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2141 Oak Ter Sarasota, FL 34231

3 Beds 2 Baths 1,356 sqft Built 1999

$299,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $220.50
  • 3 Days on Market
  • MLS # : A4485314
  • Updated Date : 12/04/2020 at 18:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Good Choice Realty Inc.

Listing Agent's Description

Location, Location, Location! Lovely 3 bedroom, 2 bath home located in the heart of Sarasota. End of Quiet street with tree-lined median. This home is ready to go and features split bedroom plan, Great room with tray ceiling, 2 car garage. Solid wood cabinets in the kitchen with pantry and desk, also a breakfast bar. Easy care tile floors throughout. Sliding doors lead to screened lanai overlooking large vinyl fenced yard, with room for a pool. New 16 SEER A/C in 2017. No deed restrictions. Minutes to Siesta Key Beach, downtown, shopping, dining and more! Don’t miss this home! Schedule your tour today!

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: Harbor Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $92k306k

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

Neighborhood: Harbor Oaks

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10882059

* 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
Phillippi Shores Elementary School Primary Regular 750 50 8
Brookside Middle School Middle Regular 820 53 7
Riverview High School High Magnet 2,483 126 7

Phillippi Shores Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 50
8
GreatSchools Rating

Brookside Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 53
7
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,483
  • # of teachers: 126
7
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,103
Property Tax -$280
Property Insurance -$119
Property Management Fees -$129
CASH FLOW
$19

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.

$299,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$27,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,434

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,3504$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 2141 Oak Ter Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.22
    •  
  • 2516 Trinidad St Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 2160 Fiesta Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2002
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 2142 Fiesta Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,313 Sqft ∙ Built 2002
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 2148 Fiesta Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2002
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.23
    •  
PROPERTY LISTING DETAILS
Frank Kovach
1.941.356.9744
Good Choice Realty Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485314
Last Updated: 12/04/2020
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