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4115 2nd Ave Nw Bradenton, FL 34209

3 Beds 2 Baths 1,196 sqft Built 1987

INVESTimate

$249,900

List Price

$1,650

$1,485 - $1,815

Rent Est.

$270,317  ( +8.17%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $208.95
  • 4 Days on Market
  • MLS # : A4475722
  • Updated Date : 08/25/2020 at 07:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 2 full
Listing Agent

Re/max Alliance Group

Listing Agent's Description

NORTH WEST Bradenton Winner! Adorable and immaculate 3B/2B w/ 2 car garage~fenced private back yard and boat parking. Cozy screened in front porch, SPACIOUS front yard and plenty of room for parking! An UPDATED KITCHEN featuring all newer Cabinets (2013), granite countertops, a generous eat-in area and the newer Frigidaire Gallery Stainless Steel appliances are sure to please the family chef...a GREAT ROOM floor plan with vaulted ceilings offers room for festive family gatherings and is guaranteed to fit a big screen TV. Gorgeous Bamboo flooring throughout, NEW AC and duct-work in 2020 by Air and Energy, Shingle Roof 2013. BONUS $4500 shed in the back yard new in 2017 conveys with the sale. This home located close to St. Stephens Episcopal school, Jessie P. Miller Elementary and is ideally positioned to enjoy the proximity Anna Maria Island beaches, (7 miles) restaurants, shopping centers, and a selection of premier schools. Plenty of room for a pool! Available quickly for immediate occupancy! NO Homeowners association, no deed restrictions and not in a flood zone. Come make this your beautiful new place to call home!

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MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

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
Miller Elementary School Primary Regular 828 52 5
King Middle School Middle Regular 1,137 64 4
Manatee High School High Regular 2,409 115 5

Miller Elementary School

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

King Middle School

  • Education Level: Middle
  • # of students: 1,137
  • # of teachers: 64
4
GreatSchools Rating

Manatee High School

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

$224,910$274,890$249,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

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$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$922
Property Tax -$275
Property Insurance -$109
Property Management Fees -$80
CASH FLOW
$263

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.

$249,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 8.17%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$51,524

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,337

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6254$1,6505$1,685
$1,685
RENT COMPS ANALYSIS
  • 4115 2nd Ave Nw Bradenton, 4
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.38
    •  
  • 2524 20th Ave W Bradenton, 1
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2000
    LEASED 12/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.16
    •  
  • 4126 19th Ave W Bradenton, 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1974
    LEASED 04/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 3109 22nd Ave W Bradenton, 3
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1972
    LEASED 04/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.08
    •  
  • 3006 22nd Ave W Bradenton, 5
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1972
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.17
    •  
PROPERTY LISTING DETAILS
Cindy Quinn
1.941.780.8000
Re/max Alliance Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475722
Last Updated: 08/25/2020
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