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PROPERTY INFO
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.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Laurel Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$110,160
LOAN DETAILS
$1,369
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $98,500 |
| Loan Amount | $295,500 |
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
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1613 Pinyon Pine Dr Sarasota, FL 2
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- $2,395
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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
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-
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
1.407.658.8566
Proplogik Realty Inc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: O5923784
Last Updated: 02/24/2021
