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3908 61st Ave E Bradenton, FL 34203

3 Beds 2 Baths 2,081 sqft Built 2005

$345,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $165.79
  • 3 Days on Market
  • MLS # : T3296500
  • Updated Date : 03/20/2021 at 17:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,081 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Advantage

Listing Agent's Description

An amazing 3 bedroom, 2 bathrooms, 2 car garage home with an incredibly breathtaking pond view located in Barrington Ridge. No CDD and Low HOA with community pool and playground 2 blocks away. Upon entry, you are greeted with a formal living and dining room which then opens up to the spacious kitchen and great room combo. The kitchen has been updated to include Stainless Steel appliances, granite countertops, and granite backsplash. The kitchen also contains a kitchenette, closet pantry, and breakfast bar for entertaining. The master bedroom has a large walk-in closet while the master bathroom contains a separate shower, garden tub, dual sinks, and granite countertops. The other 2 bedrooms are separated by a bonus room which would be perfect for a game room or office. Near I-75 and Siesta Keys beach minutes away. 3D view at https://my.matterport.com/show/?m=NbqbBDkdoRG&brand=0.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 34203

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k302k

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

Zip Code: 34203

ZipNIR 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
Tara Elementary School Primary Regular 606 40 6
Braden River Middle School Middle Regular 977 56 5
Braden River High School High Regular 1,999 90 6

Tara Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 40
6
GreatSchools Rating

Braden River Middle School

  • Education Level: Middle
  • # of students: 977
  • # of teachers: 56
5
GreatSchools Rating

Braden River High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 90
6
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,198
Property Tax -$380
Property Insurance -$164
HOA -$65
Property Management Fees -$129
CASH FLOW
$164

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.

$345,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.5%
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$5.0k$10k$15k$20k

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$38,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,112

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,1003$2,1004$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3908 61st Ave E Bradenton, FL 4
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 4708 Woodbrook Dr Sarasota, FL 1
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 2012
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.92
    •  
  • 4635 61st Dr E Bradenton, FL 2
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2005
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 4309 61st Ave E Bradenton, FL 3
    • 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 2004
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.05
    •  
  • 3715 65th Ave E Sarasota, FL 5
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2006
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.11
    •  
PROPERTY LISTING DETAILS
Vickie Mitchell
1.813.625.7525
Realty One Group Advantage
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3296500
Last Updated: 03/20/2021
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