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721 65th Ave E Bradenton, FL 34203

3 Beds 2 Baths 1,714 sqft Built 1974

$274,500

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $160.15
  • 4 Days on Market
  • MLS # : A4488518
  • Updated Date : 01/15/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,714 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful, well maintained single family home, recently painted, 2 year old roof, brand new AC, stainless steel appliances, open plan, close to shopping, no-deed restrictions. Hurry, won't last long.

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: Oneco

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280kPrice in $52k297k

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

Neighborhood: Oneco

NeighborhoodNIR Market*CityMarket20102015Year20082019 Q211001200130014001500160017001800190020002100Rent in $10372107

* 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
Abel Elementary School Primary Regular 554 40 3
Lee Magnet Middle School Middle Magnet 1,034 59 2
Southeast High School High Regular 1,457 68 5

Abel Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
3
GreatSchools Rating

Lee Magnet Middle School

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

Southeast High School

  • Education Level: High
  • # of students: 1,457
  • # of teachers: 68
5
GreatSchools Rating
 

$247,050$301,950$274,500

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$953
Property Tax -$302
Property Insurance -$141
Property Management Fees -$129
CASH FLOW
-$6

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.

$274,500

PROJECTED PRICE

$1,520

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,493

INVESTMENT

$78,493

Down Payment
$68,625
Rehab Estimate
$5,750
Closing Costs
$4,118

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$953

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,625
Loan Amount $205,875
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4903$1,5204$1,8955$1,975
$1,975
RENT COMPS ANALYSIS
  • 721 65th Ave E Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,714 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.89
    •  
  • 1316 Doris Dr Sarasota, FL 1
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1974
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.78
    •  
  • 6616 Cantore Pl Sarasota, FL 2
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 1968
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.86
    •  
  • 6612 Conetta Dr Sarasota, FL 4
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 1974
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.01
    •  
  • 627 Saint Andrews Dr Sarasota, FL 5
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1972
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.11
    •  
PROPERTY LISTING DETAILS
Rita Smith
1.941.321.3224
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4488518
Last Updated: 01/15/2021
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