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2434 Britannia Rd Sarasota, FL 34231

3 Beds 2 Baths 1,339 sqft Built 1962

INVESTimate

$299,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$327,196  ( +9.43%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $223.30
  • 1 Days on Market
  • MLS # : A4475521
  • Updated Date : 08/26/2020 at 04:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,339 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This beachy and move-in ready home with 3 bedrooms and 2 bathrooms is located in Phillippi Gardens, a residential neighborhood in Sarasota with no deed restrictions and located just 5 minutes to world-famous Siesta Key, dining, shopping, Detweiler's and Publix, Phillippi Creek Oyster Bar, even a weekly farmer's market. The flooring has been updated with low-maintenance, waterproof wood-look laminate and the kitchen features stainless steel appliances, butcher block counters, and travertine tile backsplash. French doors lead the way from the living room to the large covered, screened, and pavered patio, which also features a new hot tub! The very private backyard is fenced and has an outdoor shower for rinsing off after the beach or gardening. The 2 car garage is oversized, and the driveway is also long enough to accommodate all your friends who come to visit. There is an outdoor security camera to add to your sense of safety and on top of it all, it's located in a wonderful school zone. This home is adorable and priced to sell quickly, so schedule your showing today!

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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: Phillippi Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k310k

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

Neighborhood: Phillippi Gardens

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792166

* 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

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,103
Property Tax -$275
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
$173

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

$1,750

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.43%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

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 35% 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

9.33

YEARS SAVED

$45,347

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,744

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6754$1,7505$2,200
$2,200
RENT COMPS ANALYSIS
  • 2434 Britannia Rd Sarasota, 4
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.31
    •  
  • 5629 Antietam Dr Sarasota, 1
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1964
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.32
    •  
  • 2130 Michele Dr Sarasota, 2
    • 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1958
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.30
    •  
  • 5738 Savannah Dr Sarasota, 3
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1972
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.13
    •  
  • 5726 Waneta Pl Sarasota, 5
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1958
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.46
    •  
PROPERTY LISTING DETAILS
Alison Stottlemyer
1.941.504.7260
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475521
Last Updated: 08/26/2020
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