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5371 Mang Pl Sarasota, FL 34238

4 Beds 3 Baths 2,526 sqft Built 2011

$398,800

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $157.88
  • 2 Days on Market
  • MLS # : A4487379
  • Updated Date : 01/03/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,526 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home Realty & Management Llc

Listing Agent's Description

Large and lovely single-family home in maintenance-free gated community of Palmer Oaks on Palmer Ranch. The Hibiscus model is over 2,500 square feet with 4 bedrooms, 2.5 baths, 2 car garage. Spacious screened-in lanai overlooking pond. Easy living with maintenance-free landscaping and irrigation and the home includes hurricane shutters. Features include granite countertop kitchen, walk-in pantry, laundry room, formal dining and/or living and great rooms. Extra bonus room at top of stairs, master bedroom and three other bedrooms which could be perfect for a home office or den. Palmer Oaks has a community heated pool and offers easy access to I-75, Siesta Key and is a short distance to new dining and shopping options. Welcome home!

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

Zip Code: 34238

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Zip Code: 34238

ZipNIR Market*CityMarket20102015Year20082019 Q214001600180020002200240026002800Rent in $12942887

* 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
 

$358,920$438,680$398,800

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$1,471
Property Tax -$400
Property Insurance -$191
HOA -$201
Property Management Fees -$129
CASH FLOW
$298

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.

$398,800

PROJECTED PRICE

$2,690

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 2.9%
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$25k

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$111,432

INVESTMENT

$111,432

Down Payment
$99,700
Rehab Estimate
$5,750
Closing Costs
$5,982

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,471

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,700
Loan Amount $299,100
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$63,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,690

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,671

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5504$2,6905$2,790
$2,790
RENT COMPS ANALYSIS
  • 5371 Mang Pl Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.06
    •  
  • 6359 Sturbridge Ct Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1998
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.05
    •  
  • 8543 Karpeal Dr Sarasota, FL 2
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2011
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 4938 Avon Ln Sarasota, FL 3
    • 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,245 Sqft ∙ Built 1996
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.14
    •  
  • 6255 Sturbridge Ct Sarasota, FL 5
    • 4 beds 2 baths ∙ 2,638 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,638 Sqft ∙ Built 1999
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.06
    •  
PROPERTY LISTING DETAILS
Lisa Wu
1.941.343.7524
Home Realty & Management Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487379
Last Updated: 01/03/2021
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