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4033 Berkshire Dr Sarasota, FL 34241

3 Beds 2 Baths 1,312 sqft Built 1986

INVESTimate

$275,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$293,480  ( +6.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $209.60
  • 3 Days on Market
  • MLS # : A4476217
  • Updated Date : 08/25/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Harry Robbins Assoc Inc

Listing Agent's Description

One or more photo(s) has been virtually staged. 3 bedroom 2 bath Lake Sarasota home with brand new roof, re-plumbed, and new laminate throughout. New kitchen with granite counter-tops, white shaker cabinets and stainless steel appliances. Master has a walk in closet and fully updated master bathroom with walk in/over-sized shower. Living space consists of an open floor plan with the living room, kitchen and dining area all contiguous. French doors leading out to a 23x12 covered patio with a view of the resurfaced pool and deck area. Also, there is a large 2 car garage and backyard is fully fenced. In addition to the new roof and new water and sewer lines throughout, the attic has new insulation, electric panel and new pool pump.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,015
Property Tax -$257
Property Insurance -$116
Property Management Fees -$80
CASH FLOW
$202

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

$1,670

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 6.72%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

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

10.08

YEARS SAVED

$46,605

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,502

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,6003$1,6504$1,6705$1,700
$1,700
RENT COMPS ANALYSIS
  • 4033 Berkshire Dr Sarasota, 4
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.27
    •  
  • 4057 Vana Dr Sarasota, 1
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1981
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.12
    •  
  • 4136 Ponea Dr Sarasota, 2
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1996
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
  • 4090 Malden Dr Sarasota, 3
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 3756 Wake Ave Sarasota, 5
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1997
    LEASED 02/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
PROPERTY LISTING DETAILS
Troy Robbins
1.941.356.1613
Harry Robbins Assoc Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4476217
Last Updated: 08/25/2020
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