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3241 44th Dr E Bradenton, FL 34203

3 Beds 3 Baths 2,131 sqft Built 2003

$339,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $159.50
  • 2 Days on Market
  • MLS # : U8106019
  • Updated Date : 11/29/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,131 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Realtec Group Inc

Listing Agent's Description

Tropical sunsets abound in one of SW Florida's most desirable communities. Only minutes to the gulf beaches, variety of golf venues, shopping & conveniences! Spectacular 3/2 split floor plan with elements of casual luxury everywhere you turn! Light, bright and airy...a personal luxury retreat from the mundane worries of the world! This home has had some nice upgrades such as: new kitchen cabinets, quartz countertops and backsplash, a new sink and faucet in 10/2020. A new vanity and light fixture in half bath on 03/2020, a new pool filter 04/2020, an oversized ac unit installed in 2017, home security system and camera in 2018 and new pool pump and heater in 2016. Grab this unique home before prices start to climb! Don't let this one get away! Offered as AS-IS with Right To Inspect.

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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

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
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,254
Property Tax -$374
Property Insurance -$167
HOA -$33
Property Management Fees -$80
CASH FLOW
-$38

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.

$339,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.55%

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$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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$22,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8703$1,8954$1,9505$2,095
$2,095
RENT COMPS ANALYSIS
  • 3241 44th Dr E Bradenton, FL 2
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.88
    •  
  • 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
    •  
  • 3122 38th Ter E Bradenton, FL 3
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2004
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
  • 2818 48th Way E Bradenton, FL 4
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
  • 3220 43rd Ave E Bradenton, FL 5
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2004
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.96
    •  
PROPERTY LISTING DETAILS
Andrew Grant
1.727.789.5555
Re/max Realtec Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106019
Last Updated: 11/29/2020