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3877 Surrey Ct Sarasota, FL 34235

3 Beds 2 Baths 2,176 sqft Built 1988

$444,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $204.04
  • 2 Days on Market
  • MLS # : A4481921
  • Updated Date : 11/02/2020 at 19:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,176 sqft
  • Baths : 2 full
Listing Agent

Premier Sothebys Intl Realty

Listing Agent's Description

Gorgeous golf course views from this spectacular pool home located in The Meadows, a tranquil oasis 15 minutes from downtown. On a tucked-away cul-de-sac, manicured landscaping and a grand entry welcome you home. Inside, you will love the light streaming from the dome skylight, the high ceilings with crown-molding, beautiful neutral updates, all in pristine condition. The chef’s kitchen has been updated with Amber Fantasy granite counters, marble-mosaic backsplash, cherry wood cabinetry, Architect Series KitchenAid stainless including slide-in range with convection oven, Whisper-Quiet double-drawer dishwasher, oversized microwave and 25 cu.ft. counter-depth refrigerator. The luxurious master suite features marble-mosaic dual-sink vanities with Danze faucets, jetted tub and spacious Roman shower. Just outside is the spacious and private lanai with pool and spa, fireplace, TV, grilling and dining areas, plus a pergola with brick pavers accenting a bubbling fountain and serene side garden. All surrounded by gorgeous, sweeping golf course views and only a short ride to the optional Meadows Country Club. With a five-star location and on 1,650 park-like acres, The Meadows is a resort lifestyle community 15 minutes from downtown Sarasota. Residents enjoy a fitness center, Jr. Olympic pool, pickleball courts, dining venues, 14 miles of biking and hiking trails, and fun-filled activities, as well as pay-to-play golf and tennis. Plus, close vicinity to the country's award-winning beaches, world-class arts and culture, restaurants, entertainment and shopping, and just 2 miles from the mall at University Town Center: a world-class fashion and dining destination. A fabulous Florida lifestyle awaits you! 2019 A/C, 2008 garage door, 2005 30-yr shingle roof, GE Lexan hurricane panels, automated Honeywell exterior LED lighting, Smart Home controls for garage door, a/c and irrigation, seven(7)-zone security cameras with smart-phone access and world-wide remote control, DSC security alarm system throughout.

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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

Neighborhood: The Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k397k

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

Neighborhood: The Meadows

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100220023002400Rent in $11792412

* 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
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
GreatSchools Rating

Booker Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 62
4
GreatSchools Rating

Booker High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 69
4
GreatSchools Rating
 

$399,600$488,400$444,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$1,638
Property Tax -$458
Property Insurance -$170
HOA -$99
Property Management Fees -$80
CASH FLOW
$345

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.

$444,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.7%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,410

INVESTMENT

$123,410

Down Payment
$111,000
Rehab Estimate
$5,750
Closing Costs
$6,660

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,000
Loan Amount $333,000
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$76,347

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,736

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,4954$2,7005$2,790
$2,790
RENT COMPS ANALYSIS
  • 3877 Surrey Ct Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.28
    •  
  • 4096 Lyndhurst Ct Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1987
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.30
    •  
  • 2816 Breton Woods Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1992
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 5452 Downham Mdws Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1994
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.27
    •  
  • 4957 Taywater Dell Sarasota, FL 4
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.33
    •  
PROPERTY LISTING DETAILS
Fernando Viteri, Pa
1.941.400.7676
Premier Sothebys Intl Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4481921
Last Updated: 11/02/2020
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