4802 51st St W #1207 · Bradenton, FL 34210

$187,000

2 bd · 1.0 ba · 1,008 sqft · Condo public records · 22 Days on market

Built 2002 $441/mo HOA · 23% 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 +11.7/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Bradenton. Close to shopping, restaurants and beaches. This well maintained unit has beautiful brand new laminate floor and window blinds, fresh new paint. Inside laundry room and covered screened lanai. It has open floor plan with 2 Bedroom 1 Bath at the second floor. The Palms of Cortez is a resort style safe gated community. All ages and Pet friendly. It offers many amenities, large resort style pool, tennis courts, fitness center, playground, BBQ pavilions , car washing station, club house and on site management. All this for the low monthly maintenance fee. A must see home.

Key facts

• $441 HOA
• Community pool
• Built 2002

Property features AI

Finance

• Other: Partially furnished; Buyer approval required for association
• Financial info: Total annual fees: $5,292; Lease restrictions apply
• HOA & community: Monthly condo fee of $441; HOA managed by Castle Management Group; Association approval required; Association amenities: clubhouse, fitness center, gated entry, maintenance (structure & grounds), playground, pool, tennis courts; Association fees include common area taxes, pool, reserves, insurance, maintenance, management, pest control, recreational facilities; Community features: community mailbox, deed restrictions, reclaimed water irrigation, sidewalks; Pets allowed (cats and dogs) with limits

Exterior

• Parking: Open parking
• Security: Gated community
• Utilities: Private water; Private sewer; Cable connected; Electricity connected; Public utilities available; Sewer connected; Water connected; Underground utilities
• Home design: Condominium; One story building; Unit located on 2nd floor; Unit faces north
• Construction: Block construction; Shingle roof; Slab foundation; Building number 12
• Exterior features: Screened patio/porch; Balcony; Outdoor lighting; Outdoor grill; Playground; Sidewalk; Tennis courts; In-ground pool; Irrigation equipment

Interior

• Kitchen: Built-in oven; Cooktop; Dishwasher; Disposal; Freezer; Ice maker; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air
• Interior features: Cathedral ceilings; Ceiling fans; Crown molding; High ceilings; Living room/dining room combo; Thermostat; Walk-in closets; Window treatments; Shades
• Laundry & utility: Washer hookup; Dryer hookup; Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $187k.

Deal economics

• At list price, monthly cash flow is $-54 ($-644/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (5.1% below list).
• Meets the 1% rule at list price ($2k rent vs $187k).
• Recommended offer: $178k (5.1% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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 falling (-6.1%/yr); 549 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $6k 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 22 days — a 2% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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.
• Current owner paid $120k; list at $187k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% 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 $177,526 (5.1% below list)

Questions for the listing agent

1. 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?
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. 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?
7. 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.
8. 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.
9. 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: 1.02% ✓
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 8.2

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: -22.4%
• Equity multiple: 0.25×
• Total profit: $-39,106
• Equity at exit: $27,882

10-year hold

• IRR: -29.8%
• Equity multiple: -0.13×
• Total profit: $-59,238
• Equity at exit: $16,168

Cash invested: $52,360 (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: 549
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,904 high
• Mortgage (P&I): −$981
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$78
• HOA: −$441
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $-54

Break-even live

Break-even rent $1,972

Max offer price $177,526

Occupancy floor 98%

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4880 51st St W Bradenton, FL	1.0–4.0	1.0–3.0	1019	$1,527	$1.50	3d	11	0.15mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	3d	2	0.20mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	14d	3	0.20mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	3d	13	0.22mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	15d	15	0.22mi
4572 Red Maple Rd #901 Bradenton, FL	2.0	2.0	1224	$1,600	$1.31	23d	1	0.42mi
4550 47th St W Bradenton, FL	1.0–3.0	1.0–2.0	930	$1,800	$1.94	1d	27	0.47mi
4801 47th Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1016	$1,810	$1.78	1d	32	0.48mi
4601 66th St W Bradenton, FL	3.0	1.0–2.0	917	$2,065	$2.25	1d	24	0.58mi
4112 Cape Vista Dr Bradenton, FL	3.0	2.0	1450	$3,495	$2.41	23d	1	0.61mi
4655 46th Street Ct W #103 Bradenton, FL	2.0	2.0	1141	$600	$0.53	3d	1	0.62mi
4118 59th St W Bradenton, FL	2.0	1.0	756	$1,800	$2.38	15d	1	0.66mi
4449 46th Ave W Unit 4449 Bradenton, FL	2.0	1.0	1110	$3,200	$2.88	23d	1	0.67mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	1d	1	0.67mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	21d	1	0.67mi
4460 Ironwood Cir Unit 501A Bradenton, FL	1.0	1.5	840	$2,595	$3.09	23d	1	0.68mi
4210 Ironwood Cir Unit 103J Bradenton, FL	1.0	1.0	750	$1,800	$2.40	23d	1	0.68mi
4457 45th Ave W #211 Bradenton, FL	2.0	2.0	912	$1,950	$2.14	15d	1	0.73mi
4110 Ironwood Cir #104 Bradenton, FL	2.0	2.0	1152	$1,800	$1.56	23d	1	0.74mi
4116 62nd St W Bradenton, FL	2.0	2.0	840	$1,650	$1.96	3d	1	0.75mi
4240 Ironwood Cir #404 Bradenton, FL	2.0	2.0	1008	$2,495	$2.48	23d	1	0.76mi
4209 66th Street Cir W Bradenton, FL	2.0	2.0	1044	$2,900	$2.78	23d	1	0.79mi
4161 66th Street Cir W Bradenton, FL	2.0	2.0	1044	$1,800	$1.72	15d	1	0.79mi
4040 Ironwood Cir Unit 406F Bradenton, FL	2.0	2.0	1008	$1,675	$1.66	15d	1	0.80mi
4040 Ironwood Cir Unit 404F Bradenton, FL	2.0	2.0	1008	$1,750	$1.74	11d	1	0.80mi
4112 66th Street Cir W Bradenton, FL	2.0	2.0	1100	$1,960	$1.78	19d	1	0.81mi
346 Springdale Dr Unit 346 Bradenton, FL	2.0	2.0	1304	$1,900	$1.46	23d	1	0.83mi
283 Sherwood Dr Bradenton, FL	2.0	2.0	1304	$1,800	$1.38	23d	1	0.83mi
4570 Pinebrook Cir #304 Bradenton, FL	2.0	2.0	1256	$3,100	$2.47	23d	1	0.84mi
5907 36th Ave Cir W #5907 Bradenton, FL	2.0	2.0	937	$2,800	$2.99	23d	1	0.88mi
6711 45th Ave W Unit A Bradenton, FL	2.0	2.0	1100	$1,700	$1.55	15d	1	0.88mi
586 Lakeside Dr Unit 586 Bradenton, FL	2.0	2.0	940	$3,200	$3.40	23d	1	0.88mi
303 Springdale Dr #303 Bradenton, FL	2.0	2.0	1304	$1,999	$1.53	3d	1	0.89mi
4460 Fairways Blvd #606 Bradenton, FL	2.0	2.0	1256	$2,000	$1.59	15d	1	0.93mi
452 Palm Tree Dr Unit 452 Bradenton, FL	2.0	2.0	1304	$1,595	$1.22	3d	1	0.94mi
655 Woodlawn Dr Unit 655 Bradenton, FL	2.0	2.0	1148	$1,600	$1.39	23d	1	0.99mi
4501 71st St W Bradenton, FL	1.0–2.0	1.0–2.0	850	$1,680	$1.98	1d	28	1.02mi
4148 53rd Ave W Unit 0314 Bradenton, FL	2.0	2.0	1071	$1,967	$1.84	23d	1	1.05mi
4148 53rd Ave W Unit 1210 Bradenton, FL	2.0	2.0	1071	$1,932	$1.80	3d	1	1.05mi
4148 53rd Ave W Bradenton, FL	1.0–2.0	1.0–2.0	899	$2,412	$2.68	21d	10	1.05mi

HOA detail condo

• Monthly dues: $441 · $5,292/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-05-05
   listed $187,000 Active
2. 2026-05-02
   historical
3. 2026-04-08
   price $189,900
4. 2026-02-23
   price $199,900
5. 2026-02-12
   listed $204,900 Active
6. 2018-08-28
   soldstatus $120,000 Sold 609-char remark

   Show marketing remark (609 chars)

   Located in the heart of Bradenton. Close to shopping, restaurants and beaches. This well maintained unit has beautiful brand new laminate floor and window blinds, fresh new paint. Inside laundry room and covered screened lanai. It has open floor plan with 2 Bedroom 1 Bath at the second floor. The Palms of Cortez is a resort style safe gated community. All ages and Pet friendly. It offers many amenities, large resort style pool, tennis courts, fitness center, playground, BBQ pavilions , car washing station, club house and on site management. All this for the low monthly maintenance fee. A must see home.

7. 2018-08-28
   soldstatus $120,000

   Show marketing remark (609 chars)

   Located in the heart of Bradenton. Close to shopping, restaurants and beaches. This well maintained unit has beautiful brand new laminate floor and window blinds, fresh new paint. Inside laundry room and covered screened lanai. It has open floor plan with 2 Bedroom 1 Bath at the second floor. The Palms of Cortez is a resort style safe gated community. All ages and Pet friendly. It offers many amenities, large resort style pool, tennis courts, fitness center, playground, BBQ pavilions , car washing station, club house and on site management. All this for the low monthly maintenance fee. A must see home.

8. 2018-07-28
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Located in the heart of Bradenton. Close to shopping, restaurants and beaches. This well maintained unit has beautiful brand new laminate floor and window blinds, fresh new paint. Inside laundry room and covered screened lanai. It has open floor plan with 2 Bedroom 1 Bath at the second floor. The Palms of Cortez is a resort style safe gated community. All ages and Pet friendly. It offers many amenities, large resort style pool, tennis courts, fitness center, playground, BBQ pavilions , car washing station, club house and on site management. All this for the low monthly maintenance fee. A must see home.

9. 2018-07-18
   price $125,000 609-char remark

   Show marketing remark (609 chars)

   Located in the heart of Bradenton. Close to shopping, restaurants and beaches. This well maintained unit has beautiful brand new laminate floor and window blinds, fresh new paint. Inside laundry room and covered screened lanai. It has open floor plan with 2 Bedroom 1 Bath at the second floor. The Palms of Cortez is a resort style safe gated community. All ages and Pet friendly. It offers many amenities, large resort style pool, tennis courts, fitness center, playground, BBQ pavilions , car washing station, club house and on site management. All this for the low monthly maintenance fee. A must see home.

10. 2018-07-17
    listed $215,000 Active 609-char remark

    Show marketing remark (609 chars)

    Located in the heart of Bradenton. Close to shopping, restaurants and beaches. This well maintained unit has beautiful brand new laminate floor and window blinds, fresh new paint. Inside laundry room and covered screened lanai. It has open floor plan with 2 Bedroom 1 Bath at the second floor. The Palms of Cortez is a resort style safe gated community. All ages and Pet friendly. It offers many amenities, large resort style pool, tennis courts, fitness center, playground, BBQ pavilions , car washing station, club house and on site management. All this for the low monthly maintenance fee. A must see home.

11. 2013-06-20
    soldstatus $59,000
12. 2012-10-05
    historical
13. 2011-03-30
    listed $60,000

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $1,552 · $129/mo
• Expected delta: +$852/yr (+$71/mo · 121.6%)

ⓘ 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: $22,850
• − Mortgage interest: −$10,475
• − Property taxes: −$700
• − Insurance: −$935
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − HOA: −$5,292
• − Depreciation: −$5,440
• Taxable loss: −$3,648
• Est. tax savings @ 24.0%: +$876
• After-tax cash flow: $232/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: 33,840
• 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

+211.7% since first listed

13 events — show timeline

• 2026-05-05 Listed $187,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $189,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $199,900 Stellar MLS as Distributed by MLS Grid
• 2026-02-12 Listed $204,900 Stellar MLS as Distributed by MLS Grid
• 2018-08-28 Sold (Public Records) $120,000 Public Records
• 2018-08-28 Sold (MLS) $120,000 Stellar MLS as Distributed by MLS Grid
• 2018-07-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-07-18 Price Changed $125,000 Stellar MLS as Distributed by MLS Grid
• 2018-07-17 Listed $215,000 Stellar MLS as Distributed by MLS Grid
• 2013-06-20 Sold (Public Records) $59,000 Public Records
• 2012-10-05 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2011-03-30 Listed $60,000 Stellar MLS as Distributed by MLS Grid

Property tax history

-1.7%/yr

Latest (2022): $700 · +7.1% YoY. Source: county tax records.