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4280 Balmoral Way Sarasota, FL 34238

4 Beds 3 Baths 2,365 sqft Built 1994

INVESTimate

$419,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$434,671  ( +3.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $177.17
  • 8 Days on Market
  • MLS # : A4475014
  • Updated Date : 08/25/2020 at 10:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,365 sqft
  • Baths : 3 full
Listing Agent

Cp Realty International

Listing Agent's Description

THIS LOVELY HOME IS PROBABLY ONE OF THE BEST VALUES IN STONEYBROOK, IF NOT PALMER RANCH!!! Come live the Florida lifestyle to its fullest in this spacious 4 bedroom 3 bath + POOL + SPA home located behind the gates of the very much sought after community of Stoneybrook Estates on beautiful Palmer Ranch. This elegant home's curb appeal is just the beginning as you pull up to the spacious driveway (freshly reconditioned) leading you to the generous size 3 CAR GARAGE. The home has completely been repainted inside and out with today's color palette in mind along with brand new carpeting in all bedrooms. Almost 2400 square feet of comfort filled with natural light throughout, a very smart floor plan with high ceilings with access to the pool area from most rooms in the home (including the 3rd bathroom) The updated and open kitchen with granite counter tops, right in the heart of the home in addition to spacious lanai covered area, overlooking the larger than most very inviting and very private pool and spa, make this home ideal for entertaining and family gatherings all throughout the year. Its location is the icing on the cake!! All within a very short distance to great shopping, entertaining and world class dining, not to mention the wonderful Legacy Trail just around the corner and the gorgeous Siesta Key Beach a few minutes away. Pay as you play golf courses within minutes of the residence as well. make an appointment today before it's too late ! Put the following address in your browser for the virtual tour : https://tinyurl.com/y6fy7wns

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Stoneybrook at Palmer Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Stoneybrook at Palmer Ranch

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12942642

* 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
Laurel Nokomis School Primary Regular 1,024 85 9
Laurel Nokomis School Middle Regular 1,024 85 9
Venice High School High Regular 1,941 96 8

Laurel Nokomis School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Laurel Nokomis School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,546
Property Tax -$392
Property Insurance -$181
HOA -$87
Property Management Fees -$80
CASH FLOW
$154

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.

$419,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.74%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$50,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,400

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,3003$2,4404$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 4280 Balmoral Way Sarasota, 3
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.03
    •  
  • 591 Oak Bay Dr Osprey, 1
    • 3 beds 4 baths ∙ 2,416 Sqft ∙ Built 1998 3 beds 4 baths ∙ 2,416 Sqft ∙ Built 1998
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.92
    •  
  • 9552 Hawksmoor Ln Sarasota, 2
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1994
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 4148 Hearthstone Dr Sarasota, 4
    • 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 1992
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
  • 4190 Hearthstone Dr Sarasota, 5
    • 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,471 Sqft ∙ Built 1993
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.09
    •  
PROPERTY LISTING DETAILS
Claude Pierre
1.941.685.8441
Cp Realty International
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475014
Last Updated: 08/25/2020
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