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506 26th Ave W Bradenton, FL 34205

3 Beds 2 Baths 1,152 sqft Built 1972

$179,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $155.38
  • 4 Days on Market
  • MLS # : A4492461
  • Updated Date : 02/26/2021 at 16:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,152 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Fantastic bungalow in such a great location! This home has a brand new roof just installed in February of 2021, updated mechanicals, renovated bathrooms and so much more! A wonderful family home, it would also make an excellent rental property for a savvy investor. Deck in the side yard is the perfect place for cooking out and enjoying the fenced in yard with garden beds and a shed in the back for storage. Most renovations have been completed in the last few years, including flooring, gutters and soffits, and the a/c system was new in March of 2019. The master bedroom has an ensuite bath with floor to ceiling tile and a rain-head shower. The 2nd and 3rd bedrooms have a walk-through closet and share the renovated hall bath. The laundry room is off the kitchen and has ample storage along with access to the yard. This home will not last!

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

Neighborhood: High Point

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180k200k220k240k260k280kPrice in $36k297k

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

Neighborhood: High Point

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2100011001200130014001500160017001800190020002100Rent in $9052107

* 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
Rogers Garden-bullock Elementary Primary Magnet 282 20 NA
King Middle School Middle Regular 1,137 64 4
Southeast High School High Regular 1,457 68 5

Rogers Garden-bullock Elementary

  • Education Level: Primary
  • # of students: 282
  • # of teachers: 20
NA
GreatSchools Rating

King Middle School

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

Southeast High School

  • Education Level: High
  • # of students: 1,457
  • # of teachers: 68
5
GreatSchools Rating
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$622
Property Tax -$226
Property Insurance -$107
Property Management Fees -$129
CASH FLOW
$436

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.

$179,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

16.08

YEARS SAVED

$47,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,371

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,4493$1,5204$1,6005$1,685
$1,685
RENT COMPS ANALYSIS
  • 506 26th Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.32
    •  
  • 701 26th Ave W Bradenton, FL 1
    • 3 beds 2 baths ∙ 988 Sqft ∙ Built 1988 3 beds 2 baths ∙ 988 Sqft ∙ Built 1988
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.21
    •  
  • 1900 27th Ave W Bradenton, FL 2
    • 4 beds 2 baths ∙ 1,260 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,260 Sqft ∙ Built 1954
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $1.15
    •  
  • 2916 38th Ave W Bradenton, FL 4
    • 3 beds 1 baths ∙ 1,302 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,302 Sqft ∙ Built 1960
    property image
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
  • 3006 22nd Ave W Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1972
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.17
    •  
PROPERTY LISTING DETAILS
Ryan Skrzypkowski
1.941.329.6505
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4492461
Last Updated: 02/26/2021
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