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583 Pine Ranch East Rd 
Osprey, FL
34229
4 Beds 2 Baths 2,203 sqft
Built 1996
INVESTimate
$399,777
List Price
$111,691
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PROPERTY INFO
FACTS
- Built In 1996
- Price/Sqft : $181.47
- 2 Days on Market
- MLS # : A4475959
- Updated Date : 08/25/2020 at 13:51
CONSTRUCTION
- Beds : 4
- Floor Size : 2,203 sqft
- Baths : 2 full
Listing Agent
Relax Realty Group Inc
Listing Agent's Description
Beautifully updated 4bed/2ba pool home in Bay Oaks Estates. This home backs up to the popular Legacy Trail and minutes from the "Friends of Osprey Junction Trailhead." Walk-in and you are greeted with a large living room with vaulted ceilings and views of your screened in pool that was just resurfaced. Throughout the house is luxury vinyl plank flooring, new baseboards, fresh paint inside and out, new doors interior doors and fixtures. The spacious kitchen has recessed lighting, quartz counters, marble backsplash, undermount sink with garbage disposal and a new whirlpool appliance package. Off the kitchen is a dedicated laundry room and access to the 2 car garage which has new paint, new garage door and opener. Back inside you'll find a split floor plan with spacious bedrooms, a guest bath with double-sinks, quartz counter that matches kitchen and a tub with new tile surround. The master bedroom has sliders out to the lanai, two closets (one a walk-in) and large bathroom with soaking tub, walk-in shower with new tile and double sink vanity with quartz counters. This home offers many updates including a NEW Roof, NEW HVAC & NEW Hot Water Heater! Hurry in to see this home and all it's features!
SEE MORE
- 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: Bay Oaks Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bay Oaks Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,560 |
| EXPENSES | Loan Payment | -$1,475 |
| Property Tax | -$358 | |
| Property Insurance | -$171 | |
| HOA | -$21 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
$455
|
||
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.
$399,777
PROJECTED PRICE
$2,560
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.34% |
| Appreciation Year (1-5) | 4.01% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.70% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,691
LOAN DETAILS
$1,475
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $99,944 |
| Loan Amount | $299,833 |
12
YEARS SAVED
$86,961
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 -
$1.16
LIST RENT PER SQFT
-
$2,913
COMP ESTIMATED VALUE -
$1.32
COMP AVG. RENT PER SQFT
Comps Range
-
583 Pine Ranch East Rd Osprey, 3
- 4 beds 2 baths ∙ 2,203 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,203 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $2,560
- $1.16
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LEASED 04/15/19- Rent
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- $2,450
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-
215 Pine Ranch East Rd Osprey, 4
- 3 beds 3 baths ∙ 2,321 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,321 Sqft ∙ Built 1995
LEASED 02/12/20- Rent
- Rent Per SQFT
- $3,000
- $1.29
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5810 Benevento Dr Sarasota, 5
- 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 2007
LEASED 10/07/19- Rent
- Rent Per SQFT
- $3,200
- $1.59
PROPERTY LISTING DETAILS
1.941.809.3869
Relax Realty Group Inc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4475959
Last Updated: 08/25/2020
