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1900 N Tuttle Ave Sarasota, FL 34234

4 Beds 1 Baths 1,786 sqft Built 1964

INVESTimate

$239,900

List Price

$1,800

$1,620 - $1,980

Rent Est.

$259,980  ( +8.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $134.32
  • 2 Days on Market
  • MLS # : A4476363
  • Updated Date : 08/26/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,786 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Close to everything!! Minutes from downtown Sarasota, Lido Key, shopping, dining, and entertainment. Set your sights on this recently remodeled home with spacious living areas and a larger master bedroom with a walk in closet. The back yard features a large patio and scenic landscaping. The home is situated on almost a 1/4 of an acre. This home has been remodeled with new kitchen cabinets, countertops, appliances; new bathroom sink,vanity, lights, and plumbing fixtures; new heating and air conditioning, water heater, flooring, interior and exterior paint. Added feature is an oversized driveway.

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: Leisure Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $62k306k

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

Neighborhood: Leisure Lakes

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9882059

* 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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,620$1,980$1,800

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$885
Property Tax -$224
Property Insurance -$146
Property Management Fees -$80
CASH FLOW
$465

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.

$239,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 8.37%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

14.67

YEARS SAVED

$68,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,6504$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 1900 N Tuttle Ave Sarasota, 5
    • 4 beds 1 baths ∙ 1,786 Sqft ∙ Built 1964 4 beds 1 baths ∙ 1,786 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 531 N Brink Ave Sarasota, 1
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1979
    property image
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
  • 2740 Heather Pl Sarasota, 2
    • 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
    •  
  • 3103 Lockwood Lake Cir Sarasota, 3
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1983
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 1735 Dodge Ave Sarasota, 4
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1956
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Matt Cannon
1.941.228.2030
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4476363
Last Updated: 08/26/2020
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