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3544 Austin St Sarasota, FL 34231

3 Beds 2 Baths 1,305 sqft Built 1973

$359,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $275.10
  • 4 Days on Market
  • MLS # : A4485171
  • Updated Date : 12/03/2020 at 14:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,305 sqft
  • Baths : 2 full
Listing Agent

Like It Realty

Listing Agent's Description

One of a kind in Sarasota, Florida! Minutes away from world famous Siesta Key Beach, this beautifully landscaped 1300 sq. foot 3/2 home with pool, tiki bar, party deck, & fire pit area, enclosed by an 8 foot privacy fence, is ready to entertain your family and friends. This very low maintenance home includes a salt water swimming pool and automated irrigation for the 8 flowerbeds, 2 raised veggie garden beds, pineapple garden, banana tree and hanging flower bouquets. City water runs about $35 to $40 per month, electric is about $90 to $150 during the summer months. Low property taxes with homestead exemption. Move in ready, fully furnished inside and out. ***Pre-approved buyers only. Please submit proof of funds or pre-approval letter to schedule a viewing.***

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: Town And Country Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $100k306k

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

Neighborhood: Town And Country Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11602059

* 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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,325
Property Tax -$336
Property Insurance -$116
Property Management Fees -$129
CASH FLOW
-$165

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.

$359,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.1%
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-$5.0k$0.0$5.0k$10k$15k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$15,451

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,6994$1,7405$1,775
$1,775
RENT COMPS ANALYSIS
  • 3544 Austin St Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.33
    •  
  • 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
    •  
  • 3642 Dorst Ln Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1956
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.15
    •  
  • 3923 Jamaica St Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1981
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.22
    •  
  • 3791 Aster Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1980
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.17
    •  
PROPERTY LISTING DETAILS
Gretel Hernandez
1.941.301.8787
Like It Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485171
Last Updated: 12/03/2020
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