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6610 1st Ave E Bradenton, FL 34208

3 Beds 1 Baths 1,323 sqft Built 1978

$244,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $185.11
  • 6 Days on Market
  • MLS # : A4488839
  • Updated Date : 01/23/2021 at 07:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,323 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Recently updated 3 bedroom/ 1 bathroom home in Manatee Palms. Updates include newer roof, AC, granite counter tops, fence, widened driveway, recessed led lighting, wall/ceiling texture, paint interior/exterior, lighting and plumbing fixtures, ceiling fans, carpeting, tile, hot water heater, stainless appliances and exterior/interior doors. Easy access to I-75/SR64, shopping, restaurants and schools. Very well maintained home. Also this convenient neighborhood has a park and playground close by with no HOA.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 34208

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k297k

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

Zip Code: 34208

ZipNIR Market*CityMarket20102015Year20082019 Q2100011001200130014001500160017001800190020002100Rent in $9992107

* 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
Gullett Elementary School Primary Regular 673 41 8
Haile Middle School Middle Regular 1,068 56 6
Braden River High School High Regular 1,999 90 6

Gullett Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 41
8
GreatSchools Rating

Haile Middle School

  • Education Level: Middle
  • # of students: 1,068
  • # of teachers: 56
6
GreatSchools Rating

Braden River High School

  • Education Level: High
  • # of students: 1,999
  • # of teachers: 90
6
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$851
Property Tax -$270
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
$4

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.

$244,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 6.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$16,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,486

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,5503$1,5704$1,750
$1,750
RENT COMPS ANALYSIS
  • 6610 1st Ave E Bradenton, FL 1
    • 3 beds 1 baths ∙ 1,323 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,323 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.04
    •  
  • 4534 Fern Dr Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1995
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.05
    •  
  • 4411 4th Ave E Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1981
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.22
    •  
  • 4851 8th Ave E Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1989
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
PROPERTY LISTING DETAILS
Brian Leakeas
1.941.840.0190
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488839
Last Updated: 01/23/2021
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