4530 Pinebrook Cir #108 · Bradenton, FL 34209

$169,900

2 bd · 2.0 ba · 1,256 sqft · Condo public records · 62 Days on market

Built 1988 $658/mo HOA · 29% 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 +8.9/30.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Active with Contract. Great Opportunity to own a condo in the Greens at Pinebrook - partial views of the golf course! This unit is located on the first floor - a spacious 2 bedroom 2 bath with an open plan, split bedroom design, eating space in kitchen, inside laundry and a screened lanai. Nice central location near restaurants, shopping, and the beach. No history or seller's disclosures available. Easy to show!

Key facts

• Plantation shutters
• Updated kitchen
• Enclosed lanai

Tags

• POND AND GOLF COURSE VIEWS
• UPDATED KITCHEN
• TWO SPACIOUS WALK-IN PANTRIES
• ENCLOSED LANAI
• PLANTATION SHUTTERS
• PRIVATE ENSUITE BATHROOM

Property features AI

Finance

• Financial info: Total annual association fees approx. $7,896; Lease restrictions apply
• HOA & community: Monthly HOA fee of $658; Association: Dellcor Management / Dan Dell'Armi; Association approval required; HOA covers cable TV, pool, escrow reserves, insurance, internet, building and grounds maintenance, pest control, recreational facilities, sewer, trash and water; Community amenities: clubhouse, fitness center, golf, pool, spa/hot tub, tennis courts, community mailbox, sidewalks; Buyer approval required; Pets allowed (cats and dogs), max pet weight ~20 lbs

Exterior

• Parking: Open parking; Carport (1 space)
• Security: Fire sprinkler system; Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Water connected
• Home design: Residential condominium; One level; Faces south; Unit on first floor
• Construction: Block and stucco construction; Membrane roof; Slab foundation
• Exterior features: Covered, enclosed, screened rear porch; Outdoor grill; Lighting; Sidewalk; Sliding doors; Tennis court(s); Mature landscaping with trees; Pond view (10 ft frontage)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Elevator; Living room/dining room combo; Thermostat; Walk-in closet(s); Window treatments; Blinds; Fire sprinkler system; Smoke detector(s)
• Laundry & utility: Washer included; Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (14.4% below list).
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $145k (14.4% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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.
• Zoned schools: H. S. Moody Elementary School (math 39% / reading 24%, grade F, #1,841 of 2,144 statewide, top 86%, 606 students, 73% FRL); Manatee High School (math 32% / reading 47%, grade F, #304 of 667 statewide, top 47%, 1,983 students, 59% FRL) — zoned schools average 66% FRL vs 51% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 52% district-wide (-16 pts) — the specific schools serving this property underperform the Manatee average; the district grade overstates school quality for this exact location.
• 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 24d 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).

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 62 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $170k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% 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 $145,464 (14.4% 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. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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: 1.32% ✓
• Cap rate: 5.32%
• Cash-on-cash: -3.49%
• DSCR: 0.84
• GRM: 6.3

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: -27.7%
• Equity multiple: 0.11×
• Total profit: $-42,437
• Equity at exit: $25,333

10-year hold

• IRR: -62.7%
• Equity multiple: -0.51×
• Total profit: $-71,757
• Equity at exit: $14,690

Cash invested: $47,572 (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: 6.3×

Monthly cashflow live

• Estimated rent: $2,246 high
• Mortgage (P&I): −$891
• Tax from tax record: −$293 /mo · $3,519/yr
• Insurance: −$71
• HOA: −$658
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-138

Break-even live

Break-even rent $2,422

Max offer price $145,464

Occupancy floor —

Sensitivity live

Price	-10% $-42	-5% $-90	+0% $-138	+5% $-186	+10% $-235
Rent	-10% $-316	-5% $-227	+0% $-138	+5% $-50	+10% $39
Rate	-1.0pp $-53	-0.5pp $-95	base $-138	+0.5pp $-182	+1.0pp $-227

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4570 Pinebrook Cir #304 Bradenton, FL	2.0	2.0	1256	$3,100	$2.47	24d	1	0.05mi
4220 Pinebrook Cir #14 Bradenton, FL	2.0	2.0	1534	$2,300	$1.50	20d	1	0.10mi
4460 Fairways Blvd #606 Bradenton, FL	2.0	2.0	1256	$2,000	$1.59	16d	1	0.15mi
4240 Ironwood Cir #404 Bradenton, FL	2.0	2.0	1008	$2,495	$2.48	24d	1	0.22mi
4107 41st St W Bradenton, FL	3.0	2.0	1419	$3,700	$2.61	24d	1	0.23mi
4457 45th Ave W #211 Bradenton, FL	2.0	2.0	912	$1,950	$2.14	16d	1	0.26mi
4325 40th St W Bradenton, FL	1.0–2.0	1.0–2.0	775	$1,675	$2.16	11d	9	0.27mi
4040 Ironwood Cir Unit 404F Bradenton, FL	2.0	2.0	1008	$1,750	$1.74	12d	1	0.35mi
4040 Ironwood Cir Unit 406F Bradenton, FL	2.0	2.0	1008	$1,675	$1.66	16d	1	0.35mi
4655 46th Street Ct W #103 Bradenton, FL	2.0	2.0	1141	$600	$0.53	3d	1	0.36mi
4110 Ironwood Cir #104 Bradenton, FL	2.0	2.0	1152	$1,800	$1.56	24d	1	0.38mi
4550 47th St W Bradenton, FL	1.0–3.0	1.0–2.0	930	$1,800	$1.94	2d	27	0.41mi
108 Pinehurst Dr Bradenton, FL	2.0	2.0	1408	$2,500	$1.78	24d	1	0.41mi
3909 45th Ter W #106 Bradenton, FL	2.0	2.5	1429	$1,800	$1.26	16d	1	0.47mi
283 Sherwood Dr Bradenton, FL	2.0	2.0	1304	$1,800	$1.38	24d	1	0.49mi
4801 47th Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1016	$1,810	$1.78	2d	32	0.50mi
4449 46th Ave W Unit 4449 Bradenton, FL	2.0	1.0	1110	$3,200	$2.88	24d	1	0.51mi
303 Springdale Dr #303 Bradenton, FL	2.0	2.0	1304	$1,999	$1.53	3d	1	0.54mi
346 Springdale Dr Unit 346 Bradenton, FL	2.0	2.0	1304	$1,900	$1.46	24d	1	0.56mi
3715 45th Ter W Bradenton, FL	2.0	2.5	1429	$1,695	$1.19	24d	1	0.57mi
3825 45th Ter W #104 Bradenton, FL	2.0	2.5	1429	$1,550	$1.08	24d	1	0.57mi
3401 50th St W Bradenton, FL	3.0	2.0	1418	$2,699	$1.90	24d	1	0.60mi
3603 45th Ter W #101 Bradenton, FL	3.0	2.5	1200	$1,800	$1.50	3d	1	0.62mi
4112 Cape Vista Dr Bradenton, FL	3.0	2.0	1450	$3,495	$2.41	24d	1	0.63mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	3d	13	0.68mi
4802 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	1007	$1,950	$1.94	16d	15	0.68mi
434 Palm Tree Dr #434 Bradenton, FL	2.0	2.0	1728	$1,900	$1.10	24d	1	0.70mi
452 Palm Tree Dr Unit 452 Bradenton, FL	2.0	2.0	1304	$1,595	$1.22	3d	1	0.73mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	15d	3	0.79mi
4850 51st St W Bradenton, FL	1.0–2.0	1.0–2.0	800	$1,750	$2.19	3d	2	0.79mi
655 Woodlawn Dr Unit 655 Bradenton, FL	2.0	2.0	1148	$1,600	$1.39	24d	1	0.80mi
3512 32nd St W Bradenton, FL	2.0	1.0	1200	$2,100	$1.75	3d	1	0.81mi
586 Lakeside Dr Unit 586 Bradenton, FL	2.0	2.0	940	$3,200	$3.40	24d	1	0.85mi
577 Lakeside Dr Bradenton, FL	2.0	2.0	1728	$2,000	$1.16	24d	1	0.85mi
3806 Southern Pkwy W Bradenton, FL	3.0	2.0	1296	$2,176	$1.68	12d	1	0.85mi
206 Lakewood Dr Unit 206 Bradenton, FL	2.0	2.0	940	$2,700	$2.87	24d	1	0.88mi
142 Pineneedle Dr Unit 142U Bradenton, FL	2.0	2.0	1408	$2,395	$1.70	24d	1	0.91mi
183 Pineneedle Dr Bradenton, FL	2.0	2.0	1304	$1,800	$1.38	24d	1	0.91mi
184 Pineneedle Dr Bradenton, FL	2.0	2.0	940	$2,100	$2.23	24d	1	0.91mi
4880 51st St W Bradenton, FL	1.0–4.0	1.0–3.0	1019	$1,527	$1.50	3d	11	0.93mi

HOA detail condo

• Monthly dues: $658 · $7,896/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $169,900 Active 62 DOM
2. 2026-06-17
   days on market $169,900 Active 61 DOM
3. 2026-06-16
   days on market $169,900 Active 60 DOM
4. 2026-06-15
   days on market $169,900 Active 59 DOM
5. 2026-06-13
   days on market $169,900 Active 57 DOM
6. 2026-06-13
   days on market $169,900 Active 56 DOM
7. 2026-06-10
   days on market $169,900 Active 54 DOM
8. 2026-06-09
   days on market $169,900 Active 53 DOM
9. 2026-06-08
   days on market $169,900 Active 52 DOM
10. 2026-06-08
    days on market $169,900 Active 51 DOM
11. 2026-06-03
    days on market $169,900 Active 47 DOM
12. 2026-06-02
    days on market $169,900 Active 46 DOM
13. 2026-06-01
    days on market $169,900 Active 45 DOM
14. 2026-05-31
    days on market $169,900 Active 44 DOM
15. 2026-04-29
    price $175,000
16. 2026-04-17
    listed $180,000 Active
17. 2024-07-02
    historical
18. 2024-03-27
    price $250,000
19. 2024-02-09
    price $275,000
20. 2024-01-26
    listed $290,000 Active
21. 2014-05-30
    soldstatus $94,000 416-char remark

    Show marketing remark (416 chars)

    Active with Contract. Great Opportunity to own a condo in the Greens at Pinebrook - partial views of the golf course! This unit is located on the first floor - a spacious 2 bedroom 2 bath with an open plan, split bedroom design, eating space in kitchen, inside laundry and a screened lanai. Nice central location near restaurants, shopping, and the beach. No history or seller's disclosures available. Easy to show!

22. 2014-01-07
    listed $98,900 416-char remark

    Show marketing remark (416 chars)

    Active with Contract. Great Opportunity to own a condo in the Greens at Pinebrook - partial views of the golf course! This unit is located on the first floor - a spacious 2 bedroom 2 bath with an open plan, split bedroom design, eating space in kitchen, inside laundry and a screened lanai. Nice central location near restaurants, shopping, and the beach. No history or seller's disclosures available. Easy to show!

23. 1997-06-30
    soldstatus $84,000
24. 1997-06-23
    soldstatus $84,000
25. 1988-03-09
    soldstatus $65,400

ⓘ 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: $3,519 · $293/mo
• Projected year-2 tax: $3,519 · $293/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 4/10 Moderate FEMA zone X (unshaded) · 24% 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: $26,957
• − Mortgage interest: −$9,517
• − Property taxes: −$3,519
• − Insurance: −$850
• − Repairs & maintenance: −$2,157
• − Management: −$2,157
• − HOA: −$7,896
• − Depreciation: −$4,943
• Taxable loss: −$4,080
• Est. tax savings @ 24.0%: +$979
• After-tax cash flow: $-681/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

+167.6% since first listed

11 events — show timeline

• 2026-04-29 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-17 Listed $180,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-02 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-03-27 Price Changed $250,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-09 Price Changed $275,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-26 Listed $290,000 Stellar MLS as Distributed by MLS Grid
• 2014-05-30 Sold (MLS) $94,000 Stellar MLS as Distributed by MLS Grid
• 2014-01-07 Listed $98,900 Stellar MLS as Distributed by MLS Grid
• 1997-06-30 Sold (Public Records) $84,000 Public Records
• 1997-06-23 Sold (Public Records) $84,000 Public Records
• 1988-03-09 Sold (Public Records) $65,400 Public Records

Property tax history

+13.4%/yr

Latest (2025): $3,519 · +0.3% YoY. Source: county tax records.