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4230 Kingston Ct Sarasota, FL 34238

4 Beds 3 Baths 2,129 sqft Built 1985

$479,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $224.99
  • 5 Days on Market
  • MLS # : A4483362
  • Updated Date : 11/11/2020 at 20:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

19th Hole Properties

Listing Agent's Description

Beautiful and spacious 4 bedroom and 2.5 bath home in Gulf Gate East. This rarely available, large and open floor plan allows room for the expanding family as well as entertaining guests. The large pool and lanai area lead to a private fenced in backyard, which are great for family gatherings. The high ceilings compliment the open floor plan of the kitchen and living area. Relax in the large master bedroom with ensuite bathroom. Close to the Gulf Gate Library, grocery stores, beaches, golf courses, and I-75.

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

Neighborhood: Gulf Gate East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k376k

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

Neighborhood: Gulf Gate East

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000210022002300Rent in $11792379

* 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
Gulf Gate Elementary School Primary Regular 753 53 7
Sarasota Middle School Middle Regular 1,270 80 9
Riverview High School High Magnet 2,483 126 7

Gulf Gate Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 53
7
GreatSchools Rating

Sarasota Middle School

  • Education Level: Middle
  • # of students: 1,270
  • # of teachers: 80
9
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,483
  • # of teachers: 126
7
GreatSchools Rating
 

$431,100$526,900$479,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,767
Property Tax -$448
Property Insurance -$167
HOA -$20
Property Management Fees -$80
CASH FLOW
-$172

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.

$479,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 4.7%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$22,891

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,422

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,3003$2,3104$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 4230 Kingston Ct Sarasota, FL 3
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.09
    •  
  • 6719 Keystone Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1968
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 2736 Cardwell Way Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1971
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.14
    •  
  • 3842 Kingston Blvd Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1985
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
  • 4174 Kingston Way Sarasota, FL 5
    • 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 1984
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.37
    •  
PROPERTY LISTING DETAILS
Dale Ohara, Llc
1.941.320.1082
19th Hole Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483362
Last Updated: 11/11/2020
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