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4410 Charing Cross Rd Sarasota, FL 34241

3 Beds 2 Baths 1,914 sqft Built 1978

$339,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1978
  • Price/Sqft : $177.12
  • 2 Days on Market
  • MLS # : A4482526
  • Updated Date : 11/02/2020 at 12:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,914 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

BENT TREE, deal of deals. 3 bedroom, 2 bath split plan pool home Living & dining rooms, family room, kitchen with breakfast bar & new stainless appliances (on order), indoor utility & 2 car garage. Diagonal tile throughout main rooms & new carpet in each bedroom & newer roof. Property is located on large corner lot in sought after Bent Tree Village. Don't miss this bargain.

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: Bent Tree Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k433k

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

Neighborhood: Bent Tree Village

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
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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,251
Property Tax -$317
Property Insurance -$153
HOA -$29
Property Management Fees -$80
CASH FLOW
$300

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.

$339,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 5.5%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$62,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,125

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1304$2,2005$2,275
$2,275
RENT COMPS ANALYSIS
  • 4410 Charing Cross Rd Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.11
    •  
  • 3922 De Foe Sq Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 1981
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.08
    •  
  • 4075 Southwell Way Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 1977
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.03
    •  
  • 4134 Southwell Way Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1976
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.16
    •  
  • 4728 Charing Cross Rd Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1979
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.17
    •  
PROPERTY LISTING DETAILS
Joe Holleran
1.941.302.9333
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482526
Last Updated: 11/02/2020
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