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PROPERTY INFO
FACTS
- Single Family
- Built In 1974
- Price/Sqft : $193.05
- 2 Days on Market
- MLS # : A4485926
- Updated Date : 12/12/2020 at 16:21
CONSTRUCTION
- Beds : 4
- Floor Size : 2,015 sqft
- Baths : 2 full
Listing Agent
Michael Saunders & Company
Listing Agent's Description
Location. Location. Pool home in popular Gulf Gate Woods close to the beach and a wide selection of shops and restaurants and the new Gulf Gate Library are just around the corner. There's even a small county park within the community a block away. At the front and rear of the home you’ll enjoy complete privacy, plus a low-maintenance lot with no grass to mow. This mid-century-like home was updated several years ago. Approach the home via the circular drive and enter into a private, screened courtyard with a Zen rock garden and water feature – then to the interior from glass French doors protected from the under-cover area directly into the expansive great room with an open floor plan and split bedrooms. Seamless entertaining and a great flow from the kitchen and great room leads to a private tropical oasis & pool area with a massive pool with crystal crete finish, and an outdoor shower. No carpet in home – neutral tiles laid in a garden pattern graces the entire interior. Fabulous kitchen with wood cabinets, large granite peninsula with lots of seating space, contemporary lighting and a pot filler at the cooktop. The spa-like master retreat is truly noteworthy with expansive closet, grand shower and elegant fixtures. Recent updates include a newer tankless hot water heater, newer a/c, new roof over covered portion of rear lanai and new cooktop. The area enjoys "A" rated schools. The entire Sarasota area and its arts, entertainment and beaches are the crown jewel of the Gulf Coast. Don’t miss this Sarasota gem. Come make this place your own and enjoy the good life.
SEE MORE
- #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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Gulf Gate Woods
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Gulf Gate Woods
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,360 |
| EXPENSES | Loan Payment | -$1,435 |
| Property Tax | -$362 | |
| Property Insurance | -$160 | |
| HOA | -$6 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$268
|
||
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.
$389,000
PROJECTED PRICE
$2,360
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.43% |
| Appreciation Year (1-5) | 3.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.71% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$108,835
LOAN DETAILS
$1,435
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $97,250 |
| Loan Amount | $291,750 |
9.83
YEARS SAVED
$64,016
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,360
LIST RENT -
$1.17
LIST RENT PER SQFT
-
$2,388
COMP ESTIMATED VALUE -
$1.19
COMP AVG. RENT PER SQFT
Comps Range
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2923 Captiva Way Sarasota, FL 3
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7529 Curtiss Ave Sarasota, FL 1
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LEASED 07/24/20- Rent
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- $2,300
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-
6753 Keystone Dr Sarasota, FL 4
- 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
-
2921 Captiva Dr Sarasota, FL 5
- 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 1974
LEASED 03/02/20- Rent
- Rent Per SQFT
- $2,495
- $1.31
PROPERTY LISTING DETAILS
1.941.228.1213
Michael Saunders & Company
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4485926
Last Updated: 12/12/2020
