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6859 Wagon Wheel Cir Sarasota, FL 34243

3 Beds 2 Baths 2,038 sqft Built 1999

$375,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $184.00
  • 8 Days on Market
  • MLS # : T3274947
  • Updated Date : 11/09/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,038 sqft
  • Baths : 2 full
Listing Agent

Homeprop

Listing Agent's Description

One or more photo(s) has been virtually staged. Welcome to this beautiful, executive style, three bedroom, two bath home. As you enter this home, you will love the high ceilings, open floor plan and solid surface floors throughout. The kitchen boasts white cabinets, stainless steel appliances and a breakfast area and bar for eating. Entertaining is easy with the open flow kitchen/ living area overlooking the screened porch and serene pond. All the bedrooms are generously sized. The large community pool is one of the great benefits of this community. Home offers easy access to Downtown, great shopping, restaurants and a short drive to enjoy some of Florida's most pristine beaches! Don't miss out on the opportunity to call this house your home!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Zip Code: 34243

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k319k

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

Zip Code: 34243

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792164

* 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
Willis Elementary School Primary Regular 729 45 10
Braden River Middle School Middle Regular 977 56 5
Braden River High School High Regular 1,999 90 6

Willis Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 45
10
GreatSchools Rating

Braden River Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 56
5
GreatSchools Rating

Braden River High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 90
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,384
Property Tax -$409
Property Insurance -$161
HOA -$51
Property Management Fees -$80
CASH FLOW
$95

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

$2,180

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$40,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,257

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1804$2,2005$2,299
$2,299
RENT COMPS ANALYSIS
  • 6859 Wagon Wheel Cir Sarasota, FL 3
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.07
    •  
  • 4912 Creekside Trl Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2000
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 6856 Corral Ct Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1991
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 4961 Creekside Trl Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2002
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.16
    •  
  • 7163 Victoria Cir University Park, FL 5
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 1997
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $1.23
    •  
PROPERTY LISTING DETAILS
Sierra Schmidt
1.813.298.4563
Homeprop
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274947
Last Updated: 11/09/2020
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