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710 Gantt Ave Sarasota, FL 34232

3 Beds 2 Baths 2,119 sqft Built 1984

INVESTimate

$319,900

List Price

$1,750

$1,575 - $1,925

Rent Est.

$344,596  ( +7.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $150.97
  • 3 Days on Market
  • MLS # : A4476242
  • Updated Date : 08/25/2020 at 04:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,119 sqft
  • Baths : 2 full
Listing Agent

Fine Properties

Listing Agent's Description

NO HOA in this sought after neighborhood. Great 3 Bedroom / 2 Bath home with LARGE Metal over hang. Bring your RVs, Boats, Extra Cars. Lots of Storage AND a 13X 19 Air Conditioned Workshop. This is a very unique and great property right in the center of it all. Great Island kitchen with lots of counter space and Cabinets. Brand New AC and Duct work.... Well Pump 3 years old. Galvanized Metal Roof with a Lifetime Warranty... New Hot Water Heater..... Black Appliances are about 4 years old and Hurricane Shutters included. The Living room is AMAZING. Finished out with Pine from Floor to Ceiling. Plumbing has been replaced. Very Low Maintenance property with Pavers thru out. This home is very special. Just minutes to Shopping, Restaurants , The worlds most Beautiful beaches and UTC Mall. Don't miss out on this great find !!!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Crestline

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Crestline

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10092059

* 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
Fruitville Elementary School Primary Regular 761 58 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Fruitville Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 58
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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,180
Property Tax -$299
Property Insurance -$166
Property Management Fees -$80
CASH FLOW
$25

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.

$319,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.72%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$28,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,061

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9003$2,1004$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 710 Gantt Ave Sarasota, 1
    • 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 1240 Cornish Ct Sarasota, 2
    • 3 beds 2 baths ∙ 2,241 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,241 Sqft ∙ Built 1993
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 1267 Cornish Ct Sarasota, 3
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1998
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 1732 Old Summerwood Blvd Sarasota, 4
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 2003
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
  • 1721 Old Summerwood Blvd Sarasota, 5
    • 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,155 Sqft ∙ Built 2003
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
PROPERTY LISTING DETAILS
Judi Taulbee
1.941.544.6227
Fine Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4476242
Last Updated: 08/25/2020
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