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4531 Groveland Ave Sarasota, FL 34231

3 Beds 2 Baths 1,860 sqft Built 1990

$400,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $215.05
  • 4 Days on Market
  • MLS # : A4493815
  • Updated Date : 03/19/2021 at 05:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,860 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Classic Group

Listing Agent's Description

Location, Location, Location! This 3 bedroom 2 bathroom HIDDEN GEM is situated on a WATERFRONT lot on a quiet street in the heart of Sarasota, affording privacy and quick access to all the top area attractions. A bright and open living space is highlighted by Spanish influences, volume ceilings, a wood burning fireplace, skylights, and 2 sets of sliding glass doors focusing on the tranquil pond view. The updated open concept kitchen features granite counters, tile backsplash, breakfast bar island, white wooden cabinetry, and stainless steel appliances. A large screened deck spans the length of the living room and dining area and is the perfect spot to entertain, enjoy nightly dinners, and watch the wildlife that frequent the area. Rounding out the main level is a bedroom with a private balcony, and an adjacent full bathroom. Downstairs features a large master bedroom which takes advantage of the peaceful water view, a 3rd bedroom which makes a great home office with direct access to the fully fenced yard, and a spacious full bathroom with a washer and dryer. Maintenance is a breeze here with many updates having been done including a new long lasting metal roof in 2006, impact rated windows in 2011, sewer hookup in 2015, a kitchen update in 2015, new flooring in 2015, a new water heater in 2020, new Trex decking throughout the entire exterior including 2 balconies, rear patio, and front courtyard, a low maintenance Xeriscaped yard, and a recently painted exterior. This home is in walking distance to Bee Ridge park which features outdoor sports facilities, picnic areas, a playground & community garden, is in a highly rated school district, and offers easy access to HWY-41, I-75, Sarasota Memorial Hospital, Southside Village, Siesta Key Beach, Downtown Sarasota, and all that Sarasota has to offer! *Ask your Realtor® how you can walk this property from the comfort of your home using our Interactive 3D Showcase.*

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Flora Villa

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $101k306k

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

Neighborhood: Flora Villa

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11382059

* 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
Wilkinson Elementary School Primary Regular 483 40 4
Brookside Middle School Middle Regular 820 53 7
Riverview High School High Magnet 2,483 126 7

Wilkinson Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 40
4
GreatSchools Rating

Brookside Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 53
7
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,483
  • # of teachers: 126
7
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,389
Property Tax -$374
Property Insurance -$150
Property Management Fees -$129
CASH FLOW
-$122

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.

$400,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 10.5%
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$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,116

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9204$2,0505$2,200
$2,200
RENT COMPS ANALYSIS
  • 4531 Groveland Ave Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.03
    •  
  • 2726 Nassau St Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1974
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 4140 Augustine Ave Sarasota, FL 2
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1998
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.07
    •  
  • 5370 Matthew Ct Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 1995
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.22
    •  
  • 4806 Huntleigh Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1980
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
PROPERTY LISTING DETAILS
Toni Zarghami
1.941.404.9845
Keller Williams Classic Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4493815
Last Updated: 03/19/2021
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