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3062 Williamsburg St Sarasota, FL 34231

3 Beds 2 Baths 1,709 sqft Built 1965

$304,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $178.41
  • 2 Days on Market
  • MLS # : A4491338
  • Updated Date : 02/13/2021 at 20:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,709 sqft
  • Baths : 2 full
Listing Agent

Savvy Avenue, Llc

Listing Agent's Description

Gulf Gate Area Gem!!! Neighborhood is quiet with Over 1,700 square feet. This beautiful 3BR, 2BA home has been meticulously updated. New indoor paint, flooring is new vinyl plank and updated bathrooms. Large kitchen features new granite counter tops, newer appliances and hardwood cabinets. Newer A/C. Huge master suite with crown molding and private side patio. Desirable split plan with newer windows and window treatments. Plumbing has been re-piped. Inside utility room includes washer & dryer. House flows out to a light and bright Florida Room. Outstanding curb appeal with mature landscaping and front patio. Fenced in backyard is great for pets. Enjoy entertaining on your large brick paver patio. This property is located in a highly rated school district. 5 minutes to #1 rated SIESTA KEY BEACH. Close to shopping, restaurants, bars, I-75 and more.

SEE MORE

MARKET HIGHLIGHTS

  • #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: Golden Acres

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Golden Acres

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
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
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,059
Property Tax -$286
Property Insurance -$141
Property Management Fees -$129
CASH FLOW
$326

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.

$304,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.64%

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

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$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$53,989

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,145

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$1,9953$2,0004$2,0005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3062 Williamsburg St Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.14
    •  
  • 2453 Gulf Gate Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1961
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.28
    •  
  • 3047 Goodwater St Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 1964
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
  • 2722 White Sands Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1961
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.26
    •  
  • 2608 Constitution Blvd Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1964
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.40
    •  
PROPERTY LISTING DETAILS
Moe Mossa
1.612.490.1268
Savvy Avenue, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491338
Last Updated: 02/13/2021
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