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8359 Nandina Dr Sarasota, FL 34240

3 Beds 3 Baths 1,818 sqft Built 2014

$394,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $216.72
  • 7 Days on Market
  • MLS # : O5923784
  • Updated Date : 02/24/2021 at 20:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,818 sqft
  • Baths : 2 full , 1 half
Listing Agent

Proplogik Realty Inc

Listing Agent's Description

This immaculate single-family home is move-in ready, complete with brand new exterior paint, hurricane shutters and a spacious backyard overlooking water with spectacular sunset views in the evening! First floor enhancements include built-in pantry shelves and child locks on all of the solid wood cabinets in addition to upgraded 18” brick pattern neutral tile throughout the first-floor high-ceiling, open-concept space. The living area features easy-to-connect surround sound speakers seamlessly installed into the ceiling and walls. The kitchen has granite countertops and a large center island for serving. The second-floor master bedroom also features upgraded high ceilings, a bathroom suite and walk-in closet. In addition to a loft, laundry room, full guest bath and two additional bedrooms for convenience. House is equipped with a security system that can detect open doors and sounds such as glass breaking on the first floor. A screened-in back porch, accessed through sliding glass doors from the kitchen, overlooks a deep, fenced-in backyard. This family friendly neighborhood is ideal conveniently located within the highly-rated Tatum Ridge school zone near attractions like Big Cat Habitat, the Celery Fields, and with easy access to I-75 and the beautiful Sarasota beaches. Modest HOA fees include exceptional lawn care, irrigation, cable and internet. Closing must occur no earlier than April 19, 2021.

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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

Neighborhood: Laurel Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k535k

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

Neighborhood: Laurel Lakes

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q214001600180020002200240026002800Rent in $12942828

* 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
Tatum Ridge Elementary School Primary Regular 669 46 8
Mcintosh Middle School Middle Regular 684 50 5
Sarasota High School High Regular 2,110 106 6

Tatum Ridge Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 46
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
 

$354,600$433,400$394,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,369
Property Tax -$368
Property Insurance -$148
HOA -$206
Property Management Fees -$129
CASH FLOW
-$159

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.

$394,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 4.7%
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-$5.0k$0.0$5.0k$10k

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$110,160

INVESTMENT

$110,160

Down Payment
$98,500
Rehab Estimate
$5,750
Closing Costs
$5,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,369

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,500
Loan Amount $295,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,224

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,3953$2,4504$2,500
$2,500
RENT COMPS ANALYSIS
  • 8359 Nandina Dr Sarasota, FL 1
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.13
    •  
  • 1613 Pinyon Pine Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2004
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.19
    •  
  • 8901 Bernberry St Sarasota, FL 3
    • 3 beds 3 baths ∙ 1,891 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,891 Sqft ∙ Built 2003
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.30
    •  
  • 8951 Province St Sarasota, FL 4
    • 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 2003
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
PROPERTY LISTING DETAILS
Marcos Marchena
1.407.658.8566
Proplogik Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5923784
Last Updated: 02/24/2021
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