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7355 Cass Cir Sarasota, FL 34231

3 Beds 2 Baths 1,382 sqft Built 1964

$329,500

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1964
  • Price/Sqft : $238.42
  • 9 Days on Market
  • MLS # : A4481321
  • Updated Date : 10/30/2020 at 08:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,382 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This charming home is close to fantastic restaurants and shopping in south Gulf Gate Area. Just over 2 miles from world famous Siesta Key Beach and Point Of Rocks. Drive or bike to beaches and Siesta village in minutes! This quaint home has No HOA and No deed restrictions, an AirBnB dream! Don't miss this house with an oversized back yard and it's long list of updates and upgrades: All new ductwork throughout home 2015, All new impact windows 2016, Complete kitchen update with wood cabinetry and Samsung appliances in 2018. Main plumbing line from house to meter re-plumbed in 2019, (all indoor plumbing upgraded in 2011) New AC Unit in Spring of 2020! This house will not last long!

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

Neighborhood: Siesta Heights Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $92k306k

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

Neighborhood: Siesta Heights Manor

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $11002059

* 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
Gulf Gate Elementary School Primary Regular 753 53 7
Brookside Middle School Middle Regular 820 53 7
Riverview High School High Magnet 2,483 126 7

Gulf Gate Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 53
7
GreatSchools Rating

Brookside Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 53
7
GreatSchools Rating

Riverview High School

  • Education Level: High
  • # of students: 2,483
  • # of teachers: 126
7
GreatSchools Rating
 

$296,550$362,450$329,500

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,216
Property Tax -$308
Property Insurance -$121
Property Management Fees -$80
CASH FLOW
$235

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.

$329,500

PROJECTED PRICE

$1,960

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 7.1%
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$20k

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$93,068

INVESTMENT

$93,068

Down Payment
$82,375
Rehab Estimate
$5,750
Closing Costs
$4,943

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,375
Loan Amount $247,125
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$55,502

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,8755$1,960
$1,960
RENT COMPS ANALYSIS
  • 7355 Cass Cir Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,382 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.42
    •  
  • 7795 Nixon Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1984
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.31
    •  
  • 3185 Regatta Cir Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1963
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
  • 2458 Breakwater Cir Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1966
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.14
    •  
  • 7132 Antigua Pl Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.20
    •  
PROPERTY LISTING DETAILS
Julie Lojacono Mackie
1.773.704.1438
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4481321
Last Updated: 10/30/2020
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