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3602 67th Ter E Sarasota, FL 34243

5 Beds 4 Baths 2,862 sqft Built 2007

INVESTimate

$399,500

List Price

$2,910

$2,660 - $3,160

Rent Est.

$421,992  ( +5.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $139.59
  • 6 Days on Market
  • MLS # : T3260492
  • Updated Date : 08/21/2020 at 20:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,862 sqft
  • Baths : 4 full
Listing Agent

The Basel House

Listing Agent's Description

Beautiful home in the wonderful neighborhood of RioMar. With 5 bedrooms, 4 full baths and over 2800 sq ft of living space, this home is exceptional! It is meticulously maintained and pride of ownership is evident throughout. Gorgeous unobstructed panoramic water view upon entry. Open floor plan with vaulted ceilings gives this home a very open and inviting feel. Fantastic kitchen has a center island, dinette area and a huge high bar which makes it perfect for entertaining. Open the tinted pocket doors to the huge lanai, grab a glass of wine, sit back and enjoy the beautiful Florida sunset while taking in the breathtaking lake views. The bedroom downstairs could be an office, guest room or in-law suite. As you take the stairs to the second level, you will find the master bedroom suite with an amazing over sized dressing room in the closet. Additional upgrades include: hurricane shutters, pre-wired surround sound, Culligan water system, and new bath tub enclosures. Seller will pay $5,000 towards buyers closing cost and pre-paids by using preferred lender. Fantastic location, minutes to the UTC Shopping/Dining Corridor, great access to I-75, SRQ International Airport, downtown Sarasota arts and dining, and fabulous Gulf Beaches. Your dream home awaits!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 34243

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k319k

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

Zip Code: 34243

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792164

* 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
Kinnan Elementary School Primary Regular 656 41 3
Braden River Middle School Middle Regular 977 56 5
Southeast High School High Regular 1,457 68 5

Kinnan Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
3
GreatSchools Rating

Braden River Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 56
5
GreatSchools Rating

Southeast High School

  • Education Level: High
  • # of students: 1,457
  • # of teachers: 68
5
GreatSchools Rating
 

$359,550$439,450$399,500

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$1,474
Property Tax -$467
Property Insurance -$212
HOA -$134
Property Management Fees -$80
CASH FLOW
$544

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.

$399,500

PROJECTED PRICE

$2,910

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.63%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,618

INVESTMENT

$111,618

Down Payment
$99,875
Rehab Estimate
$5,750
Closing Costs
$5,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,474

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,875
Loan Amount $299,625
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$93,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,976

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,910
1$2,9102$3,0003$3,000
$3,000
RENT COMPS ANALYSIS
  • 3602 67th Ter E Sarasota, 1
    • 5 beds 4 baths ∙ 2,862 Sqft ∙ Built 2007 5 beds 4 baths ∙ 2,862 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.02
    •  
  • 2821 Oriole Dr Sarasota, 2
    • 5 beds 4 baths ∙ 2,883 Sqft ∙ Built 2016 5 beds 4 baths ∙ 2,883 Sqft ∙ Built 2016
    property image
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.04
    •  
  • 6146 39th Ct E Bradenton, 3
    • 5 beds 5 baths ∙ 2,882 Sqft ∙ Built 2005 5 beds 5 baths ∙ 2,882 Sqft ∙ Built 2005
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.04
    •  
PROPERTY LISTING DETAILS
John Fornero
1.813.323.6434
The Basel House
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260492
Last Updated: 08/21/2020
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