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4690 Hamlets Grove Dr Sarasota, FL 34235

3 Beds 2 Baths 1,592 sqft Built 1989

$319,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $200.38
  • 3 Days on Market
  • MLS # : A4485329
  • Updated Date : 12/05/2020 at 10:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

Gorgeous, move in ready updated 3 bedroom, 2 bath home in desirable Hamlets Grove. The kitchen is a chef's dream and features granite counters, wood cabinets, stainless steel appliances and is open to the great room and dining room. This seasonally used home is light and bright and has ceramic tile in the main living areas, wood like laminate flooring in the bedrooms, updated bathrooms and an inside utility room with built in cabinets for extra storage. A new roof was put on in 2019 and the air conditioner and hot water heater were replaced in 2017. The kitchen appliances are 5 years old and washer and dryer are only 4 years old. The spacious, fenced in back yard is very private and allows for plenty of room to add a pool. The neighborhood is centrally located with easy access to the University Parkway corridor, I75, the beaches, downtown and all the wonderful amenities that Sarasota has to offer. Priced to sell!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hamlets Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k332k

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

Neighborhood: Hamlets Grove

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11792065

* 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
Emma E. Booker Elementary School Primary Regular 554 44 2
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Emma E. Booker Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 44
2
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
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,177
Property Tax -$298
Property Insurance -$134
HOA -$58
Property Management Fees -$129
CASH FLOW
-$96

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.

$319,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 6.1%
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-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$17,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,703

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6993$1,7004$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 4690 Hamlets Grove Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 5413 Capitan Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1973
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 4005 Prado Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.14
    •  
  • 4022 Felipi Ln Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 4836 Barcelona Ave Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1978
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.09
    •  
PROPERTY LISTING DETAILS
Gina Wallwork, Llc
1.941.954.5454
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485329
Last Updated: 12/05/2020
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