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PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $188.28
- 7 Days on Market
- MLS # : N6112679
- Updated Date : 11/17/2020 at 01:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,195 sqft
- Baths : 1 full
Listing Agent
Sarasota Realty Assoc., Inc.
Listing Agent's Description
CLOSE TO EVERYTHING!!! This 3 Bedroom, 1 Bath home is located on a quiet street in the City of Sarasota. With a neutral color palette, enter into the Living Room with built in shelving and ceramic tile floors throughout. The largest of the 3 bedrooms is to the right with access to the large laundry room. Bedroom 2 & 3 or to the left with the Bathroom between. The Bathroom has an updated vanity and toilet. The Roof was replaced in 2014 and the HVAC replaced in 2019. The Kitchen has plenty of cabinet space and a serving bar for entertaining. The dining room has many windows overlooking the large fenced backyard, and could also be used as an Office or Den. The Fenced Backyard has plenty of room for your fur babies to play around the mature Jacaranda tree. This property could be your next home or the perfect rental/investment. This Prime location is walking distance to many area shops and restaurants on Beneva Rd, as well as the brand new supermarket. Walk your leashed pets and enjoy the scenery at Circus Trail Nature Park very close by. Ready for some culture and nightlife? Downtown Sarasota is 2 miles away! Siesta Key Beach with it's powder sand, has been listed as one of the top 5 Beaches for numerus years and is only 9 miles away! Don't miss this adorable home in an amazing location.
SEE MORE
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Carolina Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Carolina Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,460 |
| EXPENSES | Loan Payment | -$830 |
| Property Tax | -$238 | |
| Property Insurance | -$109 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
$203
|
||
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.
$225,000
PROJECTED PRICE
$1,460
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.34% |
| Appreciation Year (1-5) | 11.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.70% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,375
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
10.67
YEARS SAVED
$41,725
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,460
LIST RENT -
$1.22
LIST RENT PER SQFT
-
$1,356
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
-
601 Bailey Rd Sarasota, FL 2
- 3 beds 1 baths ∙ 1,195 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,195 Sqft ∙ Built 1961
![property image]()
- Rent
- Rent Per SQFT
- $1,460
- $1.22
-
3020 Novus St Sarasota, FL 1
- 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1972
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,200
- $1.00
-
531 N Brink Ave Sarasota, FL 3
- 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1979
![property image]()
LEASED 07/09/19- Rent
- Rent Per SQFT
- $1,495
- $1.03
-
3862 Buckeye Cir Sarasota, FL 4
- 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1961
![property image]()
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,595
- $1.19
-
746 Wood Ln Sarasota, FL 5
- 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1973
![property image]()
LEASED 06/15/20- Rent
- Rent Per SQFT
- $1,745
- $1.32
PROPERTY LISTING DETAILS
1.941.735.1421
Sarasota Realty Assoc., Inc.
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: N6112679
Last Updated: 11/17/2020
