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2109 Cambridge Dr Sarasota, FL 34232

3 Beds 2 Baths 1,174 sqft Built 1974

INVESTimate

$249,900

List Price

$1,550

$1,395 - $1,705

Rent Est.

$272,616  ( +9.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $212.86
  • 3 Days on Market
  • MLS # : T3261079
  • Updated Date : 08/25/2020 at 13:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,174 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty S.shore

Listing Agent's Description

Come check out this beautiful home TODAY! MOVE IN READY! NO CARPET! This 3 Bedroom 2 Bathroom home is exactly what you have been waiting to HIT THE MARKET and it WON'T LAST LONG! As you arrive you will notice the spacious front yard, FRESH landscaping, BRAND NEW EXTERIOR and DRIVEWAY PAINT; enter the home into the entertainment and living area open to the dining room and NOTICE THE BRAND NEW INTERIOR PAINT THROUGHOUT THE ENTIRE HOME. This open floor plan is perfect for entertaining your guest. The UPDATED kitchen is equipped with granite and a amazing mobile island for all of your cooking needs. Enjoy making freshly baked cookies using your kitchen island, and then roll it out to your friends and family to taste your baked goods. Make your way into the master suite that features a walk in closet and a private bathroom. The two secondary bedrooms share the secondary bathroom. Notice the office or flex space that can be used as a home office, craft room, play room or formal dining room. The incredible backyard is fenced and ready to be used, host an end of summer BBQ. UPGRADES INCLUDE: NEW FRONT YARD LANDSCAPING (AUG 2020), EXTERIOR PAINT (AUG 2O2O), DRIVEWAY PAINTED (AUG 2020), ALL NEW INTERIOR PAINT (AUG 2020), MASTER BATHROOM UPDATED (2017), AND SO MUCH MORE!!!

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: Sarasota Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $88k306k

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

Neighborhood: Sarasota Springs

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10322059

* 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,395$1,705$1,550

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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 $1,550
EXPENSES Loan Payment -$922
Property Tax -$234
Property Insurance -$108
Property Management Fees -$80
CASH FLOW
$206

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.

$249,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.09%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$45,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,547

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,6504$1,6955$1,775
$1,775
RENT COMPS ANALYSIS
  • 2109 Cambridge Dr Sarasota, 2
    • 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.32
    •  
  • 2124 Vinson Ave Sarasota, 1
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.15
    •  
  • 4027 Condor Ln Sarasota, 3
    • 3 beds 2 baths ∙ 1,187 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,187 Sqft ∙ Built 1959
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.39
    •  
  • 4604 Brooksdale Dr Sarasota, 4
    • 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1968
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.31
    •  
  • 2240 Mystic Dr Sarasota, 5
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.42
    •  
PROPERTY LISTING DETAILS
Kristen Comstock
1.910.388.8010
Keller Williams Realty S.shore
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261079
Last Updated: 08/25/2020
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