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611 Pine Ranch East Rd Osprey, FL 34229

4 Beds 3 Baths 2,725 sqft Built 1994

$459,900

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $168.77
  • 4 Days on Market
  • MLS # : A4491193
  • Updated Date : 02/12/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,725 sqft
  • Baths : 3 full
Listing Agent

Flatfee.com

Listing Agent's Description

Beautiful "The Desert Rose Model" turnkey home with sparkling pool and lanai. Well maintained, 4 bedrooms, 3 full baths, plus a Den home. All of the bedrooms are spacious and the Master Bedroom overlooks the large screened-in pool. The home backs to a nature preserve and is centrally located and only 10 miles from Siesta Key.

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: Bay Oaks Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k511k

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

Neighborhood: Bay Oaks Estates

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q214001600180020002200240026002800Rent in $12942944

* 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
Venice High School High Regular 1,941 96 8
Venice High School High Unknown NA

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$413,910$505,890$459,900

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$1,597
Property Tax -$403
Property Insurance -$203
HOA -$13
Property Management Fees -$129
CASH FLOW
$1,155

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.

$459,900

PROJECTED PRICE

$3,500

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 4.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

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$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,597

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

16.42

YEARS SAVED

$126,518

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $4,006

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,5004$4,2005$4,200
$4,200
RENT COMPS ANALYSIS
  • 611 Pine Ranch East Rd Osprey, FL 3
    • 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.28
    •  
  • 500 Eaglenook Way Osprey, FL 1
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1981
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.43
    •  
  • 4264 Balmoral Way Sarasota, FL 2
    • 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 1994
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.47
    •  
  • 8894 Bloomfield Blvd Sarasota, FL 4
    • 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,070 Sqft ∙ Built 1999
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.37
    •  
  • 462 E Macewen Dr Osprey, FL 5
    • 3 beds 3 baths ∙ 2,611 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,611 Sqft ∙ Built 1998
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.61
    •  
PROPERTY LISTING DETAILS
Cliff Glansen
Flatfee.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491193
Last Updated: 02/12/2021
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