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4218 73rd Ter E Sarasota, FL 34243

3 Beds 2 Baths 1,590 sqft Built 1998

$355,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $223.27
  • 3 Days on Market
  • MLS # : A4490609
  • Updated Date : 02/05/2021 at 13:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,590 sqft
  • Baths : 2 full
Listing Agent

Your Florida Lifestyle Realty Llc

Listing Agent's Description

This pristine lakefront pool home is waiting for you! Located in Quail Run which is just off the desirable University Parkway corridor. The Homeowners association fees are just $76 per quarter! No CDD fees! You’ll want to spend hours soaking up the sunshine in your large gas heated pool while enjoying the expansive lakeview and wonderful outdoor living space. There is an abundance of natural sunlight in this open floorpan with vaulted ceilings. The kitchen offers gas cooking with plenty of cabinets and countertops. The master suite is quite generous with two closets, a beautiful lakeview, double sinks and walk in shower. The office has a great built in desk with a gorgeous lakeview also! The guest rooms are on one side of the home with a pocket door for added privacy and the master suite is on the other side of the home. Nothing to do but move in! The air conditioner, washer, dryer, hot water tank and interior/exterior paint are all new within the past 5 years. Pool and deck were resurfaced within the last 2 years. The window coverings are plantation shutters and Hunter Douglas blinds. You will enjoy living, working and playing in this great home! Some furnishings are available under separate negotiations.

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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,233
Property Tax -$388
Property Insurance -$134
HOA -$25
Property Management Fees -$129
CASH FLOW
$32

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.

$355,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.55%

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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4503$1,5754$1,9405$2,100
$2,100
RENT COMPS ANALYSIS
  • 4218 73rd Ter E Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.22
    •  
  • 4903 Linsey Ct Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.87
    •  
  • 7230 35th Ln E Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2010
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 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
    •  
  • 7432 39th Ct E Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2001
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
PROPERTY LISTING DETAILS
Kathy Marlowe
1.941.232.4485
Your Florida Lifestyle Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490609
Last Updated: 02/05/2021
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