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6308 2nd Ave W Bradenton, FL 34209

4 Beds 2 Baths 1,700 sqft Built 1960

$353,600

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $208.00
  • 3 Days on Market
  • MLS # : A4483101
  • Updated Date : 11/07/2020 at 09:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Beautifully remodeled and appointed 4 bedroom home in the River District of NW Bradenton. The refined paver drive greets you and as you enter the home, an open Great Room floor plan welcomes you. A Chef's kitchen and Island with Quartz countertops makes a great venue for entertaining. The converted garage offers a split plan for the large Master Bedroom and Master Bath with inside laundry. The hallway to bedrooms 2 & 3 are flanked with double linen closets and a Cedar closet. The 4th Bedroom could be a mother-in-law suite with it's own separate entrance, or a great bonus room or family room. The generous back yard is over 1/4 acre and there's room for boat parking on the side yard. The garage door opens to a small utility room or work shop which could also house motorcycles, golf cart, kayaks or bikes. Quiet street and convenient to the beaches, shops and restaurants.

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
King Middle School Middle Regular 1,137 64 4
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

King Middle School

  • Education Level: Middle
  • # of students: 1,137
  • # of teachers: 64
4
GreatSchools Rating

Manatee High School

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

$318,240$388,960$353,600

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,305
Property Tax -$389
Property Insurance -$140
Property Management Fees -$80
CASH FLOW
-$64

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.

$353,600

PROJECTED PRICE

$1,850

PROJECTED RENT

0.52%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$99,454

INVESTMENT

$99,454

Down Payment
$88,400
Rehab Estimate
$5,750
Closing Costs
$5,304

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,305

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,400
Loan Amount $265,200
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$22,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,896

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8504$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 6308 2nd Ave W Bradenton, FL 3
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 6103 11th Ave W Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1975
    property image
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 5805 3rd Ave W Bradenton, FL 2
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 1978
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 7712 3rd Ave W Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1973
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
  • 7308 8th Ave Nw Bradenton, FL 5
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1958 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1958
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
PROPERTY LISTING DETAILS
Karen Mcmichael
1.941.447.4522
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483101
Last Updated: 11/07/2020
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