Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3208 45th Ave E Bradenton, FL 34203

3 Beds 2 Baths 1,814 sqft Built 2002

$350,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $192.94
  • 5 Days on Market
  • MLS # : A4493758
  • Updated Date : 03/10/2021 at 11:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,814 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

Beautiful pool and spa home located in the sought after neighborhood of Wallingford. Ten minutes to downtown Bradenton and ten minutes to downtown Sarasota. This home is in the dream location! It has been kept in immaculate condition by it's original owners. As you walk in the front door you will immediately appreciate the vaulted ceilings and family room that is flooded with natural light. This three bedroom and two bath split floor plan with an additional living room is ideal for a growing family, or working from home. The open concept kitchen features a custom built pantry, 2021 stainless steel appliances, solid wood cabinets and solid surface counter tops. Bamboo flooring in the family room and bedrooms give the home a warm and welcoming feel. A gorgeous view of the glistening pool and spa can be seen from both sets of sliders in the family room and master suite. Oh and did I mention, a NEW ROOF in 2020!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Zip Code: 34203

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k302k

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

Zip Code: 34203

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792107

* 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
Tara Elementary School Primary Regular 606 40 6
King Middle School Middle Regular 1,137 64 4
Braden River High School High Regular 1,999 90 6

Tara Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 40
6
GreatSchools Rating

King Middle School

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

Braden River High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,216
Property Tax -$385
Property Insurance -$147
HOA -$33
Property Management Fees -$129
CASH FLOW
-$111

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.

$350,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8004$1,8505$2,100
$2,100
RENT COMPS ANALYSIS
  • 3208 45th Ave E Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 3230 44th Dr E Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2003
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 4509 30th Ln E Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2002
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 5023 21st Way E Bradenton, FL 4
    • 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2000
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 3418 40th Ter E Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2005
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.15
    •  
PROPERTY LISTING DETAILS
Karla Davidson
1.941.356.1061
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4493758
Last Updated: 03/10/2021
BESbswy