Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6415 Georgia Ave Bradenton, FL 34207

3 Beds 1 Baths 1,042 sqft Built 1960

$179,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $171.79
  • 6 Days on Market
  • MLS # : A4487663
  • Updated Date : 01/06/2021 at 07:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,042 sqft
  • Baths : 1 full
Listing Agent

W.i.t. Realty Llc

Listing Agent's Description

Bayshore Gardens! 3 bedroom 1 bath block home on huge oversized lot! The hone has approx 1100sqft, 1-2 car carport, all the wonderful amenities bayshore gardens has to offer including boat ramp, Pool, and much more, Great area & location close to awesome beaches shopping dinning, schools and the UTC mall. The seller is in the process of renovating the home and the price will go up as work is completed.

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: 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
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$622
Property Tax -$202
Property Insurance -$100
Property Management Fees -$129
CASH FLOW
$367

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.

$179,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.79%

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$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

15

YEARS SAVED

$44,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $1,279

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,4203$1,4754$1,4855$1,599
$1,599
RENT COMPS ANALYSIS
  • 6415 Georgia Ave Bradenton, FL 2
    • 3 beds 1 baths ∙ 1,042 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,042 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.36
    •  
  • 6519 Case Ave Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1959
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.80
    •  
  • 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
Nathan Dunham
1.941.330.5080
W.i.t. Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487663
Last Updated: 01/06/2021
BESbswy