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3744 Wake Ave Sarasota, FL 34240

3 Beds 2 Baths 1,410 sqft Built 1997

$345,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $244.68
  • 6 Days on Market
  • MLS # : A4485048
  • Updated Date : 12/04/2020 at 12:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,410 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Are you looking for a quiet, private, and peaceful 31 home neighborhood enclave that has no HOA or deed restrictions? Located on the end of a practically unused street you'll enjoy the peace and quiet of a small neighborhood all while being close to everything Bee Ridge has to offer. This home is move in ready with a brand new Roof and A/C that were both installed in 2020. Look no further because this 3 bedroom 2 bath single family home is well equipped with a big backyard that will be perfect for enjoying the wonderful Florida weather. The Samsung Stainless steel kitchen appliances were purchased and installed in 2016 and the garage is oversized and ready for your vehicles, workshop or storage of all that wonderful stuff that we tend to accumulate over the years. Call to arrange a showing. You need to see this one in person to understand how quiet and private things are in this hidden neighborhood. 10 Miles to Siesta Key Beach. 9 Miles to the UTC Mall. 2 Miles to Publix.

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: Golf Club Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $101k409k

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

Neighborhood: Golf Club Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12942642

* 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
Tatum Ridge Elementary School Primary Regular 669 46 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Tatum Ridge Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 46
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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,273
Property Tax -$323
Property Insurance -$122
Property Management Fees -$129
CASH FLOW
-$67

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.

$345,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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$5.0k$10k$15k

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$22,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2753$1,3504$1,6005$1,780
$1,780
RENT COMPS ANALYSIS
  • 3744 Wake Ave Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.26
    •  
  • 6760 Mauna Loa Blvd Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1981
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
  • 6728 Mauna Loa Blvd Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1981
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.95
    •  
  • 4057 Vana Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1981
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.12
    •  
  • 4136 Ponea Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
PROPERTY LISTING DETAILS
Ian Mcpherson
1.941.320.0999
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485048
Last Updated: 12/04/2020
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