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6915 Stetson Street Cir Sarasota, FL 34243

3 Beds 2 Baths 1,726 sqft Built 1993

$349,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $202.72
  • 7 Days on Market
  • MLS # : T3277996
  • Updated Date : 11/30/2020 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,726 sqft
  • Baths : 2 full
Listing Agent

By Owner.com

Listing Agent's Description

This beautiful 3 bedroom, 2 bath home will blow you away! Not only is this home spacious with 2 living rooms, dining room, and open kitchen plan, but you will feel like you're on vacation in its backyard paradise complete with a sparkling pool and screened in pool deck large enough for an eating and lounging area! The beautifully maintained lawn and landscape is picturesque! Truly a lovely home in a quiet neighborhood you will be proud to call home!

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

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
 

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

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,291
Property Tax -$382
Property Insurance -$142
HOA -$49
Property Management Fees -$129
CASH FLOW
$157

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

$2,150

PROJECTED RENT

0.61%

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$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 40% 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

8.5

YEARS SAVED

$46,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,8504$2,1505$2,299
$2,299
RENT COMPS ANALYSIS
  • 6915 Stetson Street Cir Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.25
    •  
  • 7124 Victoria Cir University Park, FL 1
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1996
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 5890 Lantern Ct Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 6606 Copper Ridge Trl University Park, FL 3
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 2000
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 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
Greg Sullivan
1.800.296.9637
By Owner.com
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277996
Last Updated: 11/30/2020
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