7500 40th Ave W #203 · Bradenton, FL 34209

$120,000

2 bd · 2.0 ba · 1,146 sqft · Condo public records · 45 Days on market

Built 1981 $720/mo HOA · 32% 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 +20.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2nd floor corner end unit is light and breezy with all the amenities one would demand in maintenance free living. The building has an elevator or you can walk up 1 flight of stairs. Enjoy the tennis and swimming pool rec/fitness center. Heron Harbour is conveniently located near shopping, restaurants, medical facilities and just 15 minutes to the beach on Anna Maria Island. Great for income producing property or a second home. Large screened in lanai with storage. Master has walk in closet. Just painted throughout, with new carpet and ceramic tile. Call today to schedule your private showing.

Key facts

• Spacious pantry
• White cabinets
• Walk-in closet

Tags

• LARGE SCREENED LANAI
• WHITE CABINETS
• BLACK COUNTERTOPS
• SPACIOUS PANTRY
• IN-UNIT WASHER AND DRYER
• WALK-IN CLOSET

Property features AI

Finance

• Financial info: Total monthly fees $720, total annual fees $8,640; Lease restrictions apply
• HOA & community: Monthly condo/HOA fee of $720; Association name: Rescom - Merie Mangan; Association approval required for buyers; Association fee covers cable TV, common area taxes, pool, escrow reserves, fidelity bond, insurance, internet, structure and grounds maintenance, management, recreational facilities, sewer, trash and water; Community amenities include clubhouse, pool and tennis courts; Deed restrictions apply; Buyer approval required; Pets not allowed

Exterior

• Parking: Guest parking available (per directions)
• Utilities: Public sewer; Electricity available; Public utilities; No water source specified
• Home design: Condominium; One story; Unit on 2nd floor; Facing west
• Construction: Brick construction; Membrane roof; Slab foundation
• Exterior features: Screened patio/porch; Balcony; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Central air
• Interior features: Ceiling fans; Living room / dining room combo; Split bedroom floorplan; Walk-in closet(s); Storage rooms; Building has elevator
• Laundry & utility: Washer and dryer in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Market conditions: Rents soft (-0.3%/yr); 510 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 33% of the median local income ($82k/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 $830 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

• It's been on market 45 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.89% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.22%
• DSCR: 1.23
• GRM: 4.4

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: -14.2%
• Equity multiple: 0.52×
• Total profit: $-16,258
• Equity at exit: $17,892

10-year hold

• IRR: -19.7%
• Equity multiple: 0.23×
• Total profit: $-25,713
• Equity at exit: $10,375

Cash invested: $33,600 (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 34209

• Rents YoY: -0.3%
• Active inventory: 510
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,271 high
• Mortgage (P&I): −$629
• Tax from tax record: −$249 /mo · $2,984/yr
• Insurance: −$50
• HOA: −$720
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $146

Break-even live

Break-even rent $2,086

Max offer price $120,000

Occupancy floor 89%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4005 78th St W Bradenton, FL	3.0	2.0	1000	$1,895	$1.90	3d	1	0.09mi
7333 Skybird Rd Bradenton, FL	3.0	2.0	1277	$3,500	$2.74	23d	1	0.19mi
4196 Overture Cir Unit 4196 Bradenton, FL	3.0	2.0	1277	$2,300	$1.80	3d	1	0.23mi
4122 Overture Cir #533 Bradenton, FL	3.0	2.0	1381	$2,900	$2.10	23d	1	0.25mi
7202 Hamilton Rd Unit 7202 Bradenton, FL	3.0	2.0	1277	$2,250	$1.76	16d	1	0.30mi
4005 Overture Cir Unit 4005 Bradenton, FL	3.0	2.0	1381	$2,700	$1.96	23d	1	0.30mi
4037 Overture Cir Unit 4037 Bradenton, FL	3.0	2.0	1381	$2,195	$1.59	23d	1	0.30mi
4063 Overture Cir Bradenton, FL	3.0	2.0	1277	$2,400	$1.88	23d	1	0.32mi
4325 80th St W Bradenton, FL	3.0	1.5	1000	$2,200	$2.20	23d	1	0.34mi
4501 71st St W Bradenton, FL	1.0–2.0	1.0–2.0	850	$1,680	$1.98	2d	28	0.53mi
6711 45th Ave W Unit A Bradenton, FL	2.0	2.0	1100	$1,700	$1.55	16d	1	0.63mi
6709 35th Ave W Unit 1346494P Bradenton, FL	3.0	2.0	1227	$4,527	$3.69	16d	1	0.65mi
2727 75th St W Bradenton, FL	1.0–2.0	1.5	835	$1,700	$2.04	3d	4	0.66mi
2724 72nd St W Unit 2010 Bradenton, FL	2.0	2.0	942	$1,950	$2.07	3d	1	0.69mi
4161 66th Street Cir W Bradenton, FL	2.0	2.0	1044	$1,800	$1.72	16d	1	0.72mi
4209 66th Street Cir W Bradenton, FL	2.0	2.0	1044	$2,900	$2.78	23d	1	0.72mi
4112 66th Street Cir W Bradenton, FL	2.0	2.0	1100	$1,960	$1.78	20d	1	0.75mi
2914 64th St W Bradenton, FL	2.0	2.0	1135	$2,025	$1.78	23d	1	0.85mi
4116 62nd St W Bradenton, FL	2.0	2.0	840	$1,650	$1.96	3d	1	0.87mi
4512 86th Street Ct W Unit A Bradenton, FL	2.0	1.0	755	$1,500	$1.99	23d	1	0.88mi
4601 66th St W Bradenton, FL	3.0	1.0–2.0	917	$2,065	$2.25	2d	24	0.92mi
2926 63rd St W Bradenton, FL	2.0	2.0	946	$2,100	$2.22	3d	1	0.93mi
2107 Palma Sola Blvd #8 Bradenton, FL	2.0	2.0	1056	$1,850	$1.75	16d	1	0.98mi
5907 36th Ave Cir W #5907 Bradenton, FL	2.0	2.0	937	$2,800	$2.99	23d	1	1.02mi
4118 59th St W Bradenton, FL	2.0	1.0	756	$1,800	$2.38	16d	1	1.07mi
4572 Red Maple Rd #901 Bradenton, FL	2.0	2.0	1224	$1,600	$1.31	23d	1	1.08mi
6914 20th Ave W Bradenton, FL	2.0	2.0	1383	$2,795	$2.02	16d	1	1.10mi
5909 30th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	788	$1,670	$2.12	2d	6	1.13mi
6304 Pointe West Blvd Unit A309 Bradenton, FL	2.0	2.0	1042	$1,795	$1.72	10d	1	1.19mi
5933 28th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	945	$2,013	$2.13	1d	6	1.20mi
6415 21st Ave W Bradenton, FL	1.0–2.0	1.0–2.0	1150	$1,896	$1.65	3d	5	1.22mi
4880 51st St W Bradenton, FL	1.0–4.0	1.0–3.0	1019	$1,527	$1.50	3d	11	1.34mi
4112 Cape Vista Dr Bradenton, FL	3.0	2.0	1450	$3,495	$2.41	23d	1	1.34mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	14d	3	1.37mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	3d	2	1.37mi
4813 Independence Dr Bradenton, FL	2.0	2.0	1147	$1,695	$1.48	23d	1	1.46mi
9819 Hernando Ct Unit 29-A Bradenton, FL	2.0	2.0	1078	$2,500	$2.32	23d	1	1.47mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	16d	15	1.49mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	3d	13	1.49mi

HOA detail condo

• Monthly dues: $720 · $8,640/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $120,000 Active 45 DOM
2. 2026-06-17
   days on market $120,000 Active 44 DOM
3. 2026-06-16
   days on market $120,000 Active 43 DOM
4. 2026-06-15
   days on market $120,000 Active 42 DOM
5. 2026-06-13
   days on market $120,000 Active 40 DOM
6. 2026-06-13
   days on market $120,000 Active 39 DOM
7. 2026-06-10
   days on market $120,000 Active 37 DOM
8. 2026-06-09
   days on market $120,000 Active 36 DOM
9. 2026-06-08
   days on market $120,000 Active 35 DOM
10. 2026-06-08
    pricedays on market $120,000 Active 34 DOM
11. 2026-06-03
    days on market $125,000 Active 30 DOM
12. 2026-06-02
    days on market $125,000 Active 29 DOM
13. 2026-06-01
    days on market $125,000 Active 28 DOM
14. 2026-05-31
    days on market $125,000 Active 27 DOM
15. 2026-05-04
    listed $125,000 Active
16. 2018-05-08
    soldstatus $121,000
17. 2018-05-04
    soldstatus $121,000 Sold 604-char remark

    Show marketing remark (604 chars)

    This 2nd floor corner end unit is light and breezy with all the amenities one would demand in maintenance free living. The building has an elevator or you can walk up 1 flight of stairs. Enjoy the tennis and swimming pool rec/fitness center. Heron Harbour is conveniently located near shopping, restaurants, medical facilities and just 15 minutes to the beach on Anna Maria Island. Great for income producing property or a second home. Large screened in lanai with storage. Master has walk in closet. Just painted throughout, with new carpet and ceramic tile. Call today to schedule your private showing.

18. 2018-04-11
    status Pending 604-char remark

    Show marketing remark (604 chars)

    This 2nd floor corner end unit is light and breezy with all the amenities one would demand in maintenance free living. The building has an elevator or you can walk up 1 flight of stairs. Enjoy the tennis and swimming pool rec/fitness center. Heron Harbour is conveniently located near shopping, restaurants, medical facilities and just 15 minutes to the beach on Anna Maria Island. Great for income producing property or a second home. Large screened in lanai with storage. Master has walk in closet. Just painted throughout, with new carpet and ceramic tile. Call today to schedule your private showing.

19. 2018-03-24
    status Pending 604-char remark

    Show marketing remark (604 chars)

    This 2nd floor corner end unit is light and breezy with all the amenities one would demand in maintenance free living. The building has an elevator or you can walk up 1 flight of stairs. Enjoy the tennis and swimming pool rec/fitness center. Heron Harbour is conveniently located near shopping, restaurants, medical facilities and just 15 minutes to the beach on Anna Maria Island. Great for income producing property or a second home. Large screened in lanai with storage. Master has walk in closet. Just painted throughout, with new carpet and ceramic tile. Call today to schedule your private showing.

20. 2018-03-22
    status Pending 604-char remark

    Show marketing remark (604 chars)

    This 2nd floor corner end unit is light and breezy with all the amenities one would demand in maintenance free living. The building has an elevator or you can walk up 1 flight of stairs. Enjoy the tennis and swimming pool rec/fitness center. Heron Harbour is conveniently located near shopping, restaurants, medical facilities and just 15 minutes to the beach on Anna Maria Island. Great for income producing property or a second home. Large screened in lanai with storage. Master has walk in closet. Just painted throughout, with new carpet and ceramic tile. Call today to schedule your private showing.

21. 2018-03-09
    status Pending 604-char remark

    Show marketing remark (604 chars)

    This 2nd floor corner end unit is light and breezy with all the amenities one would demand in maintenance free living. The building has an elevator or you can walk up 1 flight of stairs. Enjoy the tennis and swimming pool rec/fitness center. Heron Harbour is conveniently located near shopping, restaurants, medical facilities and just 15 minutes to the beach on Anna Maria Island. Great for income producing property or a second home. Large screened in lanai with storage. Master has walk in closet. Just painted throughout, with new carpet and ceramic tile. Call today to schedule your private showing.

22. 2017-12-21
    listed $130,000 Active 604-char remark

    Show marketing remark (604 chars)

    This 2nd floor corner end unit is light and breezy with all the amenities one would demand in maintenance free living. The building has an elevator or you can walk up 1 flight of stairs. Enjoy the tennis and swimming pool rec/fitness center. Heron Harbour is conveniently located near shopping, restaurants, medical facilities and just 15 minutes to the beach on Anna Maria Island. Great for income producing property or a second home. Large screened in lanai with storage. Master has walk in closet. Just painted throughout, with new carpet and ceramic tile. Call today to schedule your private showing.

23. 2011-07-21
    listed $110,000
24. 2007-07-11
    historical
25. 2007-05-31
    historical
26. 2007-02-07
    listed $189,900
27. 2007-01-25
    listed $184,900
28. 2006-09-27
    listed $199,900
29. 2006-07-21
    listed $199,900
30. 2006-01-24
    listed $199,900
31. 1999-01-25
    soldstatus $61,000
32. 1990-04-26
    soldstatus $43,900
33. 1981-06-01
    soldstatus $69,150

ⓘ 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: $2,984 · $249/mo
• Projected year-2 tax: $2,984 · $249/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 29 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: $27,251
• − Mortgage interest: −$6,722
• − Property taxes: −$2,984
• − Insurance: −$600
• − Repairs & maintenance: −$2,180
• − Management: −$2,180
• − HOA: −$8,640
• − Depreciation: −$3,491
• Taxable income: $454
• Est. tax owed @ 24.0%: −$109
• After-tax cash flow: $1,644/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

• County: Manatee County · 416,364 people
• City population: 227,091
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 33,224
• Household income: $81,728
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 1126.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 11% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 3%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 90% English-only · Spanish 6% Russian/Polish/Slavic 1% 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: ▼ -360.34%
• Current HPI: 320.0061
• Rent YoY: ▼ -0.30%
• 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

+80.8% since first listed

19 events — show timeline

• 2026-05-04 Listed $125,000 Stellar MLS as Distributed by MLS Grid
• 2018-05-08 Sold (Public Records) $121,000 Public Records
• 2018-05-04 Sold (MLS) $121,000 Stellar MLS as Distributed by MLS Grid
• 2018-04-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-24 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-22 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-03-09 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-12-21 Listed $130,000 Stellar MLS as Distributed by MLS Grid
• 2011-07-21 Listed $110,000 Stellar MLS as Distributed by MLS Grid
• 2007-07-11 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-05-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-02-07 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2007-01-25 Listed $184,900 Stellar MLS as Distributed by MLS Grid
• 2006-09-27 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2006-07-21 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 2006-01-24 Listed $199,900 Stellar MLS as Distributed by MLS Grid
• 1999-01-25 Sold (Public Records) $61,000 Public Records
• 1990-04-26 Sold (Public Records) $43,900 Public Records
• 1981-06-01 Sold (Public Records) $69,150 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,984 · -0.6% YoY. Source: county tax records.