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3904 San Luis Dr Sarasota, FL 34235

4 Beds 2 Baths 1,568 sqft Built 1976

$319,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $204.02
  • 2 Days on Market
  • MLS # : A4492652
  • Updated Date : 02/27/2021 at 19:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

Fine Properties

Listing Agent's Description

Beautiful 4 bedroom, 2 bath home in desirable Desoto Lakes! Location, location, location! Conveniently located in a quiet family friendly neighborhood near the Interstate and just minutes to shopping and restaurants in the University area. This spacious home has a kitchen that opens to a large family room and a huge living/dining room combo; perfect for family evenings or entertaining! All stainless steel kitchen appliances are 5 years old or newer. There is plenty of outdoor storage with the second detached garage in the back of the house and lots of extra parking for utility vehicles. Enjoy relaxing in the screened in lanai and fenced in back yard!. The new roof in 2015, new AC in 2018, new water heater in 2018, and hurricane windows provide peace of mind for years to come. There is a tenant in place until May 31, 2021 - monthly rent is $1,695 and security deposit will transfer to new owner. This one won't last long!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: De Soto Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $95k306k

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

Neighborhood: De Soto Lakes

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11362059

* 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
Emma E. Booker Elementary School Primary Regular 554 44 2
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Emma E. Booker Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 44
2
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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,111
Property Tax -$299
Property Insurance -$132
Property Management Fees -$129
CASH FLOW
$19

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.

$319,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.1%
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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$23,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6993$1,7004$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 3904 San Luis Dr Sarasota, FL 1
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.08
    •  
  • 4005 Prado Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.14
    •  
  • 4022 Felipi Ln Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 4836 Barcelona Ave Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1978
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.09
    •  
  • 4041 Prado Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1974
    property image
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
PROPERTY LISTING DETAILS
Stephanie Balcita
1.215.620.7268
Fine Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4492652
Last Updated: 02/27/2021
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