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7516 24th Ave W Bradenton, FL 34209

3 Beds 2 Baths 1,447 sqft Built 1981

$299,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $206.63
  • 6 Days on Market
  • MLS # : A4482141
  • Updated Date : 10/29/2020 at 08:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,447 sqft
  • Baths : 2 full
Listing Agent

Marcus & Company Realty

Listing Agent's Description

Welcome home to this adorable single family home located minutes to the beach and walking distance to the Palma Sola bay. You will love living in this neighborhood and watching the manatees gather in the marina basin. This home features 3 bedrooms and 2 full baths as well as an open concept living/dining combo and three sets of slider doors leading to the oversized patio and POOL! This home has a newer water heater as well as a new extended patio and recent updates to the main bathroom. Live the Florida life all year round while enjoying your screened in lanai and oversized yard perfect for entertaining. Schedule your showing today before this amazing home is gone!

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

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,103
Property Tax -$329
Property Insurance -$125
Property Management Fees -$80
CASH FLOW
$243

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.

$299,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.63%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$53,069

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,6003$1,6004$1,6995$1,880
$1,880
RENT COMPS ANALYSIS
  • 7516 24th Ave W Bradenton, FL 5
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.30
    •  
  • 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
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 7508 22nd Ave W Bradenton, FL 2
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1979
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 7507 22nd Ave W Bradenton, FL 3
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1980
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 6709 34th Ave W Bradenton, FL 4
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1985
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.24
    •  
PROPERTY LISTING DETAILS
Jessica Adair
1.941.345.0178
Marcus & Company Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4482141
Last Updated: 10/29/2020
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