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1423 Millbrook Cir Bradenton, FL 34212

3 Beds 2 Baths 1,571 sqft Built 2002

$289,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $184.53
  • 4 Days on Market
  • MLS # : A4489079
  • Updated Date : 01/23/2021 at 10:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

Wagner Realty

Listing Agent's Description

Located in the maintenance free community of Millbrook in Greenfield Plantation, a non-mandatory golf community. Community offers maintenance free living with low fees and no CDD. Millbrook has its own community pool a block and half away from home. Fees include pool, Lawn mowing, edging, trimming, wedding, mulching, fertilization and reclaimed water for sprinklers. Home offers three bedrooms, two bathrooms, and two car garage with epoxy flooring and a great room floor plan. Home has been recently updated with black stainless-steel appliances, new washer/dryer, luxury vinyl plank flooring in entire house (no carpeting), gas tank-less water heater, whole house surge protector, new toilets, and more with in the last 2 years. AC was replaced in 2018. Ask for a complete list of improvements. Conveniently located close to I-75 making it easy to access all the Sunshine State has to offer!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 34212

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $112k431k

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

Zip Code: 34212

ZipNIR Market*CityMarket20102015Year20082019 Q214001600180020002200240026002800Rent in $12942915

* 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
Freedom Elementary School Primary Regular 796 51 5
Haile Middle School Middle Regular 1,068 56 6
Braden River High School High Regular 1,999 90 6

Freedom Elementary School

  • Education Level: Primary
  • # of students: 796
  • # of teachers: 51
5
GreatSchools Rating

Haile Middle School

  • Education Level: Middle
  • # of students: 1,068
  • # of teachers: 56
6
GreatSchools Rating

Braden River High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 90
6
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,007
Property Tax -$319
Property Insurance -$132
HOA -$40
Property Management Fees -$129
CASH FLOW
$142

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.

$289,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 3.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,6504$1,7705$1,850
$1,850
RENT COMPS ANALYSIS
  • 1423 Millbrook Cir Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.13
    •  
  • 825 Tallgrass Ln Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1999
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 1289 Millbrook Circle Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2002
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 10124 Reagan Dairy Trl Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1999
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 1117 Cane Mill Ln Bradenton, FL 5
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2001
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.19
    •  
PROPERTY LISTING DETAILS
Laurie Jarema
1.941.321.3410
Wagner Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4489079
Last Updated: 01/23/2021
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