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3807 24th Ave W Bradenton, FL 34205

4 Beds 2 Baths 1,988 sqft Built 1979

$325,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $163.48
  • 3 Days on Market
  • MLS # : A4482988
  • Updated Date : 11/06/2020 at 10:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,988 sqft
  • Baths : 2 full
Listing Agent

1st Premier Intl Properties

Listing Agent's Description

Welcome to your dream 4 bedroom, 2 bath home, located in the desirable community of Pine Lakes!  From the moment you arrive at your sizable front porch and walk through an oversized custom 40 inch vintage chic doorway, you will be welcomed with a stunning updated open floor plan.  NuCoreRiver luxury vinyl plank flooring throughout the entire home is not only water proof, scratch proof, but guaranteed to last for life!  A stunning kitchen ready for entertaining and a chef's delight with custom shaker soft close cabinets with high end granite countertops, LED lighting, all new stainless steel LG appliances, kitchen island with extra storage, outlets with USB connections, and an extra storage cabinet with custom barn door.  Open living area to kitchen and breakfast nook leads you to another formal dining area with extra space for a secondary living area, den, the choice is yours!  Split floor plan with main bedroom and en suite bathroom offers blackout shades, walk-in closet, and a fully remodeled bathroom with stand up shower and high end finishes.  A fourth bedroom located near the master bedroom is a great addition for an office, bedroom, or private den.  Two additional bedrooms and bathroom located on the opposite end of the home continue with large closets, new ceiling fans, blackout window shades, and high end finishes in the bathroom with tub/shower combo.  A Masonite custom door leads you to your oversized backyard, a perfect place for entertaining, gardening, adding a pool, the sky's the limit with this backyard!  And did I mention the all new hurricane proof windows throughout the home! NO HOA or CDD fees only helps make this stunning home the one to say yes to.  Located close to many amenities, including shopping, entertainment and minutes to the beautiful beaches!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,199
Property Tax -$411
Property Insurance -$158
Property Management Fees -$80
CASH FLOW
-$28

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.

$325,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.56%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$22,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,894

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6353$1,6354$1,8205$2,100
$2,100
RENT COMPS ANALYSIS
  • 3807 24th Ave W Bradenton, FL 4
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.92
    •  
  • 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
Shannon Davis
1.941.404.1848
1st Premier Intl Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482988
Last Updated: 11/06/2020
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