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2101 Sylvan Lea Dr Sarasota, FL 34240

4 Beds 3 Baths 2,309 sqft Built 2020

$480,990

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $208.31
  • 4 Days on Market
  • MLS # : A4485335
  • Updated Date : 12/04/2020 at 09:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,309 sqft
  • Baths : 3 full
Listing Agent

Kw Suncoast

Listing Agent's Description

Under Construction. Under Construction. The Crystal is an elegant, award-winning home. At 2,309 square feet, this home includes 4 bedrooms, 3 full bathrooms, and an enormous open concept kitchen, and a great room with a 3-car garage. With many options to personalize the space, the Crystal can truly become what you need. As you walk in the front door, you are greeted by two bedrooms with a full bath, perfect for the family or guests who want their own space to hang and interact. Walk further into the home and enter the large combination dining-family area, which opens directly into the kitchen. With stone countertops, beautiful cabinetry, and stainless steel appliances, the kitchen is equipped to meet the demand of your culinary adventures. The master suite sits on the far corner, giving you maximum peace and privacy with a spacious walk-in closet perfect for his and her storage. An upscale master bath boasts an enclosed shower area with beautiful tile, double sinks, and a separate toilet area. Finishing off the Crystal is a three-car garage, giving you flexibility in space. Create an organized garage system or turn the space into a small home gym. Come visit the Crystal today. **Pictures and virtual tours are for representational purposes only**

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: Sylvan Lea

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k460k

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

Neighborhood: Sylvan Lea

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
 

$432,891$529,089$480,990

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$1,775
Property Tax -$450
Property Insurance -$178
HOA -$33
Property Management Fees -$129
CASH FLOW
$496

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 7% of earned rent to cover both maintenance and periods of vacancy.

$480,990

PROJECTED PRICE

$3,060

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 3.00%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$129,462

INVESTMENT

$129,462

Down Payment
$120,248
Rehab Estimate
$2,000
Closing Costs
$7,215

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,248
Loan Amount $360,743
See What Happens When You Reinvest Cash Flow

12

YEARS SAVED

$108,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,963

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,8504$3,060
$3,060
RENT COMPS ANALYSIS
  • 2101 Sylvan Lea Dr Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $1.33
    •  
  • 1613 Pinyon Pine Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2004
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.19
    •  
  • 1059 Meadow Breeze Ln Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2000
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
  • 6520 Deer Lake Ct Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2001
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.41
    •  
PROPERTY LISTING DETAILS
Howard Serena
1.941.928.5224
Kw Suncoast
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485335
Last Updated: 12/04/2020
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