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2489 Appaloosa Cir Sarasota, FL 34240

3 Beds 2 Baths 2,080 sqft Built 1998

$374,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $180.24
  • 4 Days on Market
  • MLS # : A4490499
  • Updated Date : 02/06/2021 at 16:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,080 sqft
  • Baths : 2 full
Listing Agent

White Sands Realty Group Fl

Listing Agent's Description

This three bedroom, two bath, move-in ready home in the North Paddocks has so many great new features! The Paddocks are an established community that is located close to the Celery Fields for the Birdwatchers, athletes and nature lovers. Also the Big Cat Habitat is near by. It's convenient to shopping, the highway, beaches and dining. It's also in one of the best school districts. This home has brand new vinyl plank flooring with newer carpet in the bedrooms. The roof was replaced last year, along with the a/c system and water heater. The pool was also refinished and new equipment added. There is a two year old fence surrounding the back yard for privacy while you swim in your large pool or dine on your large cover lanai! The kitchen appliances are only a couple years old. There is nothing else to replace! It's also a "smart home"! There is a brand new $4000 system installed. You will be able to control the home's lights, security cameras, front door lock, garage door and thermostat all from your phone.

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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: Paddocks North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Paddocks North

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12942642

* 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
Tatum Ridge Elementary School Primary Regular 669 46 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Tatum Ridge Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 46
8
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
 

$337,410$412,390$374,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,302
Property Tax -$351
Property Insurance -$164
HOA -$38
Property Management Fees -$129
CASH FLOW
$436

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.

$374,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

11.92

YEARS SAVED

$69,682

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,919

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$2,1454$2,1505$2,420
$2,420
RENT COMPS ANALYSIS
  • 2489 Appaloosa Cir Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.16
    •  
  • 2369 N Appaloosa Cir #0 Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1997
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 6781 Island Creek Rd Sarasota, FL 2
    • 4 beds 2 baths ∙ 1,907 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,907 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 6792 Deering Cir Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1996
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.01
    •  
  • 1732 Old Summerwood Blvd Sarasota, FL 4
    • 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
Jesse Rutherford
1.941.685.7141
White Sands Realty Group Fl
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490499
Last Updated: 02/06/2021
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