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5317 Colony Meadows Ln Sarasota, FL 34233

3 Beds 2 Baths 1,771 sqft Built 1999

$310,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $175.04
  • 4 Days on Market
  • MLS # : A4484279
  • Updated Date : 11/20/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Key Solutions Real Estate Grp

Listing Agent's Description

Your dream home has arrived. Gorgeous Three-bedroom, 2 bath, with Office /Bonus room is a move-in ready Gem. Ready for your private viewing today. Well cared for home offering 1,771 ft.² of living space in a peaceful setting. Recent Updates include New ROOF 2018, Quartz countertops in Kitchen, New AC 2018. All bedrooms have sizable closets and laminate flooring. Stop by today. Outside you'll appreciate the oversized Lanai which has been screened in for your enjoyment. Come today and see all Sarasota has to offer, Arts and culture, shopping, highly rated quality of life, close proximity to medical facilities as well as the extremely popular Gulf Beaches. Schedule your private tour now.

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: Colony Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Colony Meadows

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12232642

* 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
Ashton Elementary School Primary Regular 896 56 10
Sarasota Middle School Middle Regular 1,270 80 9
Riverview High School High Magnet 2,483 126 7

Ashton Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 56
10
GreatSchools Rating

Sarasota Middle School

  • Education Level: Middle
  • # of students: 1,270
  • # of teachers: 80
9
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,483
  • # of teachers: 126
7
GreatSchools Rating
 

$279,000$341,000$310,000

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 -$1,144
Property Tax -$290
Property Insurance -$145
HOA -$17
Property Management Fees -$80
CASH FLOW
$205

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.

$310,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.3%
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$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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$48,670

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
  • $1,899

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8803$1,8954$1,9255$2,150
$2,150
RENT COMPS ANALYSIS
  • 5317 Colony Meadows Ln Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.06
    •  
  • 5220 Levi Ln Sarasota, FL 1
    • 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 7840 Limestone Ln #21-105 Sarasota, FL 3
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2009
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
  • 5564 Magnolia Blossom Ln Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2001
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.03
    •  
  • 5421 Cartagena Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2014
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.20
    •  
PROPERTY LISTING DETAILS
Cecilio Sanchez
1.917.721.4695
Key Solutions Real Estate Grp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484279
Last Updated: 11/20/2020
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