4240 Ironwood Cir Unit 406AA · Bradenton, FL 34209

$145,000

2 bd · 2.0 ba · 1,088 sqft · Condo · 81 Days on market

Built 1982 $643/mo HOA · 30% 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 +14.2/30.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• DSCR +4.3/10.0
• 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

Highly Desirable 2 Bedroom/ 2 Bath End Unit in AA Building next to the Pinebrook Ironwood Clubhouse. This unit has an outstanding golf course view, is fully furnished (subject to tenant possessions which are listed in attachment), and is being sold "Turn-Key Furnished" subject to inspection. The Unit is in good condition and would be a nice second home in Florida or a year-round residence. Ironwood Clubhouse is only a short walk away and offers a heated swimming pool, exercise room, and a variety of social activities. It is only a six mile drive directly down Cortez Road to the beach. .

Key facts

• $643 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Unit is furnished; Buyer approval required for the community
• Financial info: Lease restrictions apply
• HOA & community: Has HOA/association; Monthly condo fee of $643 (total monthly fees $643); Total annual association fees $7,716; Association amenities include clubhouse, fitness center, pool, tennis courts, shuffleboard, recreation facilities, laundry, storage, maintenance and management, pest control, cable TV, internet, and vehicle restrictions; Association fees cover insurance, common area taxes, pool, sewer, water, trash, maintenance (grounds and structure), management, escrow reserves, fidelity bond and pest control; Association approval required; Senior community; pets not allowed; Community features include golf, clubhouse, pool, tennis courts, street lights and association-owned recreation

Exterior

• Parking: Assigned covered parking; Guest parking; Carport (1 space)
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; BB/HS internet available; Underground utilities; Fire hydrant access; Water connected; Sewer connected
• Home design: Residential condominium; One-level unit on the 4th floor; South-facing; Completed condition
• Construction: Concrete construction; Membrane roof; Slab foundation; Built as part of a multi-story building (6 stories)
• Exterior features: Covered, enclosed and screened rear porch/Florida room; Patio/porch lighting; Sliding doors; Exterior storage; Tennis courts on property; In-ground heated gunite pool with lighting; Pond view; Irrigation equipment; Paved asphalt roads; Located on golf course; Within city limits

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Parquet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Open floorplan; Living room/dining room combo; Split bedroom floorplan; Solid surface and stone counters; Walk-in closets; Blinds on windows; Building elevator
• Laundry & utility: Common area laundry room with corridor access

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $23 ($278/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 31% 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 $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

• It's been on market 81 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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 $102k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: 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 $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.46% ✓
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• GRM: 5.7

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: -20.6%
• Equity multiple: 0.32×
• Total profit: $-27,785
• Equity at exit: $21,620

10-year hold

• IRR: -32.7%
• Equity multiple: -0.10×
• Total profit: $-44,479
• Equity at exit: $12,537

Cash invested: $40,600 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,112 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$643
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $23

Break-even live

Break-even rent $2,082

Max offer price $145,000

Occupancy floor 94%

Sensitivity live

Price	-10% $123	-5% $73	+0% $23	+5% $-27	+10% $-77
Rent	-10% $-144	-5% $-60	+0% $23	+5% $107	+10% $190
Rate	-1.0pp $96	-0.5pp $60	base $23	+0.5pp $-14	+1.0pp $-53

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4240 Ironwood Cir #404 Bradenton, FL	2.0	2.0	1008	$2,495	$2.48	25d	1	0.03mi
4460 Ironwood Cir Unit 501A Bradenton, FL	1.0	1.5	840	$2,595	$3.09	25d	1	0.11mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	22d	1	0.12mi
4460 Ironwood Cir Unit 406 Bradenton, FL	1.0	1.0	750	$1,600	$2.13	3d	1	0.12mi
4570 Pinebrook Cir #304 Bradenton, FL	2.0	2.0	1256	$3,100	$2.47	25d	1	0.14mi
4460 Fairways Blvd #606 Bradenton, FL	2.0	2.0	1256	$2,000	$1.59	17d	1	0.15mi
4040 Ironwood Cir Unit 406F Bradenton, FL	2.0	2.0	1008	$1,675	$1.66	17d	1	0.15mi
4040 Ironwood Cir Unit 404F Bradenton, FL	2.0	2.0	1008	$1,750	$1.74	13d	1	0.15mi
4210 Ironwood Cir Unit 103J Bradenton, FL	1.0	1.0	750	$1,800	$2.40	25d	1	0.18mi
4110 Ironwood Cir #104 Bradenton, FL	2.0	2.0	1152	$1,800	$1.56	25d	1	0.19mi
4457 45th Ave W #211 Bradenton, FL	2.0	2.0	912	$1,950	$2.14	17d	1	0.37mi
4550 47th St W Bradenton, FL	1.0–3.0	1.0–2.0	930	$1,800	$1.94	3d	27	0.39mi
4107 41st St W Bradenton, FL	3.0	2.0	1419	$3,700	$2.61	25d	1	0.40mi
4655 46th Street Ct W #103 Bradenton, FL	2.0	2.0	1141	$600	$0.53	4d	1	0.42mi
4112 Cape Vista Dr Bradenton, FL	3.0	2.0	1450	$3,495	$2.41	25d	1	0.45mi
3401 50th St W Bradenton, FL	3.0	2.0	1418	$2,699	$1.90	25d	1	0.45mi
4325 40th St W Bradenton, FL	1.0–2.0	1.0–2.0	775	$1,675	$2.16	11d	9	0.46mi
4801 47th Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1016	$1,810	$1.78	3d	32	0.53mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	17d	15	0.58mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	4d	13	0.58mi
4449 46th Ave W Unit 4449 Bradenton, FL	2.0	1.0	1110	$3,200	$2.88	25d	1	0.60mi
108 Pinehurst Dr Bradenton, FL	2.0	2.0	1408	$2,500	$1.78	25d	1	0.61mi
283 Sherwood Dr Bradenton, FL	2.0	2.0	1304	$1,800	$1.38	25d	1	0.63mi
3909 45th Ter W #106 Bradenton, FL	2.0	2.5	1429	$1,800	$1.26	17d	1	0.66mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	4d	2	0.67mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	15d	3	0.67mi
303 Springdale Dr #303 Bradenton, FL	2.0	2.0	1304	$1,999	$1.53	4d	1	0.69mi
346 Springdale Dr Unit 346 Bradenton, FL	2.0	2.0	1304	$1,900	$1.46	25d	1	0.70mi
4118 59th St W Bradenton, FL	2.0	1.0	756	$1,800	$2.38	17d	1	0.72mi
3715 45th Ter W Bradenton, FL	2.0	2.5	1429	$1,695	$1.19	25d	1	0.77mi
3825 45th Ter W #104 Bradenton, FL	2.0	2.5	1429	$1,550	$1.08	25d	1	0.77mi
5907 36th Ave Cir W #5907 Bradenton, FL	2.0	2.0	937	$2,800	$2.99	25d	1	0.79mi
3603 45th Ter W #101 Bradenton, FL	3.0	2.5	1200	$1,800	$1.50	4d	1	0.82mi
4880 51st St W Bradenton, FL	1.0–4.0	1.0–3.0	1019	$1,527	$1.50	4d	11	0.82mi
452 Palm Tree Dr Unit 452 Bradenton, FL	2.0	2.0	1304	$1,595	$1.22	4d	1	0.88mi
4116 62nd St W Bradenton, FL	2.0	2.0	840	$1,650	$1.96	4d	1	0.92mi
3806 Southern Pkwy W Bradenton, FL	3.0	2.0	1296	$2,176	$1.68	13d	1	0.92mi
4572 Red Maple Rd #901 Bradenton, FL	2.0	2.0	1224	$1,600	$1.31	25d	1	0.93mi
5909 30th Ave W Bradenton, FL	1.0–2.0	1.0–2.0	788	$1,670	$2.12	3d	6	0.93mi
655 Woodlawn Dr Unit 655 Bradenton, FL	2.0	2.0	1148	$1,600	$1.39	25d	1	0.95mi

HOA detail condo

• Monthly dues: $643 · $7,716/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $145,000 Active 81 DOM
2. 2026-06-17
   days on market $145,000 Active 80 DOM
3. 2026-06-16
   days on market $145,000 Active 79 DOM
4. 2026-06-15
   days on market $145,000 Active 78 DOM
5. 2026-06-13
   days on market $145,000 Active 76 DOM
6. 2026-06-13
   days on market $145,000 Active 75 DOM
7. 2026-06-10
   days on market $145,000 Active 73 DOM
8. 2026-06-09
   days on market $145,000 Active 72 DOM
9. 2026-06-08
   days on market $145,000 Active 71 DOM
10. 2026-06-08
    days on market $145,000 Active 70 DOM
11. 2026-06-03
    days on market $145,000 Active 66 DOM
12. 2026-06-02
    days on market $145,000 Active 65 DOM
13. 2026-06-01
    days on market $145,000 Active 64 DOM
14. 2026-05-31
    days on market $145,000 Active 63 DOM
15. 2026-03-29
    listed $145,000 Active
16. 2014-04-14
    soldstatus $102,000 Sold 604-char remark

    Show marketing remark (604 chars)

    Highly Desirable 2 Bedroom/ 2 Bath End Unit in AA Building next to the Pinebrook Ironwood Clubhouse. This unit has an outstanding golf course view, is fully furnished (subject to tenant possessions which are listed in attachment), and is being sold "Turn-Key Furnished" subject to inspection. The Unit is in good condition and would be a nice second home in Florida or a year-round residence. Ironwood Clubhouse is only a short walk away and offers a heated swimming pool, exercise room, and a variety of social activities. It is only a six mile drive directly down Cortez Road to the beach. .

17. 2013-12-08
    listed $105,000 604-char remark

    Show marketing remark (604 chars)

    Highly Desirable 2 Bedroom/ 2 Bath End Unit in AA Building next to the Pinebrook Ironwood Clubhouse. This unit has an outstanding golf course view, is fully furnished (subject to tenant possessions which are listed in attachment), and is being sold "Turn-Key Furnished" subject to inspection. The Unit is in good condition and would be a nice second home in Florida or a year-round residence. Ironwood Clubhouse is only a short walk away and offers a heated swimming pool, exercise room, and a variety of social activities. It is only a six mile drive directly down Cortez Road to the beach. .

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

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 · 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: $25,340
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$2,027
• − Management: −$2,027
• − HOA: −$7,716
• − Depreciation: −$4,218
• Taxable loss: −$1,671
• Est. tax savings @ 24.0%: +$401
• After-tax cash flow: $679/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): 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

+38.1% since first listed

3 events — show timeline

• 2026-03-29 Listed $145,000 Stellar MLS as Distributed by MLS Grid
• 2014-04-14 Sold (MLS) $102,000 Stellar MLS as Distributed by MLS Grid
• 2013-12-08 Listed $105,000 Stellar MLS as Distributed by MLS Grid