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3603 15th Ave W Bradenton, FL 34205

3 Beds 2 Baths 1,717 sqft Built 1973

$230,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $133.95
  • 3 Days on Market
  • MLS # : A4485542
  • Updated Date : 12/11/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,717 sqft
  • Baths : 2 full
Listing Agent

Keller Williams On The Water

Listing Agent's Description

Don't miss your chance to own this immaculately maintained home! This three bedroom, two bathroom home sits on an oversized sized lot with a huge fenced in backyard with plenty of room for your boat or camper. No HOA or CDD fees and would make a great short term rental or an amazing future home. Recently replaced roof in 2018. Don't miss the opportunity to own this great home in the heart of Bradenton, close to area beaches, IMG Academy, Bradenton Riverwalk, and more!

SEE MORE

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: 34205

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $63k297k

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

Zip Code: 34205

ZipNIR Market*CityMarket20102015Year20082019 Q2100011001200130014001500160017001800190020002100Rent in $10002107

* 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
Miller Elementary School Primary Regular 828 52 5
Sugg Middle School Middle Regular 771 47 3
Manatee High School High Regular 2,409 115 5

Miller Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 52
5
GreatSchools Rating

Sugg Middle School

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

Manatee High School

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

$207,000$253,000$230,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$849
Property Tax -$257
Property Insurance -$141
Property Management Fees -$129
CASH FLOW
$344

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.

$230,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 11.2%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$56,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6354$1,6495$1,720
$1,720
RENT COMPS ANALYSIS
  • 3603 15th Ave W Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.00
    •  
  • 3211 18th Ave W Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1956
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 5124 4th Ave W Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1988
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 3309 22nd Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1971
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.95
    •  
  • 4504 21st Ave W Bradenton, FL 4
    • 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1956
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.08
    •  
PROPERTY LISTING DETAILS
Cynthia Stillings
1.941.400.9623
Keller Williams On The Water
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4485542
Last Updated: 12/11/2020
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