1416 19th Ave W

Bradenton, FL 34205

$334,595F

2 bd · 2.0 ba · 1,147 sqft · Built 1947 · MultiFamily · Active · 267 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,617/mo
• Mortgage (P&I): −$1,755
• Tax + insurance: −$403
• HOA: −$0
• Vac / Maint / Mgmt: −$550
• Net cashflow: $-90/mo
• Annual: $-1,077/yr
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• 1% rule: 0.78%
• Cash to close: $93,687

Investor read

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $335k.
• At list price, monthly cash flow is $-90 ($-1k/yr) — negative. Per door: $-45/mo.
• To cash-flow at today's rent, offer at most $319k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (21.8% below list).
• It's been on market 267 days — a 12% lower offer ($294k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $262k (21.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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: Ballard Elementary School (math 47% / reading 32%, grade F, #1,513 of 2,144 statewide, top 73%, 400 students, 82% FRL); Southeast High School (math 25% / reading 34%, grade F, #447 of 667 statewide, top 68%, 1,716 students, 66% FRL) — zoned schools average 74% FRL vs 51% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 52% district-wide (-18 pts) — the specific schools serving this property underperform the Manatee average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-2.4%/yr); 319 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $54k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $144k; list at $335k implies a 132% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 267 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?