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5353 Starwood Pl Sarasota, FL 34232

3 Beds 2 Baths 1,722 sqft Built 1963

$325,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $188.73
  • 1 Days on Market
  • MLS # : A4506168
  • Updated Date : 07/13/2021 at 14:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,722 sqft
  • Baths : 2 full
Listing Agent

Re/max Platinum Realty

Listing Agent's Description

Wait until you see this adorable three bedroom, two bath MidCentury modern home in the center of Sarasota! This home is situated on a large fenced corner lot and has an additional paver parking pad. As you enter the home from the front patio, you will fall in love with the beautifully refinished terrazzo floors! You'll be delighted to see this home has a huge open concept with the living, dining, and kitchen flowing seamlessly together. The three bedrooms are each a good size with ceiling fans and laminate wood floors. The kitchen has white cabinetry and includes all stainless steel appliances. The low-maintenance, fenced backyard includes a large brick paver patio and tropical landscaping; perfect for entertaining. Roof was replaced in Oct/2010, windows in 2005 with shutters in 2008. Ridgewood Estates is located just north of Bee Ridge Road, close to shopping, restaurants, parks, medical facilities, Siesta Key Beach and easy access to I-75. Whether it's a first home, your forever home, a vacation home, or an investment property, the opportunities are endless! Come see this one before it's gone!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,129
Property Tax -$311
Property Insurance -$142
HOA -$2
Property Management Fees -$129
CASH FLOW
$318

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.

$325,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.62%

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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$55,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,045

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$2,0004$2,0305$2,100
$2,100
RENT COMPS ANALYSIS
  • 5353 Starwood Pl Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.18
    •  
  • 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 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
  • 5357 Skyline Pl Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1968
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.15
    •  
  • 5528 Homewood Pl Sarasota, FL 3
    • 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 1974
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
  • 4117 Center Gate Blvd Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1979
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.28
    •  
PROPERTY LISTING DETAILS
Jessica Bow
1.941.356.2585
Re/max Platinum Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4506168
Last Updated: 07/13/2021
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