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3603 Summerwind Cir Bradenton, FL 34209

3 Beds 2 Baths 2,021 sqft Built 2006

$409,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $202.38
  • 2 Days on Market
  • MLS # : A4488676
  • Updated Date : 01/17/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full
Listing Agent

Dwell Real Estate

Listing Agent's Description

Enjoy true Florida style living in the sought after community of Palma Sola Trace. Minutes from the world famous beaches of Anna Maria Island and centrally located to shopping, dining and entertainment. A quick turn inside the entrance brings you to this well maintained three bedroom, two bath home, with it’s comfortable open floor plan. Inside the front foyer you’ll find tray ceilings in the spacious living room and adjacent kitchen with separate dinette area. The large sliding doors open on to the lanai where you’ll enjoy your morning coffee or evening cocktails overlooking your lovely view of the lake. The Master bedroom also boasts a tray ceiling and a four piece en suite. With this true maintenance- free living, you’ll be able to take a short walk out your front door and enjoy the oversized community pool and beautifully appointed club house with a fully equipped workout room.

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

Neighborhood: West Bradenton

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $97k297k

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

Neighborhood: West Bradenton

NeighborhoodNIR 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
Sea Breeze Elementary School Primary Regular 637 42 5
Sugg Middle School Middle Regular 771 47 3
Bayshore High School High Regular 1,488 74 4

Sea Breeze Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 42
5
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
 

$368,100$449,900$409,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,421
Property Tax -$536
Property Insurance -$160
HOA -$237
Property Management Fees -$129
CASH FLOW
-$93

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.

$409,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 8.2%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,615

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3503$2,3504$2,390
$2,390
RENT COMPS ANALYSIS
  • 3603 Summerwind Cir Bradenton, FL 4
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.18
    •  
  • 2306 45th Ct W Bradenton, FL 1
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 1993
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 3731 Summerwind Cir Bradenton, FL 2
    • 3 beds 2 baths ∙ 2,189 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,189 Sqft ∙ Built 2006
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
  • 3755 Summerwind Cir Bradenton, FL 3
    • 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 2006
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.02
    •  
PROPERTY LISTING DETAILS
Carl Marino, Jr
1.941.920.6655
Dwell Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488676
Last Updated: 01/17/2021
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