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6189 Nicole Ct Sarasota, FL 34243

3 Beds 2 Baths 1,835 sqft Built 1989

$279,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $152.04
  • 2 Days on Market
  • MLS # : A4490742
  • Updated Date : 02/07/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

FIXER UPPER ~ OPEN CONCEPT DESIGN POOL HOME LOCATED IN DESIRABLE LONGWOOD RUN, PRICED TO SELL AND READY FOR YOUR UPDATES! An airy light filled interior features vaulted ceilings and tile floors. The on trend Great Room design opens to your expansive covered lanai and pool providing the perfect setting for the relaxed Florida lifestyle. Imagine a remodeled kitchen which does include a new built oven and microwave, designed with a cooking island and dinette with charming bay window and bench seat for casual dining. Spacious owner's suite with sliders to the lanai and pool features dual walk-in closets, double bowl vanity, separate soaking tub and shower. Two additional bedrooms with guest bath between is ideal for family members or guests. The front bedroom flooring has been removed. An interior laundry room with front load washer and dryer and upper cabinets, cul-de-sac location with longer than normal driveway and 2012 tile roof complete this nicely designed home in need of updating. Excellent location in the University Parkway area provides convenience to shopping, dining, University Town Center Shopping Mall, Benderson Rowing Park, SRQ Airport and I-75 to travel north and south. You will love the close proximity to downtown Sarasota's boutique shops, diverse cuisine and cultural venues including art galleries, theater, symphony, opera and ballet and our gorgeous Gulf Coast Beaches!

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: Villa Este

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Neighborhood: Villa Este

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q213001400150016001700180019002000210022002300240025002600Rent in $12942642

* 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
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$969
Property Tax -$289
Property Insurance -$149
HOA -$6
Property Management Fees -$129
CASH FLOW
$528

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.

$279,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 5.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

14.58

YEARS SAVED

$66,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8953$2,0004$2,0705$2,335
$2,335
RENT COMPS ANALYSIS
  • 6189 Nicole Ct Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.13
    •  
  • 4022 Felipi Ln Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1973
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 4542 Del Sol Blvd Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1992
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
  • 6069 Marella Ct Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 1988
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.10
    •  
  • 6012 Marella Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1988
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,335
    • $1.32
    •  
PROPERTY LISTING DETAILS
Dennis Kotaska, Llc
1.941.815.6772
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4490742
Last Updated: 02/07/2021
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