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5711 Eastwind Dr Sarasota, FL 34233

3 Beds 3 Baths 2,470 sqft Built 2002

$468,900

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $189.84
  • 5 Days on Market
  • MLS # : W7829401
  • Updated Date : 12/24/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,470 sqft
  • Baths : 3 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Wonderful 3 bedroom, 3 bathroom, 2 car garage single story home in Sarasota. Upon arriving at this home, you are welcomed into a foyer that leads to a spacious formal living room/ dinning room with combo with high ceilings, and a large sliding door that leads to the porch. The kitchen is equipped with a large pantry, ample cabinet and counter space, and a large breakfast bar plus a breakfast nook. Overlooking the kitchen is the family room with high ceilings, tile floor and another large sliding door that leads to the outdoor living space. The primary bedroom features carpet, ceilings fan, sliding door for private access to the lanai, two large walk-in closets, and an en suite bathroom with double sinks, soaking tub, separate water closet and a walk-in shower. Outside, you can relax on your screened patio or splash around in your own private pool. Located in Sarasota, this home is convenient to shops, restaurants, Beaches and I-75 for an easy commute to Tampa and surrounding areas.

SEE MORE

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: Three Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $109k541k

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

Neighborhood: Three Oaks

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120014001600180020002200240026002800Rent in $11792811

* 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
Sarasota High School High Regular 2,110 106 6

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

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$422,010$515,790$468,900

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,730
Property Tax -$438
Property Insurance -$188
HOA -$38
Property Management Fees -$129
CASH FLOW
$37

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.

$468,900

PROJECTED PRICE

$2,560

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 3.6%
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$25k

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$130,009

INVESTMENT

$130,009

Down Payment
$117,225
Rehab Estimate
$5,750
Closing Costs
$7,034

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,225
Loan Amount $351,675
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$43,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,581

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5603$2,5954$2,6355$2,700
$2,700
RENT COMPS ANALYSIS
  • 5711 Eastwind Dr Sarasota, FL 2
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.04
    •  
  • 5511 Secluded Oaks Way Sarasota, FL 1
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2003
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
  • 5669 Country Walk Ln Sarasota, FL 3
    • 4 beds 2 baths ∙ 2,276 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,276 Sqft ∙ Built 1994
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.14
    •  
  • 5648 Eastwind Dr Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2001
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,635
    • $0.99
    •  
  • 5080 Faberge Pl Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,420 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,420 Sqft ∙ Built 2001
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7829401
Last Updated: 12/24/2020
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