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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $177.52
- 3 Days on Market
- MLS # : A4491739
- Updated Date : 02/20/2021 at 10:05
CONSTRUCTION
- Beds : 3
- Floor Size : 2,135 sqft
- Baths : 2 full
Listing Agent
Zachos Realty
Listing Agent's Description
One or more photo(s) has been virtually staged. Picture yourself in this beautiful, Florida-lifestyle home. A really great house in a wonderful location! Whether it is a morning stroll through the neighborhood while enjoying the cool breeze or an evening bike ride to the Legacy Trail to stretch your legs, you will love the location. This home is located in the sought after community of Mira Lago at Palmer Ranch. This home boasts vaulted ceilings and an open floor plan. Tremendous value in this home with new luxury vinyl flooring throughout and all new plumbing from just a few years. This beautiful home is ideally situated with a water view from almost every room in the house. Relax and enjoy your morning coffee listening to the many birds and animals that frequent the private pond. You will love entertaining guests as you enjoy conversation and take full advantage of this home's open concept floor plan. With the ideal location of this home in north western Palmer Ranch, you will love the fact that within a fifteen minute drive, you have the option of three different county waterfront beaches and parks. Crescent Beach (only three miles), Siesta Key Beach (five miles), Turtle Beach and its boat and kayak launch (six miles away). In addition to the beach, you will find yourself enjoying Palmer Ranch and the Gulf Gate area shops and restaurants. If you love seafood you will be excited to know there are almost a dozen four to five star rated restaurants located within a ten mile drive. This neighborhood and Palmer Ranch is pedestrian and bicycle friendly. The legacy Trail is less than 1.5 miles from home. If you're adventurous and enjoy long bike rides, you can cruise all the way to the island of Venice and then onto Caspersen Beach Park (using the trail). The Legacy Trail is currently expanding north to connect all the way to downtown Sarasota. This home is perfect as either a vacation retreat or living in paradise year-round. Take advantage of this wonderful opportunity to enjoy owning the home you always wanted in Florida.
SEE MORE
- 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
Neighborhood: Mira Lago at Palmer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mira Lago at Palmer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,830 |
| EXPENSES | Loan Payment | -$1,316 |
| Property Tax | -$354 | |
| Property Insurance | -$167 | |
| HOA | -$314 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$550
|
||
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.
$379,000
PROJECTED PRICE
$2,830
PROJECTED RENT
0.75%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.34% |
| Appreciation Year (1-5) | 1.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.70% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$106,185
LOAN DETAILS
$1,316
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $94,750 |
| Loan Amount | $284,250 |
12.67
YEARS SAVED
$76,729
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,830
LIST RENT -
$1.33
LIST RENT PER SQFT
-
$2,781
COMP ESTIMATED VALUE -
$1.3
COMP AVG. RENT PER SQFT
Comps Range
-
7192 Del Lago Dr Sarasota, FL 4
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- Rent
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- $2,830
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3842 Kingston Blvd Sarasota, FL 1
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- $2,500
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3958 Easton Ter Sarasota, FL 2
- 4 beds 3 baths ∙ 2,115 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,115 Sqft ∙ Built 1984
LEASED 10/09/19- Rent
- Rent Per SQFT
- $2,675
- $1.26
-
4174 Kingston Way Sarasota, FL 3
- 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,967 Sqft ∙ Built 1984
LEASED 05/15/20- Rent
- Rent Per SQFT
- $2,700
- $1.37
-
7451 Blaine Way Sarasota, FL 5
- 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 1978
LEASED 03/24/20- Rent
- Rent Per SQFT
- $3,000
- $1.49
PROPERTY LISTING DETAILS
1.941.780.1909
Zachos Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4491739
Last Updated: 02/20/2021
