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4773 Ringwood Mdw Sarasota, FL 34235

3 Beds 2 Baths 1,840 sqft Built 1980

$460,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $250.00
  • 4 Days on Market
  • MLS # : A4494801
  • Updated Date : 03/19/2021 at 18:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,840 sqft
  • Baths : 2 full
Listing Agent

Hunt Brothers Realty, Inc.

Listing Agent's Description

IMMEDIATE OCCUPANCY AVAILABLE: Located on the Highlands golf course in the active Meadows Golf and CC community, this renovated single-family home has gorgeous golf course views and amazing sunsets! Mechanical Updates include; new roof 2016, hurricane windows 2015, AC Compressor 2020, and AC Handler 2018. The interior was tastefully renovated in 2013; the pictures speak for themselves. This three-bedroom, plus den or home office lives like new! The Meadows offers a fitness center, community pool, dining, pickleball courts, playground, 14 miles of nature trails, and pay-to-play tennis and golf. The Meadows location is outstanding, with easy access to Downtown Sarasota, UTC, I-75, and the sandy beaches we all love.

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: The Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k397k

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

Neighborhood: The Meadows

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100220023002400Rent in $11792412

* 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
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,598
Property Tax -$430
Property Insurance -$149
HOA -$107
Property Management Fees -$129
CASH FLOW
-$103

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.

$460,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.7%
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$20k

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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$21,977

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,332

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,3104$2,4955$2,800
$2,800
RENT COMPS ANALYSIS
  • 4773 Ringwood Mdw Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.26
    •  
  • 1397 Georgetowne Cir Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1983
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.06
    •  
  • 4842 Greencroft Rd Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1978
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 5452 Downham Mdws Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1994
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.27
    •  
  • 4535 Glebe Farm Rd Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 1977
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.52
    •  
PROPERTY LISTING DETAILS
Christopher Hunt
1.941.232.9614
Hunt Brothers Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494801
Last Updated: 03/19/2021
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