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3713 Stokes Dr Sarasota, FL 34232

3 Beds 2 Baths 1,642 sqft Built 1961

$295,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $179.66
  • 3 Days on Market
  • MLS # : A4494450
  • Updated Date : 03/20/2021 at 20:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,642 sqft
  • Baths : 2 full
Listing Agent

Keller Williams On The Water

Listing Agent's Description

One or more photo(s) has been virtually staged. First-time buyer property or a great rental! 3 bedrooms and 2 bathrooms upgraded and remodeled from top to bottom and situated in the perfect neighborhood off Bee Ridge This block home underwent an extensive renovation, including a new roof, a new a/c unit, a brand new kitchen with a beautiful quartz countertop, and new appliances, amazing space in Master Bedroom, with office bonus space, new Bathrooms and endless possibilities in the big backyard. You'll love all the thoughtful details. This home makes the top of everyone's list and won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Ridgewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $89k306k

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

Neighborhood: Ridgewood Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10562059

* 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
Brentwood Elementary School Primary Regular 672 53 4
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Brentwood Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 53
4
GreatSchools Rating

Mcintosh Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 50
5
GreatSchools Rating

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,025
Property Tax -$282
Property Insurance -$137
Property Management Fees -$129
CASH FLOW
$128

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.

$295,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 10.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$33,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,979

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8954$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3713 Stokes Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 5357 Skyline Pl Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1968
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.15
    •  
  • 5209 Brookmeade Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1971
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.29
    •  
  • 3707 Papai Dr Sarasota, FL 4
    • 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1968
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.21
    •  
  • 5528 Homewood Pl Sarasota, FL 5
    • 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 1974
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
PROPERTY LISTING DETAILS
Sandra Kirkpatrick
1.904.707.4612
Keller Williams On The Water
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494450
Last Updated: 03/20/2021
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