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7145 42nd Ct E Sarasota, FL 34243

3 Beds 2 Baths 1,884 sqft Built 1993

$386,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $205.36
  • 5 Days on Market
  • MLS # : U8109069
  • Updated Date : 01/08/2021 at 18:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Welcome to this beautiful home in The Trails! This 3 bedroom,2 bath, 2 car garage home is well appointed and great for entertaining. This inviting home is has a tile roof, wooded private back yard and screened in lanai with a working hot tub for your enjoyment. There is split bedroom floor plan and the Master bedroom has an en suite bath with garden tub, separate shower, dual vanity sinks and walk in closets. Sliding glass doors lead out to the hot tub on the lanai. The kitchen has granite counters tops, features a breakfast nook and open concept to the family room with sliding doors accessing the lanai. This is a well established community with a pool, tennis courts and location close to shopping, dining, schools, parks and recreation. Make your appointment today!!

SEE MORE

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
 

$348,210$425,590$386,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,344
Property Tax -$422
Property Insurance -$152
HOA -$41
Property Management Fees -$129
CASH FLOW
-$78

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.

$386,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.52%

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

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$108,279

INVESTMENT

$108,279

Down Payment
$96,725
Rehab Estimate
$5,750
Closing Costs
$5,804

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,344

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,725
Loan Amount $290,175
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$19,000

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,185

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,010
1$2,0102$2,1003$2,1254$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7145 42nd Ct E Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $1.07
    •  
  • 7432 39th Ct E Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2001
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
  • 3718 72nd Ter E Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1996
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.07
    •  
  • 7226 35th Ln E Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2011
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.22
    •  
  • 3715 65th Ave E Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2006
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.11
    •  
PROPERTY LISTING DETAILS
Tyson Rollins, Pa
1.727.644.9387
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8109069
Last Updated: 01/08/2021
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