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7356 Cass Cir Sarasota, FL 34231

3 Beds 2 Baths 1,387 sqft Built 1965

$380,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $273.97
  • 43 Days on Market
  • MLS # : U8106692
  • Updated Date : 01/11/2021 at 10:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,387 sqft
  • Baths : 2 full
Listing Agent

Houses For Sale Network Stpete

Listing Agent's Description

GORGEOUS SIESTA HEIGHTS MANOR - Check out this three bedroom two bath one car garage home, delightfully renovated, featuring a spacious 2,000 square feet interior space, large Family rom with access to back yard, completely updated Kitchen and Bathrooms, with all the bells and whistles. Kitchen-Living Combo flaunts a bar space for eating or entertaining, Stainless Steel Appliances, recessed lighting, stone countertops, engineered hardwood floors, new light fixtures and designer styled finishes to make guests, family, or friends envious. No sacrifice in location either, just minutes from Little Sarasota Bay, plus endless options of Shopping, Dining, and Recreation. There is no time like the present, call today to preview this home!

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
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,320
Property Tax -$355
Property Insurance -$121
Property Management Fees -$129
CASH FLOW
-$125

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.

$380,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.47%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,470

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,6504$1,8005$1,875
$1,875
RENT COMPS ANALYSIS
  • 7356 Cass Cir Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.30
    •  
  • 2430 Pinehurst St Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1976
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 7408 Dickens Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 1973
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.82
    •  
  • 7795 Nixon Ave Sarasota, FL 3
    • 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
    •  
  • 7132 Antigua Pl Sarasota, FL 5
    • 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
Kelley Sanders
1.727.777.6005
Houses For Sale Network Stpete
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106692
Last Updated: 01/11/2021
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