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4021 Olive Ave Sarasota, FL 34231

3 Beds 2 Baths 1,560 sqft Built 1988

$339,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $217.88
  • 3 Days on Market
  • MLS # : A4490038
  • Updated Date : 02/05/2021 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent

Premier Sothebys Intl Realty

Listing Agent's Description

Welcome home to this quintessential modern farmhouse. This move-in ready home, with 3 bedrooms and 2 baths plus a loft, is centrally located. You are sure to fall in love with this totally darling home offering newer vinyl floorings, updated kitchen (with newer appliances) and bathrooms, exposed wood ceiling, Laundry room/pantry, 2 car garage,and a metal roof. With the master suite on the main level, a fireplace in the family room, and a wonderful screened front porch, this home guarantees a warm welcome. Sliding doors lead you out back to the concrete patio, large yard and a new pavered fire pit area, all perfect for entertaining, or just relaxing with friends and pets. This home will not last long.

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: Flora Villa

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $101k306k

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

Neighborhood: Flora Villa

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11382059

* 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
Wilkinson Elementary School Primary Regular 483 40 4
Brookside Middle School Middle Regular 820 53 7
Riverview High School High Magnet 2,483 126 7

Wilkinson Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 40
4
GreatSchools Rating

Brookside Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 53
7
GreatSchools Rating

Riverview High School

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

$305,910$373,890$339,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,181
Property Tax -$318
Property Insurance -$132
Property Management Fees -$129
CASH FLOW
$11

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.

$339,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 10.5%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$24,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,759

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,7703$1,7954$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 4021 Olive Ave Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.13
    •  
  • 4011 Rockefeller Ave Sarasota, FL 1
    • 3 beds 1 baths ∙ 1,397 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,397 Sqft ∙ Built 1979
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 4348 Pasadena Cir Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
  • 2521 Jamaica St Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1978
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.15
    •  
  • 4054 Olive Ave Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1985
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.27
    •  
PROPERTY LISTING DETAILS
Jennifer Garrabrant
1.941.228.3554
Premier Sothebys Intl Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490038
Last Updated: 02/05/2021
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