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4926 Preston Way Sarasota, FL 34232

3 Beds 2 Baths 1,552 sqft Built 1986

$315,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $202.96
  • 2 Days on Market
  • MLS # : A4488577
  • Updated Date : 01/16/2021 at 13:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,552 sqft
  • Baths : 2 full
Listing Agent

Fine Properties

Listing Agent's Description

Fantastic opportunity to own a ready to move into, upgraded home located in a central, convenient area of Sarasota, just a short driving distance to any amenity your heart desires. This 3 bed/2 bath home features split bedrooms, open floor plan with not only a living and dining area outside of kitchen but an extra entertaining space/family game room. Garage and outdoor screened lanai area all located on large corner lot with fencing and an insulated/windowed shed for any additional toys that need a home! Wonderful ceramic tile throughout all main living areas, newer kitchen cabinets and granite countertops, newer upgraded bathrooms, newer windguard insulated impact windows (2019), and even decorative pine tongue and groove ceilings in game room and outdoor lanai. This home will not disappoint, and at this offered price this home will not be here to call on for long,.....don't hesitate ,schedule your appt. immediately!

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: Cedar Hollow North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $98k306k

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

Neighborhood: Cedar Hollow North

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10462059

* 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
Fruitville Elementary School Primary Regular 761 58 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Fruitville Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 58
8
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,094
Property Tax -$295
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
$271

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.

$315,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.7%
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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$49,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,9203$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 4926 Preston Way Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.24
    •  
  • 1081 Whitegate Ct Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 4487 Trails Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1987
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.24
    •  
  • 4681 Breezy Pines Blvd Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2000
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.43
    •  
  • 4040 Woodview Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1985
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.18
    •  
PROPERTY LISTING DETAILS
Kathy Carpenter
1.941.224.9193
Fine Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488577
Last Updated: 01/16/2021
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