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2512 Regatta Dr Sarasota, FL 34231

3 Beds 2 Baths 2,198 sqft Built 1980

$475,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $216.11
  • 3 Days on Market
  • MLS # : A4490658
  • Updated Date : 02/06/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,198 sqft
  • Baths : 2 full
Listing Agent

Harry Robbins Assoc Inc

Listing Agent's Description

3 bedroom 2 bath home located on a cul-de-sac street in Gulf Gate. This house features over 2,000 SF of livable space, 2 car garage, large screened in patio with a pool, 1/3 of an acre lot and mature oak trees. Main and guest bedrooms have a split floor plan and the front living space could be configured to make a 4th bedroom.

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: Gulf Gate West

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $67k369k

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

Neighborhood: Gulf Gate West

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q211001200130014001500160017001800190020002100220023002400Rent in $10372471

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,650
Property Tax -$444
Property Insurance -$171
Property Management Fees -$129
CASH FLOW
-$4

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.

$475,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.1%
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$1.4M$1.6M

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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$31,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,671

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3903$2,3954$2,5005$2,675
$2,675
RENT COMPS ANALYSIS
  • 2512 Regatta Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.09
    •  
  • 2736 Cardwell Way Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.14
    •  
  • 6753 Keystone Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,072 Sqft ∙ Built 1968
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.16
    •  
  • 2545 Clipper Ship Way Sarasota, FL 4
    • 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 1962
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.23
    •  
  • 6837 Roxbury Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1969
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.33
    •  
PROPERTY LISTING DETAILS
Troy Robbins
1.941.356.1613
Harry Robbins Assoc Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490658
Last Updated: 02/06/2021
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