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4301 Brazilnut Ave Sarasota, FL 34234

4 Beds 3 Baths 1,302 sqft Built 2004

$260,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $199.69
  • 7 Days on Market
  • MLS # : A4481673
  • Updated Date : 11/01/2020 at 16:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,302 sqft
  • Baths : 3 full
Listing Agent

Srq International Realty Llc

Listing Agent's Description

Welcome to this beautifully 4 bedrooms, 3 baths home in Sarasota. Located just minutes from Downtown Sarasota. There are several upgrades that make this home truly move-in ready and an incredible value, beautiful update kitchen including stainless steel appliances and granite counter-tops, wall to wall tile flooring, The updated kitchen opens up to a large living/dining room perfect for entertaining or simply relaxing after a long day. The 4th bedroom includes a private bathroom, a small kitchen, and an independent entrance. New impact windows, PVC fence and a screened-in covered lanai, well system used to water the yard & fruit trees for free and you can be used to wash your boat for free! Public water & public sewer, No Flood zone. No HOA fees Call today to schedule a showing.

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

Neighborhood: Beverly Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180k200k220k240k260k280k300kPrice in $37k306k

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

Neighborhood: Beverly Terrace

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9132059

* 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
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
GreatSchools Rating

Booker Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 62
4
GreatSchools Rating

Booker High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 69
4
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$959
Property Tax -$243
Property Insurance -$105
Property Management Fees -$80
CASH FLOW
$43

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.

$260,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$25,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,251

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,5953$1,595
$1,595
RENT COMPS ANALYSIS
  • 4301 Brazilnut Ave Sarasota, FL 1
    • 4 beds 3 baths ∙ 1,122 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,122 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.27
    •  
  • 4902 Ithaca Ln Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1994
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.11
    •  
  • 2220 Seward Cir Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1985
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.12
    •  
PROPERTY LISTING DETAILS
Valeri Gonzales
1.941.306.9302
Srq International Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4481673
Last Updated: 11/01/2020
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