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4272 Mackay Falls Ter Sarasota, FL 34243

3 Beds 2 Baths 2,369 sqft Built 2003

$435,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $183.62
  • 2 Days on Market
  • MLS # : A4490755
  • Updated Date : 02/07/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,369 sqft
  • Baths : 2 full
Listing Agent

Dalton Wade, Inc.

Listing Agent's Description

#JustAnotherDayInParadis in this Beautiful 3 bedroom, 2 bath plus den/office on private .23 acre cul-de-sac lot. Spacious, open floorplan includes enclosed sunroom with full glass sliders that maximize your view of the park-like backyard. Large, screened-in lanai with hot tub and pavers, new impact windows and flooring, new 15 SEER HVAC system, and new appliances. Gas cooking and heating. Crown molding and plantation shutters throughout, garage extension for additional storage, and an extended garage door, which allows you to park a large truck or SUV. Outside and inside of home were painted in 2020. Maintenance-free, gated community, with 24-hour manned security, offers many amenities including Olympic-sized pool, well-equipped fitness center, art room, billiards, and more. Clubhouse has recently undergone a $1M+ renovation. Lakeridge Falls is a very desirable and friendly 55+ active community--lots of clubs and planned activities to enjoy year-round. Close to shopping/restaurants, and minutes to Gulf Coast beaches, UTC mall, museums, all the arts entertainment and fun of Sarasota. Master bedroom with walk in closet and master bath with separate shower, soaking tub and water closet.

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
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,511
Property Tax -$475
Property Insurance -$181
HOA -$340
Property Management Fees -$129
CASH FLOW
-$116

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.

$435,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.58%

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-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,511

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$16,424

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,535

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,5004$2,5205$2,600
$2,600
RENT COMPS ANALYSIS
  • 4272 Mackay Falls Ter Sarasota, FL 4
    • 3 beds 2 baths ∙ 2,369 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,369 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.06
    •  
  • 4634 Classique Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1991
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 4452 Sage Green Ter Sarasota, FL 2
    • 3 beds 4 baths ∙ 2,323 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,323 Sqft ∙ Built 2017
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 8223 46th Ct E Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2002
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.15
    •  
  • 5353 Creekside Trl Sarasota, FL 5
    • 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 2002
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Edward Bieker
1.941.525.6473
Dalton Wade, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490755
Last Updated: 02/07/2021
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