Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3937 Prado Dr Sarasota, FL 34235

3 Beds 2 Baths 1,384 sqft Built 1971

$265,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $191.47
  • 3 Days on Market
  • MLS # : A4482781
  • Updated Date : 11/06/2020 at 21:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,384 sqft
  • Baths : 2 full
Listing Agent

Century 21 Integra Realty

Listing Agent's Description

This super charming home with tons of curb appeal and welcoming landscape is located on a quiet street in the popular De Soto Lakes neighborhood with no deed restrictions, no HOA, no CDDS. Central location and close to everything Sarasota has to offer. Lovingly owned and maintained by the same owners since 1972! This beautiful home offers 3 bedrooms, 2 full baths, 2 car attached garage, living room and separate dining/family or bonus room. Home features include a fenced backyard, aluminum storage shed and fully insulated attic, blown in fiberglass R-30, Culligan water softener, whole house 14kW Kohler automatic generator with 250 gal. propane tank, Bosch dishwasher, Whirlpool washer & dryer and 13.7 cu. ft Kenmore upright freezer, 40 gal. hot water heater installed in 2016 and video security system with DVR (4 cameras plus smart doorbell.) Another Bonus: Hurricane panels for entire home - a mix of wood panels for the windows, corrugated plexiglass clear panels for the large living room windows, and corrugated steel for the sliders to the lanai (quick install/removal, no nailing). Lanai has sliding vinyl/removable panels, so the lanai can be completely enclosed. Close to shopping, dining, and museums. Quick access to I-75 , UTC Mall, Benderson Park, University Pkwy, SRQ Airport, Lakewood Ranch, Downtown Sarasota or to our World Famous Beaches. Schedule your showing today!

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: 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$978
Property Tax -$248
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
$324

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.

$265,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.66%

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

12.42

YEARS SAVED

$59,986

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,536

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,699
1$1,6992$1,7003$1,7504$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 3937 Prado Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.26
    •  
  • 4005 Prado Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.14
    •  
  • 4022 Felipi Ln Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973
    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
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.09
    •  
  • 4440 Beauchamp Ct Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1989
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.18
    •  
PROPERTY LISTING DETAILS
Leigh Ann Grooms
1.941.527.8700
Century 21 Integra Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482781
Last Updated: 11/06/2020
BESbswy