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4231 Berkshire Dr Sarasota, FL 34241

3 Beds 3 Baths 2,302 sqft Built 1989

$349,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $152.00
  • 3 Days on Market
  • MLS # : A4489333
  • Updated Date : 01/23/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,302 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ms Realty Mickey Schweitzer & Associates Llc

Listing Agent's Description

Lake Sarasota - Custom 2-Story Home over 2300 AC Sq.Ft -3-Bedrooms, 2.5 Baths + 2-Car Garage, Formal Dining / Living Room + Kitchen w/ Breakfast Dinette - Family Room with Fireplace, Opens to a Large Screened Patio + Outside Patio as Well! All Bedrooms Upstairs an all Very Spacious!, Master Bedroom has a Large Wooden Balcony Deck Overlooking your Private Back Yard with Peek-a=Poo Views of Bent Tree Golf Course! This is a Custom Home Very Unigue Floorplan Seller's Updated the Kitchen & Baths w/ Stone Counters & Recently Painted Inside & Out to Make your New Home Move in Ready Condition!! Yard is Well Maintained and Nicely Landscaped too! Make an Appointment to See this Great Home Today!

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: Lake Sarasota

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k306k

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

Neighborhood: Lake Sarasota

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11342059

* 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
Lakeview Elementary School Primary Regular 606 40 10
Sarasota Middle School Middle Regular 1,270 80 9
Sarasota High School High Regular 2,110 106 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 40
10
GreatSchools Rating

Sarasota Middle School

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

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,215
Property Tax -$327
Property Insurance -$177
Property Management Fees -$129
CASH FLOW
$261

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.

$349,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 6.7%
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

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$50,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,354

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0953$2,1104$2,4005$2,435
$2,435
RENT COMPS ANALYSIS
  • 4231 Berkshire Dr Sarasota, FL 3
    • 3 beds 3 baths ∙ 2,302 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,302 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.92
    •  
  • 4271 Southwell Way Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1978
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 4190 Keats Dr Sarasota, FL 2
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 1977
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.87
    •  
  • 3947 De Foe Sq Sarasota, FL 4
    • 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,134 Sqft ∙ Built 1978
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.12
    •  
  • 4848 Hawkshead Park Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1977
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,435
    • $1.11
    •  
PROPERTY LISTING DETAILS
Mickey Schweitzer
1.941.914.2460
Ms Realty Mickey Schweitzer & Associates Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4489333
Last Updated: 01/23/2021
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