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3673 Helene St Sarasota, FL 34233

3 Beds 2 Baths 1,358 sqft Built 1968

$300,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $220.91
  • 3 Days on Market
  • MLS # : T3297655
  • Updated Date : 03/27/2021 at 12:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Ling Realty, Llc

Listing Agent's Description

WELCOME TO YOUR NEW HOME! COME SEE THIS COMPLETELY REMODELED 3 BEDROOM, 2 BATH HOME IN SOUTHGATE RIDGE! SHOWS LIKE A MODEL HOME * NEW ROOF(2019), AC(2019), + MUCH MORE * This home simply put, is built for entertaining. This home welcomes an abundance of natural lighting through numerous windows and doors, highlighting the luxury finishes. Just wait until you see the brand new custom designed kitchen!!! It's absolutely gorgeous boasting high-end sparkling quartz countertops w/a waterfall(perfect serving bar w/pendant lights w/Edison bulbs), custom marble backsplash, brand-new stainless steel Whirlpool appliances, solid wood cabinetry and built-in pantry. This home features an ample amount of recessed LED lighting. Vinyl wood laminate flooring runs throughout the entire home, giving the home an aesthetic and low maintenance quality, to be appreciated by all homeowners. The master bedroom/bathroom en-suite has a barn door, walk-in closet and separate water closet. Not only pretty to the eye, energy savings and low utility costs are found here. All renovations have been engineered and completed by licensed contractors per 2018 building codes. Residents of Southgate Ridge enjoy many benefits inc: spacious lots, quick access to I75, Siesta Beaches, downtown Sarasota, St Armand's Circle, UTC/Benderson Park & Sarasota/Bradenton International Airport. No HOA/deed restrictions or CDD fees, so bring your boat, RV and pets! First time homebuyers welcome! COME SEE TODAY!

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

Zip Code: 34233

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k306k

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

Zip Code: 34233

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792172

* 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
Sarasota Middle School Middle Regular 1,270 80 9
Riverview High School High Magnet 2,483 126 7

Wilkinson Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 40
4
GreatSchools Rating

Sarasota Middle School

  • Education Level: Middle
  • # of students: 1,270
  • # of teachers: 80
9
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

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,042
Property Tax -$290
Property Insurance -$119
Property Management Fees -$129
CASH FLOW
-$11

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

$1,570

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$19,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,568

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5703$1,6994$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 3673 Helene St Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.16
    •  
  • 4220 Larkin St Sarasota, FL 1
    • 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1972
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.14
    •  
  • 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 4
    • 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
    •  
  • 4348 Pasadena Cir Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
PROPERTY LISTING DETAILS
Will Farrell
1.941.587.6302
Ling Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3297655
Last Updated: 03/27/2021
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