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PROPERTY INFO
FACTS
- Single Family
- Built In 1982
- Price/Sqft : $187.90
- 2 Days on Market
- MLS # : A4486585
- Updated Date : 12/19/2020 at 12:01
CONSTRUCTION
- Beds : 3
- Floor Size : 1,463 sqft
- Baths : 2 full
Listing Agent
Charles Rutenberg Realty Inc
Listing Agent's Description
This won't last long. Look no further at this 3or4 bedroom, 2 bath home with beautiful tile throughout. This property has been well maintained since ownership. The optional 4th bedroom or bonus room make this desirable for the growing family. Beautiful lanai that looks out at the large fenced backyard that has plenty of room for a pool. Solid surface cabinetry and the floating Custom Island flows directly into the large living room. Custom led lighting hidden behind the crown molding make for a soothing atmosphere. The backyard features a Large shed that has everything the weekend warrior would want. Gutters throughout and a New Roof in Nov 2017. Endless potential with this solid built home in a well established Sarasota Neighborhood.
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: Lake Sarasota
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Sarasota
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$1,014 |
| Property Tax | -$257 | |
| Property Insurance | -$126 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$134
|
||
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.
$274,900
PROJECTED PRICE
$1,660
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.43% |
| Appreciation Year (1-5) | 6.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.71% |
| 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
$78,599
LOAN DETAILS
$1,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
8.83
YEARS SAVED
$38,715
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$1.13
LIST RENT PER SQFT
-
$1,650
COMP ESTIMATED VALUE -
$1.13
COMP AVG. RENT PER SQFT
Comps Range
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6823 Tema Ln Sarasota, FL 4
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- Rent
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4057 Vana Dr Sarasota, FL 1
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- $1,350
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4136 Ponea Dr Sarasota, FL 2
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LEASED 02/18/20- Rent
- Rent Per SQFT
- $1,600
- $1.23
-
4090 Malden Dr Sarasota, FL 3
- 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000
LEASED 09/11/19- Rent
- Rent Per SQFT
- $1,650
- $1.12
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4251 Molokai Dr Sarasota, FL 5
- 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2002
LEASED 06/29/20- Rent
- Rent Per SQFT
- $1,750
- $1.04
PROPERTY LISTING DETAILS
1.941.720.6416
Charles Rutenberg Realty Inc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4486585
Last Updated: 12/19/2020
