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7012 43rd Ct E Sarasota, FL 34243

3 Beds 2 Baths 1,212 sqft Built 1993

$280,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $231.02
  • 4 Days on Market
  • MLS # : A4482504
  • Updated Date : 11/02/2020 at 09:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,212 sqft
  • Baths : 2 full
Listing Agent

Premier Sothebys Intl Realty

Listing Agent's Description

Renovated to the max, ideal location, and affordable on any budget. This 3-bedroom/2-bath, corner lot residence is the perfect starter home or low maintenance retreat. The renovation quality of this home is immaculate. Wood-like tile everywhere, quartz counters, a forecast inset sink and new appliances. The side yard, backyard combo is sizable enough for a pool or plenty of play space for kids or pets. Brand new AC unit installed a year ago, extremely low HOA fees, and no CDD fee. A rare move-in ready option under $300k in a good location.

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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

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
Kinnan Elementary School Primary Regular 656 41 3
Braden River Middle School Middle Regular 977 56 5
Southeast High School High Regular 1,457 68 5

Kinnan Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
3
GreatSchools Rating

Braden River Middle School

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

Southeast High School

  • Education Level: High
  • # of students: 1,457
  • # of teachers: 68
5
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,033
Property Tax -$306
Property Insurance -$110
HOA -$25
Property Management Fees -$80
CASH FLOW
$46

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.

$280,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$27,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,321

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,4503$1,5754$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 7012 43rd Ct E Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.32
    •  
  • 3703 E 75th Ter Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1986
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 7230 35th Ln E Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2010
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 3615 75th Ter E Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1986
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.11
    •  
  • 6933 42nd Ct E Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,212 Sqft ∙ Built 1993
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.32
    •  
PROPERTY LISTING DETAILS
Jason Skowronski
1.941.812.6090
Premier Sothebys Intl Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482504
Last Updated: 11/02/2020
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