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4717 Watkins Ave Sarasota, FL 34233

3 Beds 2 Baths 1,323 sqft Built 2001

$300,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $226.76
  • 2 Days on Market
  • MLS # : A4483466
  • Updated Date : 11/14/2020 at 11:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,323 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Classic Group

Listing Agent's Description

Upgraded home in a central location. This home has 3 bedrooms, 2 baths, a 2 car garage with extended outdoor parking for a boat or a RV. Home has vaulted ceilings with recessed lighting, an open floor plan, new flooring throughout, crown molding and 6-inch baseboards. Fantastic Sarasota schools! 2018 roof with many new appliances. Kitchen and both baths have granite countertops and wooden cabinets; stainless steel appliances and even convection microwave oven! A separate dining room and dry bar area have impact windows installed and have double doors. The house sits on a corner lot, with private paved patio all fenced in. No HOA and no CDD fees. Located within 15 minutes of Siesta Key, near shopping centers and only 3 miles to I-75. Bike or walk the dog to Red Bug Slough Preserve and enjoy the several miles of hiking and biking trails. See feature sheet for all the upgrades. *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'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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Sunset

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Sunset

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $10002059

* 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
Sarasota Middle School Middle Regular 1,270 80 9
Riverview High School High Magnet 2,483 126 7

Wilkinson Elementary School

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

Sarasota Middle School

  • Education Level: Middle
  • # of students: 1,270
  • # of teachers: 80
9
GreatSchools Rating

Riverview High School

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

$270,000$330,000$300,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,107
Property Tax -$281
Property Insurance -$117
Property Management Fees -$80
CASH FLOW
$86

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.

$300,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.3%
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$16k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$34,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,442

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4003$1,6704$1,6995$1,795
$1,795
RENT COMPS ANALYSIS
  • 4717 Watkins Ave Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.26
    •  
  • 4459 Atlantic Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1983
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.12
    •  
  • 5438 Creeping Hammock Way Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1981
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 3923 Jamaica St Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1981
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.22
    •  
  • 4348 Pasadena Cir Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
PROPERTY LISTING DETAILS
Christopher Haeffele
1.941.404.9230
Keller Williams Classic Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483466
Last Updated: 11/14/2020
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