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6692 Deering Cir Sarasota, FL 34240

3 Beds 2 Baths 1,823 sqft Built 1997

$349,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $191.94
  • 6 Days on Market
  • MLS # : A4482064
  • Updated Date : 11/02/2020 at 09:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,823 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

Location meets functionality sprinkled with upgrades! This spectacular split floorplan home is located in the beautiful and quiet Deerfield community. With all new wood floors and preserve views, this may be the single best value in all of Sarasota. Never worry about maintaining your own lawn again as your HOA happily provides this to you and your neighbors!

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: Deerfield

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k410k

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

Neighborhood: Deerfield

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
Tatum Ridge Elementary School Primary Regular 669 46 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Tatum Ridge Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 46
8
GreatSchools Rating

Mcintosh Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 50
5
GreatSchools Rating

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,291
Property Tax -$327
Property Insurance -$148
HOA -$173
Property Management Fees -$80
CASH FLOW
$41

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.

$349,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,065

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$1,9953$1,9954$2,0605$2,500
$2,500
RENT COMPS ANALYSIS
  • 6692 Deering Cir Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.13
    •  
  • 7322 Deer Crossing Ct Sarasota, FL 1
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 2001
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.08
    •  
  • 5881 Old Summerwood Blvd Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1998
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.10
    •  
  • 2132 Old Arbor Ct Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1997
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.19
    •  
  • 6660 Deering Cir Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 1999
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Brian Loebker
1.941.735.4393
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482064
Last Updated: 11/02/2020
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