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2429 E Scarlet Oak Ct Sarasota, FL 34232

4 Beds 3 Baths 1,901 sqft Built 1986

$375,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $197.74
  • 5 Days on Market
  • MLS # : A4491140
  • Updated Date : 02/11/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,901 sqft
  • Baths : 2 full , 1 half
Listing Agent

Shirley International Realty

Listing Agent's Description

FANTASTIC 4 BEDROOM, 2.5 BATH IN THE PRISTINE COMMUNITY OF COLONIAL OAKS ** NEWER AC ** NEW HURRICANE IMPACT WINDOWS ** SOARING TREES, CHARMING SHADOWS, GORGEOUS LAKE VIEWS ACROSS THE STREET ** There is so much to love in this sprawling ranch home. Wood flooring runs through the living area and dining room leading to an expansive family room with en suite half bath. There is no better space to entertain guests, watch the big game or host family during the holidays. You will simply love this family room ;) The entire home is energy efficient with luxury impact rated windows and a newer HVAC system. The garage door is also brand new and impact rated. Utility bills here are low and the insurance policy is full of cost saving credits. This home is directly across the from one of East county’s signature lakes. Ducks, turtles and lily pads float around this gorgeous body of water directly across the street from your home.. the beauty of this lake is the ultimate neighbor! Colonial oaks is an incredible neighborhood with low HOA fees, tennis courts and a park. Grocery shopping & I-75 are just seconds away. RUN, DONT WALK TO THIS ONE

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: Colonial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k306k

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

Neighborhood: Colonial Oaks

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11792059

* 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
 

$338,310$413,490$375,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,306
Property Tax -$352
Property Insurance -$153
HOA -$25
Property Management Fees -$129
CASH FLOW
$6

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.

$375,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.4%
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

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$105,364

INVESTMENT

$105,364

Down Payment
$93,975
Rehab Estimate
$5,750
Closing Costs
$5,639

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,306

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,975
Loan Amount $281,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$26,366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,949

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,7503$1,9704$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 2429 E Scarlet Oak Ct Sarasota, FL 3
    • 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.04
    •  
  • 5531 Homewood Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1974
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.96
    •  
  • 2291 Cork Oak St Sarasota, FL 2
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1988
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 5528 Homewood Pl Sarasota, FL 4
    • 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 1974
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
  • 1732 Old Summerwood Blvd Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2003
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
PROPERTY LISTING DETAILS
Justin Shirley
1.941.448.4872
Shirley International Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491140
Last Updated: 02/11/2021
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