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5611 E 47th Ct Bradenton, FL 34203

3 Beds 2 Baths 1,537 sqft Built 1998

$299,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $195.12
  • 2 Days on Market
  • MLS # : A4487348
  • Updated Date : 01/02/2021 at 17:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,537 sqft
  • Baths : 2 full
Listing Agent

Exit King Realty

Listing Agent's Description

This home is clean, empty and ready for you to move in. Boasting a bright open floor plan, screened lanai and a private back yard with low noise and and low HOA fees The roof was just replaced in 2020, carpet throughout the house was replaced in December 2020, newer washer, dryer and refrigerator, the water heater 5 years old and AC is 8 years old. This is a great home with all of the major items taken care of and priced so you can update to your own liking. Nestled near the back of Braden Crossings subdivision in a rapidly growing area of Bradenton with quick access to local shops and restaurants and just minutes from I-75 and the Sarasota Airport, you'll enjoy all of the conveniences of the Sarasota Lifestyle without the Sarasota Prices.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,107
Property Tax -$330
Property Insurance -$130
HOA -$55
Property Management Fees -$129
CASH FLOW
-$51

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.

$299,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$19,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,8504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 5611 E 47th Ct Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
  • 4554 Runabout Way Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2000
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.13
    •  
  • 4843 Silvermoss Dr Sarasota, FL 3
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 2013
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
  • 4939 Clubview Ct E Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1988
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.20
    •  
  • 4509 Cabbage Key Ter Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2000
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.13
    •  
PROPERTY LISTING DETAILS
Brian Best
1.941.587.2551
Exit King Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487348
Last Updated: 01/02/2021
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