3810 41st St W #3810 · Bradenton, FL 34205

$155,000

2 bd · 2.0 ba · 1,015 sqft · Condo public records · 112 Days on market

Built 1978 $439/mo HOA · 22% of rent

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Why this score? — see what drove the D+ 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 +15.9/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great remodeled 2 Bedroom, 2 Bath, Villa, with the Best West Bradenton location, close to Beaches and Shopping. Short walk to Pool and Clubhouse in this 55+ active community. Updated kitchen with new cabinets and appliances. Newer tile floors in living, dining and kitchen. Full size new Washer and Dryer.

Key facts

• Hvac replacement
• Community pool
• Low condo fees

Tags

• COMMUNITY POOL
• NEW ROOF
• WATER HEATER REPLACEMENT
• HVAC REPLACEMENT
• LOW CONDO FEES

Property features AI

Finance

• Other: Partially furnished; Association names: Dom Spinelli; Cortez Villas Property Association; Directions available for property access
• Financial info: Total annual HOA/condo fees $5,268; Lease restrictions apply
• HOA & community: Monthly condo fee of $439; HOA includes cable TV, pool, insurance, internet, building and grounds maintenance, sewer, trash, water, escrow reserves and recreational facilities; Association approval required; Community features include pool, community mailbox, deed restrictions and sidewalks; Senior community; Pets allowed with restrictions (cats and dogs OK, breed restrictions, number limit, max pet weight 15 lbs)

Exterior

• Parking: Paved access
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; High-speed internet available; Phone available; Water connected; Sewer connected
• Home design: Condominium; One story; East facing; Unit on first floor
• Construction: Block and cement siding construction; Membrane and shingle roof; Slab foundation; Built as part of Cortz Villas
• Exterior features: Patio; Porch; Screened porch; Sidewalks; Landscaped with mature landscaping and trees; Level lot; Street dead-end; Paved surfaces

Interior

• Kitchen: Range; Microwave; Refrigerator; Solid surface counters; Solid wood cabinets; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Coffered ceilings; Eat-in kitchen; Solid surface counters; Solid wood cabinets; Thermostat; Window treatments; Sliding doors
• Laundry & utility: Washer; Dryer; Laundry inside in a laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $73 ($874/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (-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).
• At $2,029/mo this rent would consume 46% of the median local household income ($53k/yr) (locally 1736% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 112 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $155k implies a 158% gain — meaningful room to come down on a strong offer.

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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.31% ✓
• Cap rate: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• 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: -17.7%
• Equity multiple: 0.40×
• Total profit: $-26,111
• Equity at exit: $23,111

10-year hold

• IRR: -21.2%
• Equity multiple: 0.11×
• Total profit: $-38,472
• Equity at exit: $13,402

Cash invested: $43,400 (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 34205

• Rents YoY: -2.4%
• Active inventory: 319
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,029 high
• Mortgage (P&I): −$813
• Tax from tax record: −$214 /mo · $2,563/yr
• Insurance: −$65
• HOA: −$439
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $73

Break-even live

Break-even rent $1,937

Max offer price $155,000

Occupancy floor 91%

Sensitivity live

Price	-10% $161	-5% $117	+0% $73	+5% $29	+10% $-15
Rent	-10% $-87	-5% $-7	+0% $73	+5% $153	+10% $233
Rate	-1.0pp $151	-0.5pp $112	base $73	+0.5pp $33	+1.0pp $-8

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4107 41st St W Bradenton, FL	3.0	2.0	1419	$3,700	$2.61	25d	1	0.20mi
4325 40th St W Bradenton, FL	1.0–2.0	1.0–2.0	775	$1,675	$2.16	11d	9	0.29mi
4460 Fairways Blvd #606 Bradenton, FL	2.0	2.0	1256	$2,000	$1.59	17d	1	0.32mi
4570 Pinebrook Cir #304 Bradenton, FL	2.0	2.0	1256	$3,100	$2.47	25d	1	0.40mi
3806 Southern Pkwy W Bradenton, FL	3.0	2.0	1296	$2,176	$1.68	13d	1	0.48mi
3512 32nd St W Bradenton, FL	2.0	1.0	1200	$2,100	$1.75	4d	1	0.49mi
108 Pinehurst Dr Bradenton, FL	2.0	2.0	1408	$2,500	$1.78	25d	1	0.50mi
4240 Ironwood Cir #404 Bradenton, FL	2.0	2.0	1008	$2,495	$2.48	25d	1	0.51mi
3909 45th Ter W #106 Bradenton, FL	2.0	2.5	1429	$1,800	$1.26	17d	1	0.54mi
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
4460 Ironwood Cir Unit 501A Bradenton, FL	1.0	1.5	840	$2,595	$3.09	25d	1	0.58mi
3603 Oxford Dr W Bradenton, FL	2.0	2.0	1400	$2,400	$1.71	25d	1	0.59mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	22d	1	0.59mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	3d	1	0.59mi
4457 45th Ave W #211 Bradenton, FL	2.0	2.0	912	$1,950	$2.14	17d	1	0.60mi
3715 45th Ter W Bradenton, FL	2.0	2.5	1429	$1,695	$1.19	25d	1	0.62mi
3825 45th Ter W #104 Bradenton, FL	2.0	2.5	1429	$1,550	$1.08	25d	1	0.62mi
3401 50th St W Bradenton, FL	3.0	2.0	1418	$2,699	$1.90	25d	1	0.63mi
4110 Ironwood Cir #104 Bradenton, FL	2.0	2.0	1152	$1,800	$1.56	25d	1	0.63mi
4210 Ironwood Cir Unit 103J Bradenton, FL	1.0	1.0	750	$1,800	$2.40	25d	1	0.65mi
3603 45th Ter W #101 Bradenton, FL	3.0	2.5	1200	$1,800	$1.50	4d	1	0.67mi
4655 46th Street Ct W #103 Bradenton, FL	2.0	2.0	1141	$600	$0.53	4d	1	0.71mi
283 Sherwood Dr Bradenton, FL	2.0	2.0	1304	$1,800	$1.38	25d	1	0.75mi
303 Springdale Dr #303 Bradenton, FL	2.0	2.0	1304	$1,999	$1.53	4d	1	0.77mi
4550 47th St W Bradenton, FL	1.0–3.0	1.0–2.0	930	$1,800	$1.94	3d	27	0.78mi
4449 46th Ave W Unit 4449 Bradenton, FL	2.0	1.0	1110	$3,200	$2.88	25d	1	0.82mi
346 Springdale Dr Unit 346 Bradenton, FL	2.0	2.0	1304	$1,900	$1.46	25d	1	0.83mi
4801 47th Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1016	$1,810	$1.78	3d	32	0.86mi
4112 Cape Vista Dr Bradenton, FL	3.0	2.0	1450	$3,495	$2.41	25d	1	0.90mi
452 Palm Tree Dr Unit 452 Bradenton, FL	2.0	2.0	1304	$1,595	$1.22	4d	1	0.96mi
2901 26th St W #807 Bradenton, FL	2.0	2.0	940	$1,525	$1.62	4d	1	1.02mi
206 Lakewood Dr Unit 206 Bradenton, FL	2.0	2.0	940	$2,700	$2.87	25d	1	1.02mi
655 Woodlawn Dr Unit 655 Bradenton, FL	2.0	2.0	1148	$1,600	$1.39	25d	1	1.03mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	4d	13	1.04mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	17d	15	1.04mi
4109 Lake Bayshore Dr Bradenton, FL	1.0	1.0	768	$1,250	$1.63	25d	1	1.05mi
3737 Lake Bayshore Dr Unit 213 Bradenton, FL	2.0	1.0	912	$1,150	$1.26	22d	1	1.06mi
3635 Lake Bayshore Dr Unit J410 Bradenton, FL	2.0	2.0	1144	$1,700	$1.49	25d	1	1.06mi
4121 Heron Way #108 Bradenton, FL	2.0	2.0	1144	$1,340	$1.17	25d	1	1.06mi

HOA detail condo

• Monthly dues: $439 · $5,268/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-14
   status Pending
2. 2026-04-17
   price $155,000
3. 2026-03-05
   price $159,900
4. 2026-02-18
   price $164,900
5. 2026-01-22
   listed $169,500 Active
6. 2009-11-03
   soldstatus $60,000
7. 2009-10-30
   soldstatus $60,000 305-char remark

   Show marketing remark (305 chars)

   Great remodeled 2 Bedroom, 2 Bath, Villa, with the Best West Bradenton location, close to Beaches and Shopping. Short walk to Pool and Clubhouse in this 55+ active community. Updated kitchen with new cabinets and appliances. Newer tile floors in living, dining and kitchen. Full size new Washer and Dryer.

8. 2009-09-29
   listed $74,900 305-char remark

   Show marketing remark (305 chars)

   Great remodeled 2 Bedroom, 2 Bath, Villa, with the Best West Bradenton location, close to Beaches and Shopping. Short walk to Pool and Clubhouse in this 55+ active community. Updated kitchen with new cabinets and appliances. Newer tile floors in living, dining and kitchen. Full size new Washer and Dryer.

9. 1998-02-10
   soldstatus $55,500
10. 1995-05-26
    soldstatus $51,900
11. 1990-08-01
    soldstatus $48,000

ⓘ 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: $2,563 · $214/mo
• Projected year-2 tax: $2,563 · $214/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 31 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: $24,347
• − Mortgage interest: −$8,682
• − Property taxes: −$2,563
• − Insurance: −$775
• − Repairs & maintenance: −$1,948
• − Management: −$1,948
• − HOA: −$5,268
• − Depreciation: −$4,509
• Taxable loss: −$1,346
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $1,197/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): 31,946
• Household income: $52,525
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 1736.0

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Black 10% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 1%
• Common ancestry: Hispanic 2% Romanian 2% Lithuanian 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 78% English-only · Spanish 14% French/Haitian/Cajun 2% German/W. Germanic 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: ▼ -310.18%
• Current HPI: 369.8239
• Rent YoY: ▼ -2.43%
• 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

+222.9% since first listed

11 events — show timeline

• 2026-05-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-05 Price Changed $159,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $164,900 Stellar MLS as Distributed by MLS Grid
• 2026-01-22 Listed $169,500 Stellar MLS as Distributed by MLS Grid
• 2009-11-03 Sold (Public Records) $60,000 Public Records
• 2009-10-30 Sold (MLS) $60,000 Stellar MLS as Distributed by MLS Grid
• 2009-09-29 Listed $74,900 Stellar MLS as Distributed by MLS Grid
• 1998-02-10 Sold (Public Records) $55,500 Public Records
• 1995-05-26 Sold (Public Records) $51,900 Public Records
• 1990-08-01 Sold (Public Records) $48,000 Public Records

Property tax history

+9.9%/yr

Latest (2025): $2,563 · -0.2% YoY. Source: county tax records.