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5841 Helen Way Sarasota, FL 34243

3 Beds 2 Baths 2,018 sqft Built 1992

$300,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $148.66
  • 6 Days on Market
  • MLS # : A4488240
  • Updated Date : 01/14/2021 at 20:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,018 sqft
  • Baths : 2 full
Listing Agent

Re/max Platinum Realty

Listing Agent's Description

Great opportunity in the friendly community of Cedar Creek. Bring your paint brush and your decorating ideas to this spacious, split bedroom home. This home features: over 2000 square feet of living area, formal living room, dining room, family room, eat-in kitchen, inside laundry, and 2 car garage. All sliders lead out to the oversized lanai (38X12) that overlooks the tropical backyard. Roof replaced in 2014, AC replaced in 2013. Super convenient location! Minutes to Interstate 75, UTC, restaurants, and shopping. Perfect for the buyer with vision.

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: Cedar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Cedar Creek

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12602642

* 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
Emma E. Booker Elementary School Primary Regular 554 44 2
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Emma E. Booker Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 44
2
GreatSchools Rating

Booker Middle School

  • Education Level: Middle
  • # of students: 856
  • # of teachers: 62
4
GreatSchools Rating

Booker High School

  • Education Level: High
  • # of students: 1,087
  • # of teachers: 69
4
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,042
Property Tax -$281
Property Insurance -$160
HOA -$36
Property Management Fees -$129
CASH FLOW
$512

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.

$300,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 6.7%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

14

YEARS SAVED

$68,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,341

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1603$2,2004$2,3755$2,500
$2,500
RENT COMPS ANALYSIS
  • 5841 Helen Way Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.07
    •  
  • 5307 Angeles Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
  • 5781 Forester Oak Ct Sarasota, FL 3
    • 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,945 Sqft ∙ Built 1989
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
  • 5509 83rd Ter E Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1989
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.24
    •  
  • 8223 46th Ct E Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2002
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
Amy Worth
1.941.928.5342
Re/max Platinum Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488240
Last Updated: 01/14/2021
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