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606 Eastpointe Ct Sarasota, FL 34232

3 Beds 2 Baths 1,938 sqft Built 1988

$375,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $193.50
  • 3 Days on Market
  • MLS # : A4491034
  • Updated Date : 02/13/2021 at 21:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,938 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Act fast - homes seldom come to market in this community! Large, fenced yard with a covered lanai. Park your boat or RV on this oversized lot located at the end of cul-de-sac. Large bedrooms with walking closets complement this split plan design with a look-through kitchen adorned with thick stone countertops. Comfortable finished garage enters the house through a spacious laundry and storage room – great for pets. Sizable family room with welcoming living and dining areas. Excellently located with quick access to Downtown Sarasota, Siesta Key beach, University Town Center shopping, Restaurants, I-75, and community parks. AC and Water Heater newly replaced in 2018. Don’t miss this one! Please follow CDC guidelines at all times. Thank you.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Eastpointe

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Eastpointe

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10372059

* 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
Gocio Elementary School Primary Regular 668 50 4
Booker Middle School Middle Magnet 856 62 4
Booker High School High Magnet 1,087 69 4

Gocio Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 50
4
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,303
Property Tax -$351
Property Insurance -$155
HOA -$58
Property Management Fees -$129
CASH FLOW
-$35

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.

$375,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.7%
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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9604$2,0005$2,600
$2,600
RENT COMPS ANALYSIS
  • 606 Eastpointe Ct Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.01
    •  
  • 1097 Whitegate Ct Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
  • 1397 Georgetowne Cir Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 1983
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.06
    •  
  • 1762 Briar Creek Ln Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1987
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 84 Arbor Oaks Dr Sarasota, FL 5
    • 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1996
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.18
    •  
PROPERTY LISTING DETAILS
Silvia Chiaro
1.941.376.0775
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491034
Last Updated: 02/13/2021
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