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3510 Southern Pkwy W Bradenton, FL 34205

4 Beds 2 Baths 1,190 sqft Built 1974

$259,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $218.40
  • 2 Days on Market
  • MLS # : A4494315
  • Updated Date : 03/14/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,190 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Don't miss this beautifully remodeled 4 BR, 1.5 BA home in Sandpointe! HOA free! Brand new Porcelain Plank Tile floors throughout whole house! Brand new kitchen with new 42" cabinets, granite counter, SS appliances, tile backsplash, pantry and double SS sink! Dining area with french doors to backyard. Remodeled baths with new vanities! Spacious living room with ceiling fan. MBR has half bath with granite counter and walkin closet. Spare BRs have new closet doors and ceiling fans. Roof only 5 yrs old and water heater only 2 years! House is freshly painted in and out and has new blinds throughout. Laundry room with storage. Great fenced backyard! Move right in and just enjoy your newly remodeled 4 BR home! Close to Anna Maria Island's beautiful beaches (15 minute drive) and plenty of shopping and restaurants! Not in a flood zone. Welcome to Paradise!

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

Neighborhood: Sandpoints

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $103k297k

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

Neighborhood: Sandpoints

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q211001200130014001500160017001800190020002100Rent in $10762107

* 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
Prine Elementary School Primary Regular 852 57 3
Sugg Middle School Middle Regular 771 47 3
Bayshore High School High Regular 1,488 74 4

Prine Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 57
3
GreatSchools Rating

Sugg Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 47
3
GreatSchools Rating

Bayshore High School

  • Education Level: High
  • # of students: 1,488
  • # of teachers: 74
4
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$903
Property Tax -$328
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
-$69

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.

$259,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 11.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,452

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5854$1,6005$1,625
$1,625
RENT COMPS ANALYSIS
  • 3510 Southern Pkwy W Bradenton, FL 1
    • 3 beds 1 baths ∙ 1,190 Sqft ∙ Built 1974 3 beds 1 baths ∙ 1,190 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.18
    •  
  • 3725 43rd Ave W Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1986
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.23
    •  
  • 4011 16th Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.17
    •  
  • 2916 38th Ave W Bradenton, FL 4
    • 3 beds 1 baths ∙ 1,302 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,302 Sqft ∙ Built 1960
    property image
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
  • 3806 Southern Pkwy W Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1979
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.25
    •  
PROPERTY LISTING DETAILS
Shelley Gentile
1.941.932.1795
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494315
Last Updated: 03/14/2021
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