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8380 Karpeal Dr Sarasota, FL 34238

3 Beds 2 Baths 1,572 sqft Built 2012

$344,440

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $219.11
  • 3 Days on Market
  • MLS # : A4487980
  • Updated Date : 01/09/2021 at 01:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full
Listing Agent

Bright Realty

Listing Agent's Description

Rare opportunity to purchase a single-story pool home in the gated, maintenance free enclave of Palmer Oaks with no CDD fees or Master Planned Community fees. Located in the highly desirable Palmer Ranch this home offers easy access to I75 and is within walking distance to shops and restaurants. The 3 bedroom/2 bath home features an open floor plan with ample space for entertaining; a split bedroom concept for privacy and a spacious 2 car garage with an extended driveway for additional parking space. The expansive screened lanai is surrounded by mature landscaping and provides the flexibility to blend the indoors with the out as you open the large living room sliders for a lovely and tranquil view of the pool. Built in 2012 with thoughtful upgrades throughout, including a gourmet kitchen with granite countertops and rich cherry-stained solid wood cabinets. The master suite offers a true retreat with its massive spa-like bathroom featuring dual sinks and an oversized walk-in shower. This is a premier offering that will allow the lucky owner to fully enjoy nearby Siesta Key Beach and all that Sarasota has to offer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$309,996$378,884$344,440

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,196
Property Tax -$358
Property Insurance -$132
HOA -$201
Property Management Fees -$129
CASH FLOW
$543

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.

$344,440

PROJECTED PRICE

$2,560

PROJECTED RENT

0.74%

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$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,027

INVESTMENT

$97,027

Down Payment
$86,110
Rehab Estimate
$5,750
Closing Costs
$5,167

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,196

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,110
Loan Amount $258,330
See What Happens When You Reinvest Cash Flow

13.33

YEARS SAVED

$73,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $2,154

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,3004$2,4005$2,560
$2,560
RENT COMPS ANALYSIS
  • 8380 Karpeal Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.63
    •  
  • 5512 Mang Pl Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 2012
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.19
    •  
  • 6204 Weymouth Dr Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1999
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.44
    •  
  • 8332 Karpeal Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2012
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.32
    •  
  • 8463 Karpeal Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 2011
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.53
    •  
PROPERTY LISTING DETAILS
Walter Perkowski, Pa
1.941.223.2944
Bright Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487980
Last Updated: 01/09/2021
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