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3927 Longhorn Dr Sarasota, FL 34233

3 Beds 1 Baths 1,012 sqft Built 1961

$195,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $192.69
  • 2 Days on Market
  • MLS # : A4484880
  • Updated Date : 11/29/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,012 sqft
  • Baths : 1 full
Listing Agent

New Door Real Estate Llc

Listing Agent's Description

Great for first time home buyers, or investors .Its tenant occupied, great for income.. New Roof and newer windows, floor recently replaced . Under $200K 3 bedroom house no association fee. Great school rates.. Central location . Just minute to the bus stop , shopping centers.

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MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $85k306k

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

Neighborhood: Southridge

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10862059

* 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
Ashton Elementary School Primary Regular 896 56 10
Sarasota Middle School Middle Regular 1,270 80 9
Sarasota High School High Regular 2,110 106 6

Ashton Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 56
10
GreatSchools Rating

Sarasota Middle School

  • Education Level: Middle
  • # of students: 1,270
  • # of teachers: 80
9
GreatSchools Rating

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$719
Property Tax -$182
Property Insurance -$98
Property Management Fees -$80
CASH FLOW
$240

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.

$195,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.68%

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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

12.42

YEARS SAVED

$43,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,040

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9003$1,1004$1,3205$1,400
$1,400
RENT COMPS ANALYSIS
  • 3927 Longhorn Dr Sarasota, FL 4
    • 3 beds 1 baths ∙ 1,012 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,012 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.30
    •  
  • 5139 Brookmeade Dr Sarasota, FL 1
    • 3 beds 1 baths ∙ 921 Sqft ∙ Built 1970 3 beds 1 baths ∙ 921 Sqft ∙ Built 1970
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.92
    •  
  • 3925 Mesa Ave Sarasota, FL 2
    • 3 beds 1 baths ∙ 924 Sqft ∙ Built 1960 3 beds 1 baths ∙ 924 Sqft ∙ Built 1960
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.97
    •  
  • 4539 Webber St Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,014 Sqft ∙ Built 1979
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.08
    •  
  • 2403 Vinson Ave Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1960
    property image
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
PROPERTY LISTING DETAILS
Isha Demir
1.941.932.2944
New Door Real Estate Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484880
Last Updated: 11/29/2020
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