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4760 Meredith Ln Sarasota, FL 34241

3 Beds 3 Baths 1,936 sqft Built 1977

$416,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $214.88
  • 4 Days on Market
  • MLS # : O5929529
  • Updated Date : 03/12/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,936 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Sarasota two-story cul-de-sac home offers a two-car garage.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

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
 

$374,400$457,600$416,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,445
Property Tax -$389
Property Insurance -$155
HOA -$29
Property Management Fees -$129
CASH FLOW
-$37

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.

$416,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.51%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,990

INVESTMENT

$115,990

Down Payment
$104,000
Rehab Estimate
$5,750
Closing Costs
$6,240

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,445

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,000
Loan Amount $312,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$24,554

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,105

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,1104$2,2005$2,275
$2,275
RENT COMPS ANALYSIS
  • 4760 Meredith Ln Sarasota, FL 3
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.09
    •  
  • 4075 Southwell Way Sarasota, FL 1
    • 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
    •  
  • 4271 Southwell Way Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 1978
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 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
Alli Johnston
1.407.634.1744
Opendoor Brokerage Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5929529
Last Updated: 03/12/2021
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