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3827 65th Ave E Sarasota, FL 34243

4 Beds 3 Baths 2,385 sqft Built 2006

$365,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $153.04
  • 3 Days on Market
  • MLS # : A4482500
  • Updated Date : 11/02/2020 at 10:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,385 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Rave reviews are coming from this 4 BR 3 Bath home with 3 car garage. Split floor plan ideal for multi-generational family or those just wanting plenty of space. Very well maintained, immaculate. Volume ceilings and open plan. Newer floors. Large screened lanai and over sized fenced yard. Master bedroom has 2 walk-in closets and adjoining luxurious bath. The chef in the family will love the spacious kitchen with cherry cabinets with pull-out drawers, 2 breakfast bars, newer stainless appliances, pantry. Light and bright floor plan is well suited for entertaining. Enjoy everyday living in family room which overlooks lanai and backyard. Community pool. Very convenient location just off University corridor with shopping, medical, restaurants, UTC Mall, and international airport. Easy access to 301 and I-75. Just minutes from downtown Sarasota and beaches. This is NOT Cascades over 55 community. HOA includes Spectrum cable and internet, irrigation, alarm monitoring, reserves, community pool. Sold As Is but no known defects. Please wear a mask.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 34243

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k319k

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

Zip Code: 34243

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792164

* 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
Kinnan Elementary School Primary Regular 656 41 3
Braden River Middle School Middle Regular 977 56 5
Southeast High School High Regular 1,457 68 5

Kinnan Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
3
GreatSchools Rating

Braden River Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 56
5
GreatSchools Rating

Southeast High School

  • Education Level: High
  • # of students: 1,457
  • # of teachers: 68
5
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,347
Property Tax -$418
Property Insurance -$182
HOA -$142
Property Management Fees -$80
CASH FLOW
$131

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.

$365,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.6%
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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$41,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,284

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1953$2,3004$2,3955$2,600
$2,600
RENT COMPS ANALYSIS
  • 3827 65th Ave E Sarasota, FL 3
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 4625 Cedar Brush Ter Sarasota, FL 1
    • 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2016
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 6009 39th Ct E Bradenton, FL 2
    • 3 beds 2 baths ∙ 2,429 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,429 Sqft ∙ Built 2004
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
  • 3607 65th Ave E Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2005
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.99
    •  
  • 5353 Creekside Trl Sarasota, FL 5
    • 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 2002
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lynn Luken
1.941.685.7084
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482500
Last Updated: 11/02/2020
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