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7448 39th Ct E Sarasota, FL 34243

4 Beds 3 Baths 2,421 sqft Built 2000

$355,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $146.63
  • 2 Days on Market
  • MLS # : A4484406
  • Updated Date : 11/21/2020 at 22:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,421 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Classic Group

Listing Agent's Description

Welcome to this beautiful home nestled in a quite cul-du-sac that borders a conservation area. This split floor plan contains 4 Bedrooms, plus den, 3 Baths and a heated pool. The kitchen opens to the family room and has a great view of the pool. There are three sets of sliders for easy access to the pool. The master bedroom en suite has 2 walk in closets, double sinks and a slide in handicapped shower. Bedrooms 2 & 3 along with the guest bath can be shut off with a pocket door. Bedroom 4 and the pool bath can also be shut off with a pocket door. This home is perfect for guests wanting privacy or the multigenerational family. The formal dining room can be a place for many memorable holiday meals. Enjoy the electric powered fabric and metal security roll down panels on the covered lani. Low annual dues. Conveniently located in the University Parkway corridor. A six minute drive to UTC Mall and 75. Ten minutes to Sarasota Airport. Pool heater pump 2017. Pool motor 2018. Garage screen door 2018 and garage springs 2019. AC unit 2014.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$319,500$390,500$355,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,310
Property Tax -$442
Property Insurance -$185
HOA -$25
Property Management Fees -$80
CASH FLOW
$268

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.

$355,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.65%

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$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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$58,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,264

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,0003$2,3004$2,3105$2,550
$2,550
RENT COMPS ANALYSIS
  • 7448 39th Ct E Sarasota, FL 4
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.95
    •  
  • 7214 38th Ct E Sarasota, FL 1
    • 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1992
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.86
    •  
  • 7206 36th Ct E Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 1997
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 4452 Sage Green Ter Sarasota, FL 3
    • 3 beds 4 baths ∙ 2,323 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,323 Sqft ∙ Built 2017
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 4841 Palm Aire Dr Sarasota, FL 5
    • 3 beds 3 baths ∙ 2,683 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,683 Sqft ∙ Built 1981
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.95
    •  
PROPERTY LISTING DETAILS
Renee Tope
1.941.376.1472
Keller Williams Classic Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484406
Last Updated: 11/21/2020
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