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2463 Arborfield Sq Sarasota, FL 34235

3 Beds 2 Baths 1,839 sqft Built 1978

$379,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $206.58
  • 4 Days on Market
  • MLS # : A4494889
  • Updated Date : 03/19/2021 at 10:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,839 sqft
  • Baths : 2 full
Listing Agent

Fine Properties

Listing Agent's Description

Looking for a great place in The Meadows? This is the one! Own this nicely redone 3/2/2 home located on a private lot on a cul-de-sac. This home has had an amazing makeover and is truly “Move-in” ready. Some of the many things that have been done include NEW White Shaker Kitchen Cabinets, Granite Counter Tops with an Island that has Pullout Drawers, Tile Backsplash, NEW Bathroom Vanities, Toilets, Decorative Lighting and Mirrors, Carrera Flooring in both Bathrooms and a completely NEW Designer Master Shower, NEW Vinyl Plank Flooring, NEW Carpet in Bedrooms, NEW Fans & Lighting, NEW 5 ¼” Baseboards, ALL Re-Textured Ceilings and Walls, Fresh Paint Inside and Out, Fresh Landscaping. PLUS, all NEW Ductwork throughout and a NEW roof (2020). This home lives large and has that wonderfully popular “Open Floor” Plan. It also has a surprising amount of closet space to store all your extra items and a lovely Paver Patio for your enjoyment. The Meadows offers 17 miles of roads, 14 miles of sidewalks and bike trails, and a 1.7-mile fitness trail that wind throughout the community. There are three Golf Courses, a Club House, Fitness center and 17 Tennis Courts and Facilities, a Junior-Size Olympic Pool, Pickle Ball Courts, Three Restaurants, and a Shopping Village in the center of the community that provides resident services such as a Bank, a Post Office and other Professional Services. The Meadows is close to downtown Sarasota and to some of the best shopping in Sarasota-Manatee, including the UTC Mall and other area amenities. This is a must-see home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • One of the best cost-friendly American cities to do business (KPMG)

PRICE & RENT TRENDS

Neighborhood: Arborfield

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $67k362k

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

Neighborhood: Arborfield

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q211001200130014001500160017001800190020002100Rent in $10372179

* 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
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
GreatSchools Rating

Booker Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 62
4
GreatSchools Rating

Booker High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 69
4
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,320
Property Tax -$355
Property Insurance -$149
HOA -$97
Property Management Fees -$129
CASH FLOW
$40

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.

$379,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,198

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,0004$2,0905$2,495
$2,495
RENT COMPS ANALYSIS
  • 2463 Arborfield Sq Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.14
    •  
  • 1735 Country Meadows Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1986
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.23
    •  
  • 1397 Georgetowne Cir Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1983
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.06
    •  
  • 4842 Greencroft Rd Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1978
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 5452 Downham Mdws Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1994
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.27
    •  
PROPERTY LISTING DETAILS
Diane Calderaro
1.941.223.6520
Fine Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494889
Last Updated: 03/19/2021
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