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6231 Georgia Ave Bradenton, FL 34207

3 Beds 1 Baths 1,032 sqft Built 1962

$199,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $192.83
  • 2 Days on Market
  • MLS # : T3295552
  • Updated Date : 03/13/2021 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,032 sqft
  • Baths : 1 full
Listing Agent

Home Town Realty, Inc.

Listing Agent's Description

Charming 3 Bedroom 1 Bath Home with huge backyard for your outdoor fun! Walking distance to Bayshore Elementary and IMG Academy. A fee of $367.00 per year is added to property tax bill for the Bayshore Garden Parks & Recreation which offers its residents a Jr. Olympic-size swimming pool, large pool deck/patio area, playground, picnic pavilions and BBQ grills throughout the park, recreation hall with kitchen, a baseball field, and community MARINA complete with PRIVATE BOAT RAMP, BOAT DOCKS, fishing pier and clean up station! There are 97 boat slips to accommodate boats with water & electric included. Kayak access to the Sarasota Bay available in the Park with kayak storage available. Minutes to SRQ Airport, downtowns Bradenton and Sarasota as well as all of the necessary shopping. About 20 minutes to our wonderful Anna Maria Island Beaches.

SEE MORE

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

Neighborhood: Bay Shore Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $52k297k

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

Neighborhood: Bay Shore Gardens

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q2100011001200130014001500160017001800190020002100Rent in $9612107

* 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
Bayshore Elementary School Primary Regular 789 58 3
Lee Magnet Middle School Middle Magnet 1,034 59 2
Bayshore High School High Regular 1,488 74 4

Bayshore Elementary School

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 58
3
GreatSchools Rating

Lee Magnet Middle School

  • Education Level: Middle
  • # of students: 1,034
  • # of teachers: 59
2
GreatSchools Rating

Bayshore High School

  • Education Level: High
  • # of students: 1,488
  • # of teachers: 74
4
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$691
Property Tax -$219
Property Insurance -$99
HOA -$31
Property Management Fees -$129
CASH FLOW
$221

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.

$199,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.8%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$34,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $1,476

    COMP ESTIMATED VALUE
  • $1.43

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4003$1,4754$1,4855$1,599
$1,599
RENT COMPS ANALYSIS
  • 6231 Georgia Ave Bradenton, FL 1
    • 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.35
    •  
  • 2315 Amherst Ave Bradenton, FL 2
    • 3 beds 1 baths ∙ 870 Sqft ∙ Built 1959 3 beds 1 baths ∙ 870 Sqft ∙ Built 1959
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.61
    •  
  • 2008 Princeton Ave Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1956
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.30
    •  
  • 1811 Roslyn Ave Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1956
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.35
    •  
  • 6123 Dartmouth Dr Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1957
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.46
    •  
PROPERTY LISTING DETAILS
Sang Nguyen
1.941.726.4036
Home Town Realty, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3295552
Last Updated: 03/13/2021
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