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6604 Heritage Ln Bradenton, FL 34209

3 Beds 2 Baths 1,303 sqft Built 1983

$339,700

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $260.71
  • 5 Days on Market
  • MLS # : A4488142
  • Updated Date : 01/14/2021 at 14:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,303 sqft
  • Baths : 2 full
Listing Agent

Preferred Shore

Listing Agent's Description

NO HOA! NO CDD! This 3 bedroom, 2 bath home is the perfect starter home for the first time home buyer or small family or the perfect downsizer for the retiree! Situated on a nice sized lot with a newly fenced-in back yard, you will appreciate the privacy that this home affords. The over-sized back patio is screened in offering an outdoor retreat to relax on those cool evenings or to expand entertaining space. The kitchen is complete with stainless steel appliances and granite counter tops while the hall bath has been completely updated with surrounding ceramic tile, glass shower/tub door and vanity cabinet with matching mirror. A large shed structure in the backyard has been outfitted with A/C, windows and hardwood flooring offering additional living space for sleeping, a workout area, mancave or home-based business. The roof is brand new, and spray foam insulation and Low-E thermal insulated windows help keep electrical costs down. Come add some finishing touches and make this place your own. At this price, it won't last, so call today to schedule a tour!

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
Sea Breeze Elementary School Primary Regular 637 42 5
Sugg Middle School Middle Regular 771 47 3
Bayshore High School High Regular 1,488 74 4

Sea Breeze Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 42
5
GreatSchools Rating

Sugg Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 47
3
GreatSchools Rating

Bayshore High School

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

$305,730$373,670$339,700

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,180
Property Tax -$429
Property Insurance -$116
Property Management Fees -$129
CASH FLOW
-$44

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.

$339,700

PROJECTED PRICE

$1,810

PROJECTED RENT

0.53%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$95,771

INVESTMENT

$95,771

Down Payment
$84,925
Rehab Estimate
$5,750
Closing Costs
$5,096

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,925
Loan Amount $254,775
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$18,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5993$1,6994$1,7005$1,810
$1,810
RENT COMPS ANALYSIS
  • 6604 Heritage Ln Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.39
    •  
  • 7215 24th Ave W Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 5920 40th Ave W Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1997
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.17
    •  
  • 6709 34th Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1985
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.24
    •  
  • 6024 40th Ave W Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1995
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.26
    •  
PROPERTY LISTING DETAILS
Michelle Ward
1.941.920.2460
Preferred Shore
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488142
Last Updated: 01/14/2021
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