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5814 Pleasant Grove Ct Bradenton, FL 34203

3 Beds 2 Baths 2,192 sqft Built 1993

INVESTimate

$340,000

List Price

$2,190

$1,971 - $2,409

Rent Est.

$358,598  ( +5.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $155.11
  • 7 Days on Market
  • MLS # : A4475851
  • Updated Date : 08/21/2020 at 08:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,192 sqft
  • Baths : 2 full
Listing Agent

Michael Saunders & Company

Listing Agent's Description

Look no further! Best lot location in Tara Golf & Country Club; perfectly centered on the most expansive & beautiful lake with views of the golf course & clubhouse beyond. Enjoy spectacular sunsets. Private cul-de-sac location featuring great curb appeal with paver driveway & walkway and mature landscaping. Double entry doors welcome you to an ideal split plan. Quality updates and features: barrel tile roof (replaced 2018), A/C replaced 2018, granite counter tops & elevated breakfast bar, newer stainless appliances (2017), high ceilings (12 ft in family room) his/hers master walk-in closets, sunburst style windows in family room & dining room. TWO spacious covered lanais and more! This property conveys with a "Class A" membership which includes full golf privileges. Recently completed multi-million dollar renovation of the golf course, new tennis courts, clubhouse, restaurant & fitness center. Tara is one of the least expensive private golf course communities in Manatee or Sarasota counties Easy access to I-75 and UTC. Only minutes away from the cultural centers of Sarasota, Bradenton & our beautiful gulf beaches.

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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

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,254
Property Tax -$374
Property Insurance -$171
HOA -$76
Property Management Fees -$80
CASH FLOW
$234

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.

$340,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 5.47%
Maintenance Year (1-5) 8.00%
Vacancy 3.71%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$53,510

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1503$2,1904$2,2005$2,500
$2,500
RENT COMPS ANALYSIS
  • 5814 Pleasant Grove Ct Bradenton, 3
    • 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.00
    •  
  • 6312 Cormorant Ct Bradenton, 1
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 2003
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 7527 Birds Eye Ter Bradenton, 2
    • 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 2005
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.01
    •  
  • 7124 Drewrys Blf Bradenton, 4
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 1997
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 6221 Cormorant Ct Bradenton, 5
    • 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 2004
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.07
    •  
PROPERTY LISTING DETAILS
Dan Freed
1.941.735.0770
Michael Saunders & Company
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4475851
Last Updated: 08/21/2020
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