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3203 Dawson St Sarasota, FL 34239

3 Beds 2 Baths 1,944 sqft Built 1961

$359,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $185.13
  • 8 Days on Market
  • MLS # : A4495063
  • Updated Date : 03/24/2021 at 18:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent

Worthington Property Group Inc

Listing Agent's Description

Location Location. Rarely available, 3/2 in South Gate coming in at just under 2000 square feet! Enjoy plenty of privacy in your 14,950 sq.ft. fenced in yard. Plenty of room to create the backyard of your dreams, and side gate provides the ability to park your boat and toys in the backyard! This home boasts an excellent open floor plan and a split bedroom layout. A few updates will make this house absolutely shine! Exterior has been freshly painted. Southgate is a beloved neighborhood in the heart of Sarasota. You will enjoy being just minutes from Siesta Key and Lido Key beaches, as well as just minutes to Downtown Sarasota.

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: South Gate Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k341k

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

Neighborhood: South Gate Manor

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
Sarasota High School High Regular 2,110 106 6

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

Sarasota High School

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

$323,910$395,890$359,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,250
Property Tax -$348
Property Insurance -$155
Property Management Fees -$129
CASH FLOW
$167

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.

$359,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.6%
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$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$41,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,070

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,0994$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 3203 Dawson St Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.05
    •  
  • 3212 Webber St Sarasota, FL 1
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 1961
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
  • 2918 Sunnyside St Sarasota, FL 3
    • 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 1962 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 1962
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $1.00
    •  
  • 2513 Bougainvillea St Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1956
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.11
    •  
  • 3407 Pembrook Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Carlisle Fiers Iii
1.941.812.3380
Worthington Property Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4495063
Last Updated: 03/24/2021
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