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2600 Briar Oak Cir Sarasota, FL 34232

3 Beds 2 Baths 1,326 sqft Built 1989

$314,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $237.48
  • 2 Days on Market
  • MLS # : A4484210
  • Updated Date : 11/21/2020 at 14:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,326 sqft
  • Baths : 2 full
Listing Agent

Harry Robbins Assoc Inc

Listing Agent's Description

Immaculate, move-in ready 3/2 home with a split floor plan in the low HOA, highly desirable community of Colonial Oaks. As you walk through the front door you'll be welcomed by a spacious open floor plan with fresh updates all throughout. Quality built, Amish-made solid wood cabinets with quartz countertops encompass this beautiful remodeled kitchen. Other updates include new carpet in all bedrooms, fresh paint, new bathroom vanities, new baseboards, new flooring and more! Conveniently located to I-75 with shopping close by. Siesta Key Beach is just over 10 miles away. Colonial Oaks park is easily accessible with a large playground, indoor and outdoor basketball courts, tennis courts, recreation building and more. There are sidewalks all around the neighborhood, great for walking. This captivating 3 bedroom, 2 bath, double car garage home in the heart of Sarasota won’t last long. Schedule a showing before its too late!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,162
Property Tax -$294
Property Insurance -$117
HOA -$25
Property Management Fees -$80
CASH FLOW
-$19

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.

$314,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$24,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,654

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6953$1,7004$1,7505$1,895
$1,895
RENT COMPS ANALYSIS
  • 2600 Briar Oak Cir Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.25
    •  
  • 1611 Summer Breeze Way Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2001
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.16
    •  
  • 5510 Colonial Oaks Blvd Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1986
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.19
    •  
  • 2679 Briar Oak Cir Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1989
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.35
    •  
  • 5209 Brookmeade Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1971
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.29
    •  
PROPERTY LISTING DETAILS
Ryan Miller
1.941.954.6925
Harry Robbins Assoc Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484210
Last Updated: 11/21/2020
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