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3857 Wolverine St Sarasota, FL 34232

3 Beds 2 Baths 1,255 sqft Built 2014

$260,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $207.17
  • 4 Days on Market
  • MLS # : A4484238
  • Updated Date : 11/20/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,255 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Classic Group

Listing Agent's Description

Welcome to this charming home in the heart of Sarasota! This home has an open concept, featuring a gorgeous kitchen with plenty of storage, open to the dining area and living room. This home has 3 bedrooms, 2 bathrooms, a split floor plan and was built in 2014. Relax outside in your screened in porch or fenced in back yard - a great space for the children to play. Ceiling fans are located throughout, and the home has tile floors in the living area. Hurricane windows and doors are installed for added peace of mind. Prime location close to shopping, restaurants and I-75.

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 Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300kPrice in $55k306k

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

Neighborhood: Eastwood Oaks

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9392059

* 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$959
Property Tax -$275
Property Insurance -$113
Property Management Fees -$80
CASH FLOW
$173

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.

$260,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.7%
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$18k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$41,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5703$1,6004$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 3857 Wolverine St Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.27
    •  
  • 4776 Breezy Pines Blvd Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2000
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 766 Locklear Ave Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 1995
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.30
    •  
  • 1081 Whitegate Ct Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 2000
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 129 Tucker Ave Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 2012
    property image
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
PROPERTY LISTING DETAILS
Dawnelle Lanners
1.727.804.9228
Keller Williams Classic Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484238
Last Updated: 11/20/2020
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