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7210 Java Dr Sarasota, FL 34241

3 Beds 2 Baths 1,664 sqft Built 2003

$315,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $189.30
  • 4 Days on Market
  • MLS # : A4485850
  • Updated Date : 12/10/2020 at 20:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,664 sqft
  • Baths : 2 full
Listing Agent

Beachy Properties

Listing Agent's Description

This is the One! *Fantastic opportunity to own a super clean 3bed/2bath split plan located in Lake Sarasota*French doors led out to an amazing inground saltwater pool area which is perfect for entertaining*8x12 storage shed*Recently installed 4 brand new Pella windows*Vaulted Ceilings*Newer AC system*Newer pool Pump*Endless potential and plenty of opportunity to live in a well established Sarasota neighborhood*

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

Neighborhood: Lake Sarasota

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k306k

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

Neighborhood: Lake Sarasota

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2120013001400150016001700180019002000Rent in $11342059

* 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
Lakeview Elementary School Primary Regular 606 40 10
Sarasota Middle School Middle Regular 1,270 80 9
Sarasota High School High Regular 2,110 106 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 40
10
GreatSchools Rating

Sarasota Middle School

  • Education Level: Middle
  • # of students: 1,270
  • # of teachers: 80
9
GreatSchools Rating

Sarasota High School

  • Education Level: High
  • # of students: 2,110
  • # of teachers: 106
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,162
Property Tax -$295
Property Insurance -$138
Property Management Fees -$129
CASH FLOW
$36

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.

$315,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 6.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

6.83

YEARS SAVED

$30,776

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,772

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7504$1,7605$2,075
$2,075
RENT COMPS ANALYSIS
  • 7210 Java Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.06
    •  
  • 4090 Malden Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 7235 Mauna Loa Blvd Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1997
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 4251 Molokai Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2002
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 4833 Post Pointe Dr Sarasota, FL 5
    • 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,978 Sqft ∙ Built 2003
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.05
    •  
PROPERTY LISTING DETAILS
Dave Beachy
1.941.371.8163
Beachy Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485850
Last Updated: 12/10/2020
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