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6030 39th Ct E Bradenton, FL 34203

3 Beds 2 Baths 2,450 sqft Built 2004

$340,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $138.78
  • 3 Days on Market
  • MLS # : A4494336
  • Updated Date : 03/19/2021 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,450 sqft
  • Baths : 2 full
Listing Agent

Exit Sunset Realty

Listing Agent's Description

This home will make you happy! Centrally located to all Bradenton and Sarasota have to offer. Original owner, 3 CAR GARAGE and oversized driveway, NEW A/C (2018), with wood floors in the common areas and extended lanai on the back. 3 bedrooms and a flex room which can be used as a bedroom or an office. Barrington Ridge is quality living at an affordable price, with a community pool and playground area, only $196 quarterly for home owner association dues, and NO CDD's. The quarterly dues cover: landscape maintenance and irrigation in the common area and the community pool expenses. The home is mostly original and owner was a smoker, but at this price you will have room to make this home exactly what you want it to be! A home like this is hard to find with a shortage of inventory and a fast moving market! Home may need 45 to 60 days to close due to the processing of the estate.

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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

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

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,181
Property Tax -$374
Property Insurance -$186
HOA -$65
Property Management Fees -$129
CASH FLOW
$304

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

$2,240

PROJECTED RENT

0.66%

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$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

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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$52,822

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,450

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2403$2,5004$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 6030 39th Ct E Bradenton, FL 2
    • 3 beds 2 baths ∙ 2,450 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,450 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.91
    •  
  • 6009 39th Ct E Bradenton, FL 1
    • 3 beds 2 baths ∙ 2,429 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,429 Sqft ∙ Built 2004
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.90
    •  
  • 4628 Garden Arbor Way Bradenton, FL 3
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2013
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.07
    •  
  • 4707 Garden Arbor Way Bradenton, FL 4
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2014
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
  • 5723 Arbor Wood Ct Bradenton, FL 5
    • 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Socha Goyette
1.941.223.9087
Exit Sunset Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4494336
Last Updated: 03/19/2021
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