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3942 Spyglass Hill Rd Sarasota, FL 34238

3 Beds 2 Baths 2,128 sqft Built 1984

$489,900

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $230.22
  • 7 Days on Market
  • MLS # : A4484514
  • Updated Date : 11/24/2020 at 20:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,128 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

This charming home delights all senses. Positioned on a premium lot with wide views of the world-famous TPC Golf Course at Prestancia and great separation from neighbors, this 3 bed 2 bath home offers nearly 2200 sq ft of classic, luxurious living. Bathed in natural light, this space is open, happy, bright & inviting. Lovingly cared for & meticulous maintained the home offers a completely renovated kitchen, master bath and guest bath. The totally renovated kitchen (2012) features beautiful Diamond wood cabinetry with soft closing drawers & doors, Bosch appliances, pendant lighting, complemented with carefully selected granite all chosen to support the most creative & enjoyable cooking experience. The gracious living room area offers expansive views of the oversized pool and TPC golf course. The family room is warm & welcoming featuring a wood burning fireplace & ample room to relax. Entertain in the formal dining room or gather around the breakfast table just off the kitchen. The master suite brims with serenity offering a large walk-in closet, crown molding & great natural lighting. A richly renovated master bath completes this warm retreat. The handsome tile roof was replaced in 2007, the 2007 Trane A/C is maintained regularly. An extraordinary golfing community of the highest caliber, Country Club of Sarasota is paradise found for golfer and non-golfer alike & is now home to Sarasota Sports Club, a private tennis and fitness club featuring 19 HarTru tennis courts (15 lighted), a beautiful fitness facility with state of the art equipment, a junior Olympic-sized pool, a bar/restaurant & member events for all ages, interests & skill levels. Membership is optional. Close to Sarasota Square mall, Costco, restaurants, Legacy Trail, new library, YMCA & Siesta Beach. Your search is over, welcome home!

SEE MORE

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: Country Club of Sarasota

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $123k618k

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

Neighborhood: Country Club of Sarasota

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21400160018002000220024002600280030003200Rent in $12943244

* 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
Gulf Gate Elementary School Primary Regular 753 53 7
Sarasota Middle School Middle Regular 1,270 80 9
Riverview High School High Magnet 2,483 126 7

Gulf Gate Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 53
7
GreatSchools Rating

Sarasota Middle School

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

Riverview High School

  • Education Level: High
  • # of students: 2,483
  • # of teachers: 126
7
GreatSchools Rating
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,808
Property Tax -$431
Property Insurance -$167
HOA -$125
Property Management Fees -$80
CASH FLOW
$100

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.

$489,900

PROJECTED PRICE

$2,710

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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

PROJECTED ANNUAL CASH FLOW

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

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$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$50,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,128

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,3954$2,5005$2,710
$2,710
RENT COMPS ANALYSIS
  • 3942 Spyglass Hill Rd Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.27
    •  
  • 7357 Featherstone Blvd Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 3618 Torrey Pines Way Sarasota, FL 2
    • 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 4901 Flagstone Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2000
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.09
    •  
  • 3842 Kingston Blvd Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1985
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
PROPERTY LISTING DETAILS
Nancie Kalin
1.941.928.8833
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484514
Last Updated: 11/24/2020
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