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5310 Carmen Ave Sarasota, FL 34235

3 Beds 2 Baths 1,771 sqft Built 1981

$269,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $152.40
  • 3 Days on Market
  • MLS # : T3274945
  • Updated Date : 11/07/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Century 21 Beggins Enterprises

Listing Agent's Description

LOCATION , LOCATION LOCATION and Shopping GALORE! Although you're just minutes away from the fabulous shops at the UTC Mall, and Lakewood Ranch, you'll feel like you are in the country with this well maintained 1,771sq ft. home with 3 oversized bedrooms, 2 bathrooms, spacious dining room and family room, nestled between a majestic oak and mature pine trees. HOME WARRANTY PROVIDED TO BUYER! NO HOA, NO CDD. Picture yourself cooking in this kitchen and relaxing in the spacious back yard. Better still, enjoy the area's fine dining or long walks at Nathan Benderson Park, home of the Rowing Championships. Buy this home and be minutes away from interstate 75, Just 4.1 miles from Sarasota /Bradenton Airport (SRQ), 5 miles from the Baltimore Orioles Spring Training Facility, (Ed Smith Stadium), 4.4 miles from the Ringling Museum, 5.2 miles from the Ringling College of Art & design, 6.7 miles from downtown Sarasota, 6.8 miles from the Selby Botanical Gardens, 9.2 miles from St. Armand's Circle, 9.7miles from Lido Beach, and only 12.7 short miles from Siesta Key. So much to do, so little time. Coveted, Desoto Lakes area homes are not available often, so grab this one before it's gone!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: De Soto Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $95k306k

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

Neighborhood: De Soto Lakes

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11362059

* 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
Emma E. Booker Elementary School Primary Regular 554 44 2
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Emma E. Booker Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 44
2
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$996
Property Tax -$252
Property Insurance -$145
Property Management Fees -$80
CASH FLOW
$407

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.

$269,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 9.1%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

13.42

YEARS SAVED

$68,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7754$1,8805$2,200
$2,200
RENT COMPS ANALYSIS
  • 5310 Carmen Ave Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.06
    •  
  • 5413 Capitan Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1973
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 4022 Felipi Ln Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 4836 Barcelona Ave Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1978
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.09
    •  
  • 5781 Forester Oak Ct Sarasota, FL 5
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 1989
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
PROPERTY LISTING DETAILS
Regina Mann
1.941.465.5946
Century 21 Beggins Enterprises
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274945
Last Updated: 11/07/2020
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