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INVESTimate
$275,000
List Price
$78,625
REQUEST INFO
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PROPERTY INFO
FACTS
- Built In 1986
- Price/Sqft : $209.60
- 3 Days on Market
- MLS # : A4476217
- Updated Date : 08/25/2020 at 01:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,312 sqft
- Baths : 2 full
Listing Agent
Harry Robbins Assoc Inc
Listing Agent's Description
One or more photo(s) has been virtually staged. 3 bedroom 2 bath Lake Sarasota home with brand new roof, re-plumbed, and new laminate throughout. New kitchen with granite counter-tops, white shaker cabinets and stainless steel appliances. Master has a walk in closet and fully updated master bathroom with walk in/over-sized shower. Living space consists of an open floor plan with the living room, kitchen and dining area all contiguous. French doors leading out to a 23x12 covered patio with a view of the resurfaced pool and deck area. Also, there is a large 2 car garage and backyard is fully fenced. In addition to the new roof and new water and sewer lines throughout, the attic has new insulation, electric panel and new pool pump.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Lake Sarasota
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Sarasota
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $1,670 |
EXPENSES | Loan Payment | -$1,015 |
Property Tax | -$257 | |
Property Insurance | -$116 | |
Property Management Fees | -$80 | |
CASH FLOW
$202
|
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.
$275,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 3.43% |
Appreciation Year (1-5) | 6.72% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 3.71% |
Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,625
LOAN DETAILS
$1,015
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $68,750 |
Loan Amount | $206,250 |
10.08
YEARS SAVED
$46,605
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,670
LIST RENT -
$1.27
LIST RENT PER SQFT
-
$1,502
COMP ESTIMATED VALUE -
$1.15
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
1.941.356.1613
Harry Robbins Assoc Inc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: A4476217
Last Updated: 08/25/2020