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4861 Bell Meade Dr Sarasota, FL 34232

3 Beds 2 Baths 1,345 sqft Built 1962

$229,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $170.26
  • 3 Days on Market
  • MLS # : A4483631
  • Updated Date : 11/13/2020 at 12:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,345 sqft
  • Baths : 2 full
Listing Agent

Beachy Properties

Listing Agent's Description

Finally an affordable 3/2 house in a great central Sarasota neighborhood. The roof was replaced in the past couple years and the fenced backyard is big! There are two storage sheds, a sitting area, fire pit, wood deck, huge screened porch, and a covered front porch. The property backs to a large drainage canal for added privacy. Inside the house are beautiful wood floors, custom built bench seating with storage, and a claw foot tub in the second bathroom. The carport is oversized, a big concrete drive, and there is a concrete block safe room. The location is fantastic, close to schools, shopping, I-75, and less than 10 miles to the beach.

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: Ridgewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $89k306k

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

Neighborhood: Ridgewood Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10562059

* 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
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$845
Property Tax -$219
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
$448

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.

$229,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 10.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

14.92

YEARS SAVED

$65,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,6994$1,7105$1,799
$1,799
RENT COMPS ANALYSIS
  • 4861 Bell Meade Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.27
    •  
  • 3106 Vinson Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1978
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 4604 Brooksdale Dr Sarasota, FL 2
    • 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
    •  
  • 3581 Lalani Blvd Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1968
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.38
    •  
  • 2834 Linwood Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1978
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.34
    •  
PROPERTY LISTING DETAILS
Barrett Webber
1.941.232.4157
Beachy Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483631
Last Updated: 11/13/2020
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