Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4680 Cronin Dr Sarasota, FL 34232

3 Beds 2 Baths 1,123 sqft Built 1973

$262,500

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $233.75
  • 4 Days on Market
  • MLS # : W7830522
  • Updated Date : 02/05/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,123 sqft
  • Baths : 2 full
Listing Agent

Listwithfreedom.com

Listing Agent's Description

Welcome Home! Come see this beautiful 3/2 home that is ready to welcome home its new buyers. New Luxury Vinyl flooring throughout. Charming kitchen featuring shaker cabinets and granite countertops with stainless steel appliances. The home has just been repainted and new baseboards installed as well. Schedule a showing today for this beauty.

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: Sarasota Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $88k306k

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

Neighborhood: Sarasota Springs

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10322059

* 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
Brentwood Elementary School Primary Regular 672 53 4
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Brentwood Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 53
4
GreatSchools Rating

Mcintosh Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 50
5
GreatSchools Rating

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$236,250$288,750$262,500

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$912
Property Tax -$245
Property Insurance -$105
Property Management Fees -$129
CASH FLOW
$169

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.

$262,500

PROJECTED PRICE

$1,560

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,313

INVESTMENT

$75,313

Down Payment
$65,625
Rehab Estimate
$5,750
Closing Costs
$3,938

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$912

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,625
Loan Amount $196,875
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$35,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,6503$1,6954$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 4680 Cronin Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.39
    •  
  • 4027 Condor Ln Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,187 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,187 Sqft ∙ Built 1959
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.39
    •  
  • 4604 Brooksdale Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1968
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.31
    •  
  • 3739 Bond Pl Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,192 Sqft ∙ Built 1980
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.43
    •  
  • 2240 Mystic Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.42
    •  
PROPERTY LISTING DETAILS
Ralph Harvey
1.855.456.4945
Listwithfreedom.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830522
Last Updated: 02/05/2021
BESbswy