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5210 Cedar Hammock Dr Sarasota, FL 34232

3 Beds 2 Baths 1,370 sqft Built 1983

$260,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $189.78
  • 4 Days on Market
  • MLS # : A4489602
  • Updated Date : 01/29/2021 at 15:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,370 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Select

Listing Agent's Description

A rare opportunity just popped on the market! 3 Bed/2 Bath home in Cedar Hammock—a neighborhood where houses aren't listed often—is officially for sale. Cedar Hammock's popularity rises from its low HOA fee (only $25/month), continuous increase in home values, and its close proximity to the interstate. Whether your family's lifestyle requires an escape to the beach or a work commute (or both), the central location is a great asset! This home features high vaulted ceilings, tile flooring throughout, a 2-car garage, and a huge screened-in lanai with personal backyard access. The roof and A/C are also newer, so you can plan to move in to your new home with a care-free mindset. Schedule an in-person showing today!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cedar Hammock

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Cedar Hammock

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9882059

* 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$903
Property Tax -$243
Property Insurance -$120
HOA -$25
Property Management Fees -$129
CASH FLOW
$270

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.

$260,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.7%
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$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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$44,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6904$1,7755$2,000
$2,000
RENT COMPS ANALYSIS
  • 5210 Cedar Hammock Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.23
    •  
  • 1075 Deer Hollow Way Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
  • 1081 Whitegate Ct Sarasota, FL 2
    • 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
    •  
  • 5810 Covington Way Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1995
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.21
    •  
  • 5211 Cedar Hammock Ct Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1984
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.43
    •  
PROPERTY LISTING DETAILS
Rachel Woodruff, Pa
1.941.705.8686
Keller Williams Realty Select
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4489602
Last Updated: 01/29/2021
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