 Old Summerwood Blvd Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1998
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.10
    •  
  • 2595 Mapleloft Rd Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1988
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 1732 Old Summerwood Blvd Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2003
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
PROPERTY LISTING DETAILS
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828958
Last Updated: 12/06/2020
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