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4203 Hearthstone Dr Sarasota, FL 34238

3 Beds 2 Baths 2,185 sqft Built 1994

$405,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $185.35
  • 2 Days on Market
  • MLS # : A4482570
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,185 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Florida Realty

Listing Agent's Description

Amazing pond view as you walk through the double front doors of this beautiful 3 bedroom 2 bath home that sits on a quarter acre! You are also greeted with high ceilings and a complete open floorplan with tile throughout the living, kitchen and dining area. Entertain from your open kitchen and beautiful oversized island that offers pendant lighting, granite counter tops, stainless steel appliances and recessed lighting. Also comes complete with white shaker cabinets and valance molding with a modern backsplash. Enjoy the wood burning fireplace and inverted tray ceiling in your living room, plantation shutters, along with a double slider that opens up to a completely enclosed Florida Room. Master bedroom comes complete with laminate wood floors, inverted tray ceiling and planation shutters, along with a gorgeous on suite bathroom with dual vanity sinks, walk in shower and separate bath tub. Guest bedrooms also finished with laminate wood - guest bath also has a walk in shower. This home comes complete with a 2 car side load garage.

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: Huntington Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k497k

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

Neighborhood: Huntington Pointe

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2130014001500160017001800190020002100220023002400250026002700Rent in $12942748

* 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
Laurel Nokomis School Primary Regular 1,024 85 9
Laurel Nokomis School Middle Regular 1,024 85 9
Venice High School High Regular 1,941 96 8

Laurel Nokomis School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Laurel Nokomis School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,494
Property Tax -$379
Property Insurance -$170
HOA -$83
Property Management Fees -$80
CASH FLOW
$94

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.

$405,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 2.3%
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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$42,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,332

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3003$2,3004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 4203 Hearthstone Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
  • 4046 Westbourne Cir Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.13
    •  
  • 9552 Hawksmoor Ln Sarasota, FL 2
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1994
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 4148 Hearthstone Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 1992
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
  • 4190 Hearthstone Dr Sarasota, FL 5
    • 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1993
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.09
    •  
PROPERTY LISTING DETAILS
Gabrielle Channell
1.941.586.6234
Berkshire Hathaway Homeservices Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482570
Last Updated: 11/03/2020
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