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5002 34th Ave W Bradenton, FL 34209

3 Beds 2 Baths 1,302 sqft Built 1979

$275,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $211.21
  • 5 Days on Market
  • MLS # : A4482802
  • Updated Date : 11/05/2020 at 13:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,302 sqft
  • Baths : 2 full
Listing Agent

Salty Mermaid Real Estate Llc

Listing Agent's Description

Location, location, location!!! This spacious 3 bedroom 2 bathroom home is perfectly situated in Westfield Woods directly across the street from GT Bray Park in West Bradenton. Featuring a split floor plan, large 2 car garage, and the perfect corner lot for all your outdoor activities. Plenty of room to add a pool too! NEW ROOF & AC SYSTEM IN 2018 AS WELL AS A NEW ELECTRICAL PANEL IN 2016! All of the big ticket items have already been done… This home is ready for you to come and add your finishing touches!!! Schedule a showing today!

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: 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
Moody Elementary School Primary Regular 649 46 3
Sugg Middle School Middle Regular 771 47 3
Bayshore High School High Regular 1,488 74 4

Moody Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 46
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,015
Property Tax -$347
Property Insurance -$116
Property Management Fees -$80
CASH FLOW
$152

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.

$275,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.62%

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

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

8.92

YEARS SAVED

$39,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,484

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6493$1,6754$1,7005$1,710
$1,710
RENT COMPS ANALYSIS
  • 5002 34th Ave W Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.31
    •  
  • 5920 40th Ave W Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1997
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.17
    •  
  • 5201 35th Ave W Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1977
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.07
    •  
  • 5114 38th Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1981
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.06
    •  
  • 6024 40th Ave W Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.26
    •  
PROPERTY LISTING DETAILS
Jason Hrnak
1.941.773.6572
Salty Mermaid Real Estate Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482802
Last Updated: 11/05/2020
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