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3719 Colorado St Sarasota, FL 34232

3 Beds 1 Baths 872 sqft Built 1960

$198,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $227.06
  • 2 Days on Market
  • MLS # : A4486492
  • Updated Date : 12/19/2020 at 14:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 872 sqft
  • Baths : 1 full
Listing Agent

Home Realty & Management Llc

Listing Agent's Description

Nice 3/1 centrally located in Sarasota! Tiles throughout, vaulted ceilings, split floorplan. Ceiling fans in all bedrooms, separate dining room off of kitchen. Fuit trees in back yard, fenced in with small storage barn. Utility room for washer and dryer that leads to the back yard. Come to see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Eastwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $61k306k

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

Neighborhood: Eastwood

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9582059

* 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
Fruitville Elementary School Primary Regular 761 58 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Fruitville Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 58
8
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
 

$178,200$217,800$198,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$731
Property Tax -$209
Property Insurance -$89
Property Management Fees -$129
CASH FLOW
$232

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.

$198,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 13.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,220

INVESTMENT

$58,220

Down Payment
$49,500
Rehab Estimate
$5,750
Closing Costs
$2,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$731

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,500
Loan Amount $148,500
See What Happens When You Reinvest Cash Flow

12.17

YEARS SAVED

$43,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $1,188

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3503$1,3754$1,3905$1,600
$1,600
RENT COMPS ANALYSIS
  • 3719 Colorado St Sarasota, FL 4
    • 3 beds 1 baths ∙ 872 Sqft ∙ Built 1960 3 beds 1 baths ∙ 872 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.59
    •  
  • 2147 Dodge Ave #b Sarasota, FL 1
    • 3 beds 2 baths ∙ 924 Sqft ∙ Built 1956 3 beds 2 baths ∙ 924 Sqft ∙ Built 1956
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.30
    •  
  • 325 E Cornelius Cir Sarasota, FL 2
    • 3 beds 2 baths ∙ 973 Sqft ∙ Built 1960 3 beds 2 baths ∙ 973 Sqft ∙ Built 1960
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.39
    •  
  • 3869 Gatewood Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,028 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,028 Sqft ∙ Built 1977
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.34
    •  
  • 566 S Pelican Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,127 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,127 Sqft ∙ Built 1954
    property image
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.42
    •  
PROPERTY LISTING DETAILS
Lisa Wu
1.941.343.7524
Home Realty & Management Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4486492
Last Updated: 12/19/2020
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