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3326 Sheffield Cir Sarasota, FL 34239

3 Beds 3 Baths 2,240 sqft Built 1969

$429,999

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $191.96
  • 7 Days on Market
  • MLS # : A4484540
  • Updated Date : 11/25/2020 at 19:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,240 sqft
  • Baths : 3 full
Listing Agent

Home Realty & Management Llc

Listing Agent's Description

RENOVATED, MODERN, SPACIOUS AND WITH AN OPEN CONCEPT, CENTRALLY LOCATED in Sarasota. Located in the well maintained Village Green neighborhood in the heart of Sarasota. With a desirable split floor plan, this 3 bedroom, 3 bedroom home is perfectly setup to entertain out of town guest and host parties. The gourmet kitchen is truly spectacular with its classic and sleek white cabinets, modern marble-like granite countertops and grandiose waterfall featured island. With its large and luxurious bathrooms, newer windows, white window plantation shutters, and energy efficient solar panel helping to reduce the electric costs, this block home is move-in ready! HOA is only $50/year. Location is ideal for those wanting a short commute to I-75, an evening out in downtown Sarasota, or a beautiful day on Siesta Key Beach / Siesta Key Village. Just a quick drive to LA Fitness, Publix, Lucky's Market, TJ Maxx & Home Goods, Cinebistro, Trader Joes and Starbucks Coffee.

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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: Village Green Club Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $67k322k

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

Neighborhood: Village Green Club Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q211001200130014001500160017001800190020002100Rent in $10372113

* 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
 

$386,999$472,999$429,999

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,587
Property Tax -$406
Property Insurance -$173
HOA -$4
Property Management Fees -$80
CASH FLOW
$370

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.

$429,999

PROJECTED PRICE

$2,620

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 9.0%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,499
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$79,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,212

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,899
1$1,8992$1,9853$2,2004$2,2005$2,620
$2,620
RENT COMPS ANALYSIS
  • 3326 Sheffield Cir Sarasota, FL 5
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $1.17
    •  
  • 3125 S Lockwood Ridge Rd Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1970
    property image
    LEASED 05/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.95
    •  
  • 3708 Riviera Dr Sarasota, FL 2
    • 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,237 Sqft ∙ Built 1976
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.89
    •  
  • 4307 Pasadena Ct Sarasota, FL 3
    • 4 beds 2 baths ∙ 2,154 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,154 Sqft ∙ Built 1982
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
  • 3407 Pembrook Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sara Washio
1.941.920.7272
Home Realty & Management Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484540
Last Updated: 11/25/2020
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