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7220 6th Ave Nw Bradenton, FL 34209

3 Beds 2 Baths 1,782 sqft Built 1979

$385,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $216.05
  • 3 Days on Market
  • MLS # : A4491315
  • Updated Date : 02/13/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,782 sqft
  • Baths : 2 full
Listing Agent

Premier Sothebys Intl Realty

Listing Agent's Description

Solid block house located on a quiet NW Bradenton Avenue with wide sidewalks and mature trees situated between Palma Sola Elementary and King Middle School. Positioned on two lots (0.3343 acres) completely fenced with beautiful oak trees and an extra parking pad with room to park your boat or RV. Popular floor plan with kitchen that opens to family room, foyer, living and dining combination and two French doors open to large screened porch. Large sized utility room with extra storage. Brand new roof in 2017 with warranty. Deep well with irrigation system. No HOA fees and located in flood zone X. So much potential and ready for new owners to make it theirs.

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 34209

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k318k

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

Zip Code: 34209

ZipNIR Market*CityMarket20102015Year20082019 Q21200130014001500160017001800190020002100Rent in $11792130

* 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
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,337
Property Tax -$424
Property Insurance -$145
Property Management Fees -$129
CASH FLOW
$205

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.

$385,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.43%
Appreciation Year (1-5) 8.0%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

8.83

YEARS SAVED

$46,772

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,036

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,829
1$1,8292$1,8753$1,9004$1,9505$2,240
$2,240
RENT COMPS ANALYSIS
  • 7220 6th Ave Nw Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.26
    •  
  • 7209 3rd Ave Nw Bradenton, FL 1
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1984
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,829
    • $1.11
    •  
  • 911 72nd St Nw Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1989
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.08
    •  
  • 6912 9th Ave Nw Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1960
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.17
    •  
  • 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
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
PROPERTY LISTING DETAILS
Martha Marlar
1.941.812.0455
Premier Sothebys Intl Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4491315
Last Updated: 02/13/2021
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