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3209 Ashton Rd Sarasota, FL 34231

3 Beds 2 Baths 1,586 sqft Built 1975

$300,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $189.16
  • 5 Days on Market
  • MLS # : A4482872
  • Updated Date : 11/20/2020 at 00:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,586 sqft
  • Baths : 2 full
Listing Agent

Palmerhouse Properties

Listing Agent's Description

AWESOME ON ASHTON!!! This delightful 3 bedroom 2 bath home on an oversized corner lot has a FRESHLY PAINTED INTERIOR (2020) with NEW CARPET INSTALLED IN THE 2ND & 3RD BEDROOMS (2020). IT’S MOVE-IN READY! Other seller improvements include UPDATED KITCHEN CABINET DOORS (2016) and GRANITE COUNTERTOPS (2012), NEW ROOF (2010), NEW A/C (2020) and SEWER HOOKUP (2019). Split floorplan – spacious screened lanai overlooking large backyard and bonus room – carport and storage shed under roof are all part of what makes this south Sarasota home special! The location can’t be beat as it’s just minutes to Siesta Key Beach, Downtown Sarasota, I75, Gulf Gate Village shoppes & dining nearby and Sarasota County’s 72-acre Red Bug Slough Preserve just at the end of the street with hiking trails, picnic tables & more!!! NO HOA FEES – NO CDD FEES – BE SURE TO WATCH THE VIDEO TOUR AND SCHEDULE A SHOWING TODAY!!!

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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: Ashton Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Ashton Park

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
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,107
Property Tax -$281
Property Insurance -$133
Property Management Fees -$80
CASH FLOW
$129

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.

$300,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$39,273

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,729

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5953$1,7304$1,9005$2,050
$2,050
RENT COMPS ANALYSIS
  • 3209 Ashton Rd Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.09
    •  
  • 5438 Creeping Hammock Way Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1981
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 5210 Lords Ave Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1964
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 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
Julie Larson
1.941.284.9826
Palmerhouse Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482872
Last Updated: 11/20/2020
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