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5758 Carriage Dr Sarasota, FL 34243

3 Beds 2 Baths 2,023 sqft Built 1990

$399,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $197.68
  • 11 Days on Market
  • MLS # : A4481735
  • Updated Date : 10/31/2020 at 09:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,023 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Select

Listing Agent's Description

Take a look at this beautiful home in a great location! This 3 bedroom/2 bath pool home has a gorgeous lake view and is centrally located in popular Mote Ranch. Light and bright with soaring cathedral ceilings and a split floorplan make this the perfect Florida home. Enjoy your tranquil lake view as you relax in your pool area with plenty of deck space and covered area for year-round pleasure. Freshly painted, mature landscaping, easy-care laminate flooring throughout and many updates including a new garage door (2019), new pool pump (2019) and new washer and dryer (2019). The kitchen has granite counters, a breakfast area and connects to the spacious family room. The master suite features cathedral ceilings, built in overhead reading lights and a spacious master bath with separate tub and shower. The split bedroom plan gives plenty of privacy and the second bath services as a pool bath as well. Open your pocket sliders and enjoy the pristine Florida weather entertaining family and friends. Start living the Florida life that you have been dreaming of in this lovely, well-maintained home. Mote Ranch is tucked away in a quiet neighborhood off University Parkway with easy access to Sarasota, Bradenton, beaches, hospitals, restaurants, shopping and all the area has to offer. Make your appointment today! You will love it!

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

Zip Code: 34243

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k319k

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

Zip Code: 34243

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792164

* 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
Willis Elementary School Primary Regular 729 45 10
Braden River Middle School Middle Regular 977 56 5
Braden River High School High Regular 1,999 90 6

Willis Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 45
10
GreatSchools Rating

Braden River Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 56
5
GreatSchools Rating

Braden River High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 90
6
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,475
Property Tax -$448
Property Insurance -$160
HOA -$51
Property Management Fees -$80
CASH FLOW
-$44

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.

$399,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$27,109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,195

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,085
1$2,0852$2,1503$2,1704$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5758 Carriage Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.07
    •  
  • 5801 Fairwoods Cir Sarasota, FL 1
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1996
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $1.04
    •  
  • 6856 Corral Ct Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1991
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 4961 Creekside Trl Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2002
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.16
    •  
  • 5825 Fairway Lakes Dr Sarasota, FL 5
    • 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1996
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.08
    •  
PROPERTY LISTING DETAILS
Mary Michael Martin
1.941.962.2997
Keller Williams Realty Select
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4481735
Last Updated: 10/31/2020
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