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3732 Taro Pl Sarasota, FL 34232

3 Beds 2 Baths 1,474 sqft Built 1961

$279,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $189.28
  • 4 Days on Market
  • MLS # : A4485087
  • Updated Date : 12/03/2020 at 15:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,474 sqft
  • Baths : 2 full
Listing Agent

Bright Realty

Listing Agent's Description

**EVERYTHING’S NEW!! This 3-bedroom, 2-bathroom home has been completely renovated from top to bottom. Owner installed new ROOF (including all decking), new A/C SYSTEM, new PLUMBING, new ELECTRICAL (including panel), new DOORS and IMPACT WINDOWS, new KITCHEN, new BATHROOMS, new DRYWALL, new FLOORING. The spacious, open floorplan is ideal for modern day living. The oversized living room is perfect for entertaining and the large master bedroom offers plenty of space for a reading nook along with office space. This home’s upgrades such as stainless steel appliances and recessed lights throughout, are the perfect finishing touches. There’s plenty of room to add a pool in the massive backyard where a privacy fence surrounds almost the entire property. Enjoy the convenient location with nearby shopping centers, restaurants, and I-75. Siesta Key North bridge is less than 5 miles away! Schedule a showing today!

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: 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
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,029
Property Tax -$267
Property Insurance -$126
Property Management Fees -$129
CASH FLOW
$248

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.

$279,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.65%

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$5.0k$10k$15k$20k

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$52,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7994$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3732 Taro Pl Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
  • 3106 Vinson Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1978
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 4604 Brooksdale Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1968
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.31
    •  
  • 2834 Linwood Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1978
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.34
    •  
  • 3707 Papai Dr Sarasota, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Marco Guadagnini
1.862.268.0070
Bright Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485087
Last Updated: 12/03/2020
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