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3026 Grafton St Sarasota, FL 34231

3 Beds 2 Baths 1,542 sqft Built 1986

$299,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $194.49
  • 2 Days on Market
  • MLS # : A4488512
  • Updated Date : 01/16/2021 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,542 sqft
  • Baths : 2 full
Listing Agent

Fine Properties

Listing Agent's Description

Welcome to the Briarwood community. This 3br/2ba home has a split floorpan, huge fenced in backyard, screened in lanai and 2 car garage. This hidden gem is centrally located on a quiet cul de sac minutes from the famed Siesta Key beach along with restaurants, shopping, and schools.

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: Briarwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k312k

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

Neighborhood: Briarwood

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
Wilkinson Elementary School Primary Regular 483 40 4
Brookside Middle School Middle Regular 820 53 7
Riverview High School High Magnet 2,483 126 7

Wilkinson Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 40
4
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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,042
Property Tax -$280
Property Insurance -$131
HOA -$27
Property Management Fees -$129
CASH FLOW
$191

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.

$299,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.1%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$39,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,8003$1,8004$1,9005$2,050
$2,050
RENT COMPS ANALYSIS
  • 3026 Grafton St Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
  • 5738 Savannah Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1972
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.13
    •  
  • 2521 Jamaica St Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1978
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.15
    •  
  • 5610 New York Ave Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1985
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.17
    •  
  • 5370 Matthew Ct Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1995
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.22
    •  
PROPERTY LISTING DETAILS
Mark Singer
1.941.806.9121
Fine Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488512
Last Updated: 01/16/2021
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