4802 51st St W #214 · Bradenton, FL 34210

$149,900

2 bd · 1.0 ba · 1,008 sqft · Condo public records · 10 Days on market

Built 2002 $421/mo HOA · 22% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.6/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this spacious ground-floor 2-bedroom, 1-bath condo featuring a large covered and screened-in patio perfect for enjoying the Florida lifestyle. Offering great square footage and endless potential, this unit is ready for a new owner to bring their vision and personal touches to life. The seller is offering a $3,000 flooring and paint allowance, providing a head start on updates and customization. Priced attractively for the size and location, this is an excellent opportunity for a primary residence, seasonal retreat, or investment property. Conveniently located near shopping, dining, beaches, and everyday amenities. Don’t miss the chance to unlock the value and m

Key facts

• End unit
• Screened-in patio
• Large covered patio

Tags

• LARGE COVERED PATIO
• SCREENED-IN PATIO
• CONVENIENTLY LOCATED
• END UNIT

Property features AI

Finance

• Other: Unfurnished; Living area approximately 1,008 square feet
• Financial info: Total annual fees $5,052; Lease restrictions apply
• HOA & community: Monthly condo fee of $421 (includes cable TV, common area taxes, pool, escrow reserves, fidelity bond, structure & grounds maintenance, management, pest control, sewer, trash, water); Association approval required; Association: Castle Management Group - David Chandler; Community amenities include clubhouse, fitness center, playground, pool, tennis courts, community mailbox; Buyer approval required for association; Pets allowed with restrictions (breed, number, size; max 65 lbs)

Exterior

• Parking: Common parking
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Residential condominium; One level; Faces south; Completed condition
• Construction: Block construction; Shingle roof; Slab foundation; Built as part of a multi-story building (3 stories total)
• Exterior features: Covered screened front porch; Sidewalk; Storage

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heat; Central air
• Interior features: Ceiling fans; Open floor plan; Walk-in closets; Window treatments; Blinds
• Laundry & utility: Washer and dryer in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 7.7% vs local median 3.6% in Bradenton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#101 in FL, #1,528 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Sea Breeze Elementary School (math 48% / reading 43%, grade D-, #1,247 of 2,144 statewide, top 59%, 499 students, 74% FRL); W. D. Sugg Middle School (math 34% / reading 28%, grade F, #462 of 571 statewide, top 81%, 1,010 students, 72% FRL); Bayshore High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 1,435 students, 65% FRL) — zoned schools average 70% FRL vs 51% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 52% district-wide (-19 pts) — the specific schools serving this property underperform the Manatee average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-6.1%/yr); 556 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 36% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.55×
• Total profit: $-18,689
• Equity at exit: $22,351

10-year hold

• IRR: -11.0%
• Equity multiple: 0.45×
• Total profit: $-23,090
• Equity at exit: $12,961

Cash invested: $41,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34210

• Rents YoY: -6.1%
• Active inventory: 556
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$786
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$62
• HOA: −$421
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $174

Break-even live

Break-even rent $1,722

Max offer price $149,900

Occupancy floor 86%

Sensitivity live

Price	-10% $259	-5% $216	+0% $174	+5% $131	+10% $89
Rent	-10% $20	-5% $97	+0% $174	+5% $250	+10% $327
Rate	-1.0pp $249	-0.5pp $212	base $174	+0.5pp $135	+1.0pp $95

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	5d	13	0.03mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	17d	15	0.03mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	16d	3	0.16mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	5d	2	0.16mi
4880 51st St W Bradenton, FL	1.0–4.0	1.0–3.0	1019	$1,527	$1.50	5d	11	0.28mi
4550 47th St W Bradenton, FL	1.0–3.0	1.0–2.0	930	$1,800	$1.94	3d	27	0.29mi
4801 47th Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1016	$1,810	$1.78	3d	32	0.36mi
4112 Cape Vista Dr Bradenton, FL	3.0	2.0	1450	$3,495	$2.41	25d	1	0.41mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	23d	1	0.43mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	3d	1	0.43mi
4210 Ironwood Cir Unit 103J Bradenton, FL	1.0	1.0	750	$1,800	$2.40	25d	1	0.44mi
4460 Ironwood Cir Unit 501A Bradenton, FL	1.0	1.5	840	$2,595	$3.09	25d	1	0.44mi
4655 46th Street Ct W #103 Bradenton, FL	2.0	2.0	1141	$600	$0.53	5d	1	0.46mi
4572 Red Maple Rd #901 Bradenton, FL	2.0	2.0	1224	$1,600	$1.31	25d	1	0.48mi
4110 Ironwood Cir #104 Bradenton, FL	2.0	2.0	1152	$1,800	$1.56	25d	1	0.50mi
4240 Ironwood Cir #404 Bradenton, FL	2.0	2.0	1008	$2,495	$2.48	25d	1	0.52mi
4118 59th St W Bradenton, FL	2.0	1.0	756	$1,800	$2.38	17d	1	0.54mi
4457 45th Ave W #211 Bradenton, FL	2.0	2.0	912	$1,950	$2.14	17d	1	0.55mi
4040 Ironwood Cir Unit 404F Bradenton, FL	2.0	2.0	1008	$1,750	$1.74	13d	1	0.56mi
4040 Ironwood Cir Unit 406F Bradenton, FL	2.0	2.0	1008	$1,675	$1.66	17d	1	0.56mi
4449 46th Ave W Unit 4449 Bradenton, FL	2.0	1.0	1110	$3,200	$2.88	25d	1	0.56mi
4570 Pinebrook Cir #304 Bradenton, FL	2.0	2.0	1256	$3,100	$2.47	25d	1	0.61mi
4601 66th St W Bradenton, FL	3.0	1.0–2.0	917	$2,065	$2.25	3d	24	0.65mi
4116 62nd St W Bradenton, FL	2.0	2.0	840	$1,650	$1.96	5d	1	0.69mi
4460 Fairways Blvd #606 Bradenton, FL	2.0	2.0	1256	$2,000	$1.59	17d	1	0.70mi
283 Sherwood Dr Bradenton, FL	2.0	2.0	1304	$1,800	$1.38	25d	1	0.71mi
346 Springdale Dr Unit 346 Bradenton, FL	2.0	2.0	1304	$1,900	$1.46	25d	1	0.73mi
5907 36th Ave Cir W #5907 Bradenton, FL	2.0	2.0	937	$2,800	$2.99	25d	1	0.74mi
4112 66th Street Cir W Bradenton, FL	2.0	2.0	1100	$1,960	$1.78	21d	1	0.78mi
303 Springdale Dr #303 Bradenton, FL	2.0	2.0	1304	$1,999	$1.53	5d	1	0.78mi
4209 66th Street Cir W Bradenton, FL	2.0	2.0	1044	$2,900	$2.78	25d	1	0.80mi
4161 66th Street Cir W Bradenton, FL	2.0	2.0	1044	$1,800	$1.72	17d	1	0.80mi
586 Lakeside Dr Unit 586 Bradenton, FL	2.0	2.0	940	$3,200	$3.40	25d	1	0.86mi
3401 50th St W Bradenton, FL	3.0	2.0	1418	$2,699	$1.90	25d	1	0.87mi
452 Palm Tree Dr Unit 452 Bradenton, FL	2.0	2.0	1304	$1,595	$1.22	5d	1	0.88mi
4107 41st St W Bradenton, FL	3.0	2.0	1419	$3,700	$2.61	25d	1	0.88mi
4325 40th St W Bradenton, FL	1.0–2.0	1.0–2.0	775	$1,675	$2.16	12d	9	0.88mi
108 Pinehurst Dr Bradenton, FL	2.0	2.0	1408	$2,500	$1.78	25d	1	0.92mi
655 Woodlawn Dr Unit 655 Bradenton, FL	2.0	2.0	1148	$1,600	$1.39	25d	1	0.94mi
6711 45th Ave W Unit A Bradenton, FL	2.0	2.0	1100	$1,700	$1.55	17d	1	0.94mi

HOA detail condo

• Monthly dues: $421 · $5,052/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-22
   days on market $149,900 Active 10 DOM
2. 2026-06-18
   days on market $149,900 Active 7 DOM
3. 2026-06-17
   days on market $149,900 Active 6 DOM
4. 2026-06-16
   days on market $149,900 Active 5 DOM
5. 2026-06-15
   days on market $149,900 Active 4 DOM
6. 2026-06-13
   days on market $149,900 Active 2 DOM
7. 2026-06-13
   remarks 693-char remark
8. 2026-06-13
   listed $149,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,088 · $91/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$156/yr (+$13/mo · 14.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,301
• − Mortgage interest: −$8,397
• − Property taxes: −$1,088
• − Insurance: −$750
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − HOA: −$5,052
• − Depreciation: −$4,361
• Taxable loss: −$75
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $2,102/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Bradenton

• Score: 81/100
• State rank: #101
• US rank: #1528

Category grades

Amenities F Commute A+ Cost of living A+ Crime D Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bradenton, FL
• County: Manatee County · 416,364 people
• City population: 227,091
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 17,682
• Household income: $64,244
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 895.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Black 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 7%
• Common ancestry: Hispanic 4% Romanian 3% Lithuanian 3%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 15% French/Haitian/Cajun 4% Other Indo-European 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.68%
• Current HPI: 246.9247
• Rent YoY: ▼ -6.08%
• Metro: North Port-Sarasota-Bradenton, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

1 event — show timeline

• 2026-06-11 Listed $149,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2025): $1,088 · -4.3% YoY. Source: county tax records.