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834 Albritton Ave Sarasota, FL 34232

3 Beds 1 Baths 1,093 sqft Built 1970

$287,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $262.58
  • 8 Days on Market
  • MLS # : A4489444
  • Updated Date : 01/29/2021 at 13:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,093 sqft
  • Baths : 1 full
Listing Agent

Preferred Prop Of Sarasota

Listing Agent's Description

You don't have to do a thing! It's all done for you! This beautifully renovated ranch style home on a double lot (bring your toys!) is found in the friendliest part of town. And no deed restrictions here. Have friends and family over to barbecue in your covered outdoor kitchen surrounded by tropical citrus trees and exotic bamboo. Add a pool - there's plenty of room! This home has an extensive workshop for your projects and hobbies. Home security system including cameras already installed. Upgraded SS appliances make this kitchen sparkle! Enjoy your morning coffee or evening beverage of choice on your breezy screened front porch. Public schools are highly rated, so see this one today!

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: Crestline

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $67k306k

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

Neighborhood: Crestline

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10092059

* 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
Fruitville Elementary School Primary Regular 761 58 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Fruitville Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 58
8
GreatSchools Rating

Mcintosh Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 50
5
GreatSchools Rating

Sarasota High School

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

$258,300$315,700$287,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$997
Property Tax -$268
Property Insurance -$103
Property Management Fees -$129
CASH FLOW
-$97

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.

$287,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,805

INVESTMENT

$81,805

Down Payment
$71,750
Rehab Estimate
$5,750
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,750
Loan Amount $215,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,202

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,4003$1,4004$1,5005$1,700
$1,700
RENT COMPS ANALYSIS
  • 834 Albritton Ave Sarasota, FL 3
    • 3 beds 1 baths ∙ 1,093 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,093 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.28
    •  
  • 1044 Coleman Ave Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,167 Sqft ∙ Built 1984
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 2124 Vinson Ave Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1960
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.15
    •  
  • 1075 Deer Hollow Way Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1985
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
  • 5510 Colonial Oaks Blvd Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1986
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kris Kesling
1.941.321.5638
Preferred Prop Of Sarasota
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4489444
Last Updated: 01/29/2021
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