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5432 Kensington St Sarasota, FL 34232

3 Beds 2 Baths 1,278 sqft Built 1979

INVESTimate

$249,000

List Price

$1,430

$1,287 - $1,573

Rent Est.

$268,223  ( +7.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $194.84
  • 4 Days on Market
  • MLS # : A4476117
  • Updated Date : 08/24/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,278 sqft
  • Baths : 2 full
Listing Agent

Harry Robbins Assoc Inc

Listing Agent's Description

This is the one! 3bd/2bth, block home that has been tastefully remodeled and move-in ready for under 250k! Oversized lot, great location near Target, Publix, and 3 minutes to interstate 75! Tile flooring throughout, renovated kitchen and bathrooms, and modern/farmhouse look including metal roof that was recently replaced complete this homes unique look and design.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Broadway

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300kPrice in $56k306k

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

Neighborhood: Broadway

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q210001100120013001400150016001700180019002000Rent in $9432059

* 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
Fruitville Elementary School Primary Regular 761 58 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Fruitville Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 58
8
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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$919
Property Tax -$233
Property Insurance -$114
Property Management Fees -$80
CASH FLOW
$84

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.

$249,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.72%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$29,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,422

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,4003$1,4304$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 5432 Kensington St Sarasota, 3
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.12
    •  
  • 1044 Coleman Ave Sarasota, 1
    • 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1984
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 2124 Vinson Ave Sarasota, 2
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.15
    •  
  • 2193 Cork Oak St E Sarasota, 4
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1988
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.20
    •  
  • 4487 Trails Dr Sarasota, 5
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1987
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.24
    •  
PROPERTY LISTING DETAILS
Mitchell Helmuth
1.941.302.4212
Harry Robbins Assoc Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4476117
Last Updated: 08/24/2020
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