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2976 Louise St Sarasota, FL 34237

4 Beds 2 Baths 1,308 sqft Built 1960

$275,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1960
  • Price/Sqft : $210.24
  • 10 Days on Market
  • MLS # : N6112411
  • Updated Date : 11/02/2020 at 12:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,308 sqft
  • Baths : 2 full
Listing Agent

Cornerstone Real Estate Of Southwest Florida

Listing Agent's Description

Centrally located & only 2.8 miles to downtown Sarasota and I75! This spacious, Move-in Ready, ranch style home offers 4 bedrooms and 2 full baths on a private, over-sized corner lot. The 4th bedroom includes a large walk-in closet and a separate entrance to the rear patio. The interior & exterior have been freshly painted! The flooring, cabinets, counter tops, interior doors, and crown molding were recently upgraded. The master bath features a custom walk-in shower, new faucets, newer vanity & sink, and there is a washer & dryer inside the home. The living room offers a generous 17 ft. by 17 ft. space for family and guests. The screened front lanai and uncovered patio in rear are ideal for enjoying the Florida sunshine. And there's a built in storage area in the back of the home and plenty of off-street parking for your cars or RVs. Check out the 3D Matterport tour and Schedule Your Private Showing Today!!

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: Bonita Manor

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Bonita Manor

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10372059

* 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
Alta Vista Elementary School Primary Regular 635 49 7
Booker Middle School Middle Magnet 856 62 4
Sarasota High School High Regular 2,110 106 6

Alta Vista Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 49
7
GreatSchools Rating

Booker Middle School

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

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,015
Property Tax -$290
Property Insurance -$116
Property Management Fees -$80
CASH FLOW
$89

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.

$275,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 11.4%
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$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$31,915

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,5903$1,6354$1,6755$1,745
$1,745
RENT COMPS ANALYSIS
  • 2976 Louise St Sarasota, FL 2
    • 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,308 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.22
    •  
  • 3020 Novus St Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1972
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 3076 Wood St Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1959
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $1.12
    •  
  • 2921 Greenbriar St Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1956
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.25
    •  
  • 746 Wood Ln Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1973
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.32
    •  
PROPERTY LISTING DETAILS
Erik Dunigan
1.941.441.5253
Cornerstone Real Estate Of Southwest Florida
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6112411
Last Updated: 11/02/2020
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