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1207 Santiago Dr Bradenton, FL 34209

3 Beds 2 Baths 1,457 sqft Built 1970

$399,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $274.47
  • 2 Days on Market
  • MLS # : A4492541
  • Updated Date : 02/27/2021 at 22:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,457 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

PALMA SOLA POOL HOME UNDER $400K! This 3b2B home is ready for a new owner in one of the BEST neighborhoods in town! Split floor plan, hardwood flooring throughout, plantation shutters with newer double pane windows, concrete block, Tile roof is new in 2011, AC 2013. HUGE lot with spacious backyard and caged pool! NO Homeowners association, no deed restrictions and not in a flood zone. Perfect for the boater in the family too! Palma Sola Bay Yacht Club has a boat basin with boat slips ONLY for Palma Sola residents. Just 3 miles to Anna Maria Island! Excellent value in a highly desired neighborhood!

SEE MORE

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

Zip Code: 34209

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

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

Zip Code: 34209

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792130

* 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
Palma Sola Elementary School Primary Regular 570 38 5
King Middle School Middle Regular 1,137 64 4
Manatee High School High Regular 2,409 115 5

Palma Sola Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 38
5
GreatSchools Rating

King Middle School

  • Education Level: Middle
  • # of students: 1,137
  • # of teachers: 64
4
GreatSchools Rating

Manatee High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 115
5
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,389
Property Tax -$440
Property Insurance -$125
Property Management Fees -$129
CASH FLOW
-$94

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.

$399,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$19,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,8293$1,9504$1,9905$2,100
$2,100
RENT COMPS ANALYSIS
  • 1207 Santiago Dr Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.37
    •  
  • 7215 24th Ave W Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 7209 3rd Ave Nw Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,829
    • $1.11
    •  
  • 7712 3rd Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1973
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
  • 1225 De Narvaez Ave Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1959
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.23
    •  
PROPERTY LISTING DETAILS
Cindy Quinn
1.941.780.8000
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4492541
Last Updated: 02/27/2021
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