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3775 Helene St Sarasota, FL 34233

3 Beds 2 Baths 1,422 sqft Built 1961

$275,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $193.39
  • 3 Days on Market
  • MLS # : A4486593
  • Updated Date : 12/19/2020 at 06:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,422 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

This beautifully updated home is in the perfect location central to all Sarasota has to offer. Just minutes from Downtown, Gulf beaches, and shopping, you will fall in love with this neighborhood. Among updates are notably the impact glass windows, a great addition to any home. This three bedroom home has great space, a very nicely sized fenced backyard and oversize utility closet. Don't forget the great schools as well- Don’t wait, schedule your showing of this fine home today!

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

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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,015
Property Tax -$266
Property Insurance -$123
Property Management Fees -$129
CASH FLOW
$87

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.

$275,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.59%

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$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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$33,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4253$1,6204$1,6995$1,775
$1,775
RENT COMPS ANALYSIS
  • 3775 Helene St Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.14
    •  
  • 4011 Rockefeller Ave Sarasota, FL 1
    • 3 beds 1 baths ∙ 1,397 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,397 Sqft ∙ Built 1979
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 4308 Hymount Ave Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1967
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.14
    •  
  • 3923 Jamaica St Sarasota, FL 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Drew Russell
1.941.993.3739
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4486593
Last Updated: 12/19/2020
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