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8939 Huntington Pointe Dr Sarasota, FL 34238

3 Beds 2 Baths 1,773 sqft Built 1993

$450,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $253.81
  • 4 Days on Market
  • MLS # : A4484923
  • Updated Date : 12/03/2020 at 18:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 2 full
Listing Agent

Bright Realty

Listing Agent's Description

Don't miss this beautiful lakefront home in gated community with many many upgrades. Located in highly desirable Huntington Pointe. Upgrades include: New roof, new A/C, New tile and carpet, impact widows, hurricane roll down shutters and insulated hurricane impact garage door, remodeled kitchen and both bathrooms with premium wood cabinets and Kohler and Moen fixtures, All new LED lights and ceiling fans, extra insulation to keep power bills low and solar pool heater. Location, location location! Close to mall, movies, Costco, Lowes, YMCA and the beach!

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: Huntington Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k497k

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

Neighborhood: Huntington Pointe

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2130014001500160017001800190020002100220023002400250026002700Rent in $12942748

* 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
Laurel Nokomis School Primary Regular 1,024 85 9
Laurel Nokomis School Middle Regular 1,024 85 9
Venice High School High Regular 1,941 96 8

Laurel Nokomis School

  • Education Level: Primary
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Laurel Nokomis School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 85
9
GreatSchools Rating

Venice High School

  • Education Level: High
  • # of students: 1,941
  • # of teachers: 96
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,660
Property Tax -$421
Property Insurance -$145
HOA -$83
Property Management Fees -$129
CASH FLOW
-$258

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.

$450,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 2.3%
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$15k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,185

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,180
1$2,1802$2,1953$2,2504$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 8939 Huntington Pointe Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.23
    •  
  • 4046 Westbourne Cir Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.13
    •  
  • 1890 Wharf Rd Sarasota, FL 3
    • 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 1973
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.18
    •  
  • 9747 Knightsbridge Cir Sarasota, FL 4
    • 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 1993
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.29
    •  
  • 4122 Westbourne Cir Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1995
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.33
    •  
PROPERTY LISTING DETAILS
Drew Mitchell, Llc
1.941.356.1121
Bright Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4484923
Last Updated: 12/03/2020
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