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3935 Berkshire Dr Sarasota, FL 34241

3 Beds 2 Baths 1,545 sqft Built 1960

$275,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $177.99
  • 5 Days on Market
  • MLS # : A4485820
  • Updated Date : 12/23/2020 at 21:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,545 sqft
  • Baths : 2 full
Listing Agent

Srq International Realty Llc

Listing Agent's Description

Location !!!!! Location !!!! , This home is perfect for first time home buyer or investor , almost 1545 sqft , this move-in ready home has been recently updated , new A/C , roof , windows and electric . The kitchen was remodeled few years ago . No HOA / No Deed Restrictions and plenty of room to park boat , RV or trailer . Great location with easy access to ,Restaurants , Downtown Sarasota and beach.

SEE MORE

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: Lake Sarasota

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k306k

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

Neighborhood: Lake Sarasota

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11342059

* 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
Lakeview Elementary School Primary Regular 606 40 10
Sarasota Middle School Middle Regular 1,270 80 9
Sarasota High School High Regular 2,110 106 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 40
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
 

$247,500$302,500$275,000

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 -$1,015
Property Tax -$257
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
$159

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.

$275,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 6.7%
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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$41,467

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
  • $1.09

    LIST RENT PER SQFT
  • $1,433

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,4003$1,6854$1,6905$1,750
$1,750
RENT COMPS ANALYSIS
  • 3935 Berkshire Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.09
    •  
  • 4146 Palau Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1980
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.84
    •  
  • 4715 Charing Cross Cir Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1978
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 5531 Homewood Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1974
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.96
    •  
  • 2501 Gerry Rd Sarasota, FL 5
    • 4 beds 2 baths ∙ 1,630 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,630 Sqft ∙ Built 1978
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
PROPERTY LISTING DETAILS
Kenia Clavelo Cruz
1.941.330.5931
Srq International Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485820
Last Updated: 12/23/2020
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