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4216 75th Pl Sarasota, FL 34243

3 Beds 2 Baths 1,336 sqft Built 1997

$270,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $202.10
  • 4 Days on Market
  • MLS # : C7435652
  • Updated Date : 11/20/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,336 sqft
  • Baths : 2 full
Listing Agent

Mvp Realty Associates, Llc

Listing Agent's Description

**ASKING FOR BEST AND FINAL BY 5PM SUNDAY** Welcome home to Forest Pines. This home is move in ready! Roof replaced in 2017, water heater in 2016, a/c in 2014. When you walk in the first thing you notice is the beautiful vinyl flooring that perfectly matches to color scheme of the home. Oh, inside and outside were both painted within the last 2 years. As you continue in the home the kitchen stands out with stainless steel appliances, new counter tops, crown molding as well as plenty of cabinet space. Split floor plan allows privacy for the owners suite which features plank tile flooring throughout the room and bathroom. The bathroom by they way has been updated with tile shower and modern sink/vanity combo. On the other side of the home you have two large guest bedrooms with updated guest bathroom. Walk out the sliders to your large 30x10 lanai complete with brick pavers as well as being screened in for morning coffee or gatherings. There is even a ceiling fan out on the lanai to keep things cooler. Fenced backyard, inside laundry room and 2 car garage top off this complete move in ready package.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$996
Property Tax -$295
Property Insurance -$118
HOA -$35
Property Management Fees -$80
CASH FLOW
$176

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.

$270,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.63%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$41,841

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,480

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,5753$1,5754$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 4216 75th Pl Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.27
    •  
  • 3703 E 75th Ter Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 7810 34th Ct E Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1991
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.14
    •  
  • 3615 75th Ter E Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.11
    •  
  • 3910 78th Dr E Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1994
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.22
    •  
PROPERTY LISTING DETAILS
Christopher Shipe
1.941.914.6647
Mvp Realty Associates, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: C7435652
Last Updated: 11/20/2020
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