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8332 Karpeal Dr Sarasota, FL 34238

3 Beds 2 Baths 1,740 sqft Built 2012

$375,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $215.52
  • 3 Days on Market
  • MLS # : A4494453
  • Updated Date : 03/19/2021 at 22:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full
Listing Agent

Keller Williams On The Water

Listing Agent's Description

Offers welcomed! Great opportunity to own a property in the very desirable gated community of Palmer Oaks! There are low HOA fees and no CDD! community pool, near all services, shopping, short distance to downtown, schools, and minutes from the famous sugar sand of Siesta Key Beach. This beautiful home has 3 bedrooms, 2 bathrooms, with spacious living room, dining room, family room, open kitchen, a fence at rear. Great rental opportunity for Investors, too. Don't miss the opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 34238

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k409k

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

Zip Code: 34238

ZipNIR Market*CityMarket20102015Year20082019 Q214001600180020002200240026002800Rent in $12942887

* 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
Ashton Elementary School Primary Regular 896 56 10
Sarasota Middle School Middle Regular 1,270 80 9
Riverview High School High Magnet 2,483 126 7

Ashton Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 56
10
GreatSchools Rating

Sarasota Middle School

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

Riverview High School

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

$337,500$412,500$375,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,303
Property Tax -$351
Property Insurance -$143
HOA -$183
Property Management Fees -$129
CASH FLOW
$322

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.

$375,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 2.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$56,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,427

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,4003$2,4304$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 8332 Karpeal Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.40
    •  
  • 5512 Mang Pl Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2012
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.19
    •  
  • 8463 Karpeal Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2011
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.53
    •  
  • 5458 Mang Pl Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2012
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.42
    •  
  • 8326 Karpeal Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2011
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.44
    •  
PROPERTY LISTING DETAILS
Sandra Kirkpatrick
1.904.707.4612
Keller Williams On The Water
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494453
Last Updated: 03/19/2021
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