Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3242 Fauna St Sarasota, FL 34235

3 Beds 2 Baths 1,269 sqft Built 1965

$249,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $196.93
  • 6 Days on Market
  • MLS # : A4487585
  • Updated Date : 01/06/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,269 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

Out with 2020 and in with 2021! This Kensington Park 3/2 gem has fresh paint and is ready for a new family. Neat, clean and priced to sell. Cute as a button with no deed restrictions and centrally located to just about everything Sarasota has to offer. New roof and water heater installed in late 2020. A/C is less than two years old as is the flooring in the main area of the home. This home is move in ready as sellers have been diligent with their maintenance. Property offers a large fenced in back yard with storage shed and play ground area for the kids! Well for landscaping and lawn. Ample parking for cars and bring your boat and toys. 10th Street Boat Ramp and Bay Front Park are roughly three miles to the west. University Town Mall is roughly three miles to the east. Downtown and I-75 are both less than ten minutes away. Run don’t walk…this will go quick!

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: Kensington Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Kensington 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
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
GreatSchools Rating

Booker Middle School

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

Booker High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 69
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$868
Property Tax -$241
Property Insurance -$114
Property Management Fees -$129
CASH FLOW
$149

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.

$249,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 11.9%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$31,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,494

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,5003$1,5504$1,6505$1,749
$1,749
RENT COMPS ANALYSIS
  • 3242 Fauna St Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1965
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.18
    •  
  • 3760 Dover Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,133 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,133 Sqft ∙ Built 1959
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.14
    •  
  • 2740 Heather Pl Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1961
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 3873 Prudence Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1961
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.27
    •  
  • 2030 Harley Ave Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1958
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.23
    •  
PROPERTY LISTING DETAILS
Steve Harris
1.941.780.2352
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487585
Last Updated: 01/06/2021
BESbswy