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4070 Tallevast Rd Sarasota, FL 34243

3 Beds 2 Baths 1,752 sqft Built 1987

$249,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $142.12
  • 19 Days on Market
  • MLS # : A4481473
  • Updated Date : 11/03/2020 at 20:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,752 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

This unique 3 bedroom 2 bath home is located near the University Corridor. Home is located on a main collector road (Tallevast Road) and has potential for commercial usage. Home offers a spacious 15,000 square feet lot with approximately 90 feet of frontage on Tallevast Road. Excellent opportunity for an investment or first time home owner who does not mind a little sweat equity.

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

Zip Code: 34243

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k319k

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

Zip Code: 34243

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792164

* 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
Kinnan Elementary School Primary Regular 656 41 3
Braden River Middle School Middle Regular 977 56 5
Southeast High School High Regular 1,457 68 5

Kinnan Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
3
GreatSchools Rating

Braden River Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 56
5
GreatSchools Rating

Southeast High School

  • Education Level: High
  • # of students: 1,457
  • # of teachers: 68
5
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$919
Property Tax -$272
Property Insurance -$143
Property Management Fees -$80
CASH FLOW
$366

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.

$249,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.6%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$61,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7803$1,8454$2,350
$2,350
RENT COMPS ANALYSIS
  • 4070 Tallevast Rd Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.02
    •  
  • 5413 Capitan Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1973
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 3652 Prado Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1956
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.07
    •  
  • 7710 Thunderbird Cir Sarasota, FL 4
    • 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1972 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1972
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.14
    •  
PROPERTY LISTING DETAILS
Gabe Gadah
1.941.376.4229
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4481473
Last Updated: 11/03/2020
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