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2426 Pinehurst St Sarasota, FL 34231

3 Beds 2 Baths 1,728 sqft Built 1976

$285,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1976
  • Price/Sqft : $164.93
  • 10 Days on Market
  • MLS # : A4481675
  • Updated Date : 10/30/2020 at 07:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 2 full
Listing Agent

Sarasota Communities Real Estate Pllc

Listing Agent's Description

Location is everything! Located close to so many great amenities and hot spots that Sarasota has to offer! Minutes to Siesta Key Beach, Gulf Gate, Westfield Mall, and more. Great starter home and with some TLC, this can be your jewel box. 1700 sq. ft. with a nicely shaded backyard, this 3 Bedroom, 2 bath, has a great flow for any household. Tile floors, crown molding in Bedroom 2, chair rail molding with skip trowel wall finish in the living room and bedroom. Separate expansive family room & dining room that is perfect for entertaining. Bring your commercial vehicle or boat. No CDD, HOA, or deed restrictions. Outdoor entertaining is a breeze with a covered patio and open paver deck. Great permanent home, vacation home, or investment income property. (Owner is a Florida Licensed Real Estate Broker)

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pinehurst Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $86k306k

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

Neighborhood: Pinehurst Park

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10732059

* 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
Gulf Gate Elementary School Primary Regular 753 53 7
Brookside Middle School Middle Regular 820 53 7
Riverview High School High Magnet 2,483 126 7

Gulf Gate Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 53
7
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
 

$256,500$313,500$285,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,052
Property Tax -$267
Property Insurance -$142
Property Management Fees -$80
CASH FLOW
$260

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.

$285,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 11.0%
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$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

10.92

YEARS SAVED

$54,570

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
  • $1.04

    LIST RENT PER SQFT
  • $2,078

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8753$1,9954$2,0005$2,495
$2,495
RENT COMPS ANALYSIS
  • 2426 Pinehurst St Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 7132 Antigua Pl Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.20
    •  
  • 7529 Curtiss Ave Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1973
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.13
    •  
  • 1807 Coquina Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1965
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
  • 2921 Captiva Dr Sarasota, FL 5
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1974
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.31
    •  
PROPERTY LISTING DETAILS
Bill Travers
1.941.544.7516
Sarasota Communities Real Estate Pllc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4481675
Last Updated: 10/30/2020
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