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5302 17th Ave W Bradenton, FL 34209

3 Beds 2 Baths 2,220 sqft Built 1988

$369,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $166.22
  • 4 Days on Market
  • MLS # : A4487741
  • Updated Date : 01/07/2021 at 13:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,220 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

This enchanting, updated home with a peaceful lake view in West Bradenton is the perfect place to call home. Enter onto the circular driveway and arrive at this stunning residence where you will discover extensive remodeling in a tasteful color palette. Easy living with a split floor plan, all newer impact windows, vaulted ceilings, cozy wood-burning fireplace in the family room, and an indoor laundry room. Gorgeous, updated kitchen with attractive cabinetry, newer (4 years young) stainless steel appliances, granite counters, and beautiful tile backsplash. The back Florida room adds additional living space with tile flooring and an extra storage space. Beyond the Florida room outdoors is a paver brick patio overlooking the scenic lake. Keep the large (over quarter-acre) property looking good with irrigation from the lake via a sprinkler system with a new control unit added in 2020. Newer A/C added just 3 years ago. The back yard has chain link fencing on both sides down to the lake, plus there is wiring for pet fencing. In addition to so many wonderful features, the home is perfectly located close to Bradenton Country Club, world famous Gulf of Mexico beaches, Blake Hospital, doctors, and shopping.

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
Palma Sola Elementary School Primary Regular 570 38 5
Sugg Middle School Middle Regular 771 47 3
Manatee High School High Regular 2,409 115 5

Palma Sola Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 38
5
GreatSchools Rating

Sugg Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 47
3
GreatSchools Rating

Manatee High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,282
Property Tax -$466
Property Insurance -$172
Property Management Fees -$129
CASH FLOW
$91

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.

$369,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.58%

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$1.2M$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$32,827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,142

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1003$2,1404$2,1955$2,350
$2,350
RENT COMPS ANALYSIS
  • 5302 17th Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.96
    •  
  • 6803 Heritage Ln Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1983
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 2306 45th Ct W Bradenton, FL 2
    • 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
    •  
  • 5715 3rd Ave W Bradenton, FL 4
    • 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 1982
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
  • 3755 Summerwind Cir Bradenton, FL 5
    • 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 2006
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kathy Valente
1.941.685.6767
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487741
Last Updated: 01/07/2021
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