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3704 Highland Ave W Bradenton, FL 34205

4 Beds 3 Baths 1,927 sqft Built 1974

$269,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $139.60
  • 7 Days on Market
  • MLS # : A4483311
  • Updated Date : 11/11/2020 at 22:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,927 sqft
  • Baths : 3 full
Listing Agent

Suncoast Realty Group Llc

Listing Agent's Description

Don't miss your chance to own this VERY SPACIOUS home that sits on a large corner lot. This home has the potential for a 5th bedroom, den or office. Two of the bedrooms have en suite bathrooms. The indoor laundry room has plenty of storage. The incredibly large back room could be used as a mother-in-law suite or master bedroom. The large corner lot has a shed for storage,a covered patio and plenty of room for entertaining. Conveniently located to restaurants, shopping and just minutes from beautiful Gulf Beaches.

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: 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
 

$242,100$295,900$269,000

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 -$992
Property Tax -$340
Property Insurance -$154
Property Management Fees -$80
CASH FLOW
$233

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.

$269,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.67%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$48,198

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
  • $0.93

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6353$1,6354$1,8005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3704 Highland Ave W Bradenton, FL 4
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 4702 W 36th Ave Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1984
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 3309 22nd Ave W Bradenton, FL 2
    • 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
    •  
  • 2219 25th Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1970
    LEASED 08/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.90
    •  
  • 2306 45th Ct W Bradenton, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Brooke Moran
1.941.705.3351
Suncoast Realty Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483311
Last Updated: 11/11/2020
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