1008 16th Ave W · Bradenton, FL 34205

$489,000

3 bd · 2.0 ba · 1,272 sqft · MultiFamily public records · 41 Days on market

Built 1950 8,612 sqft lot Est $361k · 35% over

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Why this score? — see what drove the F 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 +12.4/30.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Prime Investment Opportunity in Bradenton’s Village of the Arts Located in the highly sought-after Village of the Arts, this unique property is in the process of being finalized as a legal triplex, with the current owner working with the City of Bradenton to convert the garage into a fully approved third unit. Offering flexibility for an end user to live in one unit and rent others or an investor with options for short-term, long-term, or seasonal rentals, this property presents strong income potential in a vibrant, high-demand area. Unit Breakdown: Unit 1: 2-bedroom, 1-bath featuring an updated kitchen with stainless steel appliances, laminate flooring, decorative fireplace, an

Key facts

• Mature oak tree
• Outdoor space
• Legal triplex

Tags

• LEGAL TRIPLEX
• STRONG INCOME POTENTIAL
• CORNER LOT
• OFF-STREET PARKING
• OUTDOOR SPACE
• MATURE OAK TREE

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $489k.

Deal economics

• At list price, monthly cash flow is $-82 ($-983/yr) — negative. Per door: $-27/mo.
• To cash-flow at today's rent, offer at most $475k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $392k (19.8% below list).
• Recommended offer: $392k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 $3,924/mo this rent would consume 90% 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 $3k of loan paydown is wiped out by about $15k 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 41 days — a 3% lower offer ($474k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 22y 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 $335k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $392,400 (19.8% 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 41 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.80% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $361,248
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1701 13th St W	0.11mi	3/2.0	1,180 (-7%)	3mo	$263,000	$223	80
2005 12th St W	0.28mi	3/2.0	1,175 (-8%)	3mo	$232,000	$197	72
1419 18th St W	0.42mi	3/3.0	1,260 (-1%)	19mo	$400,000	$317	59
1611 Ballard Park Dr	0.57mi	4/3.0 (+1)	1,232 (-3%)	15mo	$349,997	$284	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.7%
• Equity multiple: 0.30×
• Total profit: $-96,017
• Equity at exit: $72,911

10-year hold

• IRR: -22.1%
• Equity multiple: 0.01×
• Total profit: $-135,021
• Equity at exit: $42,280

Cash invested: $136,920 (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: 31.2×

Monthly cashflow live

• Estimated rent: $3,924 medium
• Mortgage (P&I): −$2,564
• Tax from tax record: −$414 /mo · $4,965/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$824
• Net cashflow: $-82

Break-even live

Break-even rent $4,028

Max offer price $474,533

Occupancy floor 97%

Sensitivity live

Price	-10% $195	-5% $57	+0% $-82	+5% $-220	+10% $-359
Rent	-10% $-392	-5% $-237	+0% $-82	+5% $73	+10% $228
Rate	-1.0pp $164	-0.5pp $42	base $-82	+0.5pp $-209	+1.0pp $-338

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,924
Total (3 units)			$3,924

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 18th Ave W Bradenton, FL	3.0	2.0	1185	$1,795	$1.51	24d	1	0.21mi
1418 18th Avenue Dr W Unit 1418 Bradenton, FL	3.0	2.0	1000	$1,900	$1.90	24d	1	0.24mi
702 21st Ave W Unit C Bradenton, FL	2.0	1.0	1000	$1,350	$1.35	4d	1	0.32mi
1505 18th Avenue Dr W Bradenton, FL	3.0	1.0	886	$1,875	$2.12	16d	1	0.33mi
2244 9th St W Bradenton, FL	1.0–2.0	1.0–2.0	768	$1,323	$1.72	24d	4	0.41mi
1306 17th St W Unit 4 Bradenton, FL	2.0	1.0	1000	$1,100	$1.10	16d	1	0.45mi
2422 11th St W Bradenton, FL	2.0	1.0	900	$1,445	$1.61	24d	1	0.49mi
2004 20th Ave W Bradenton, FL	3.0	2.0	1650	$2,395	$1.45	24d	1	0.63mi
302 26th Ave W Bradenton, FL	2.0–3.0	2.0	1043	$2,005	$1.92	2d	23	0.63mi
603 27th Ave W Bradenton, FL	2.0	1.0	1365	$1,250	$0.92	24d	1	0.64mi
1623 8th Ave W Bradenton, FL	3.0	2.0	1650	$3,500	$2.12	2d	1	0.66mi
1214 21st St W Bradenton, FL	3.0	3.0	1841	$4,300	$2.34	24d	1	0.70mi
2001 25th Ave W Bradenton, FL	3.0	2.0	1370	$3,000	$2.19	20d	1	0.77mi
2321 18th Ave W Bradenton, FL	2.0	2.0	1168	$3,600	$3.08	24d	1	0.82mi
313 24th Ave E Bradenton, FL	3.0	2.0	1260	$2,400	$1.90	24d	1	0.85mi
2201 24th Ave W Bradenton, FL	2.0	2.0	1115	$1,950	$1.75	24d	1	0.86mi
515 30th Ave W Bradenton, FL	2.0	2.0	1001	$1,375	$1.37	16d	2	0.87mi
425 30th Ave W Unit C308 Bradenton, FL	2.0	2.0	924	$1,590	$1.72	24d	1	0.89mi
305 30th Ave W Unit A207 Bradenton, FL	2.0	2.0	1050	$1,400	$1.33	15d	1	0.90mi
305 30th Ave W Bradenton, FL	1.0–2.0	1.5–2.0	987	$1,400	$1.42	24d	2	0.90mi
505 22nd Ter E Bradenton, FL	3.0	2.0	1039	$1,989	$1.91	3d	1	0.91mi
102 Manatee Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1035	$2,303	$2.23	2d	14	0.92mi
505 30th Ave W Unit E406 Bradenton, FL	2.0	2.0	1001	$1,450	$1.45	24d	1	0.92mi
808 3rd Ave W #509 Bradenton, FL	2.0	2.0	1575	$2,900	$1.84	24d	1	0.95mi
1400 1st Ave W #504 Bradenton, FL	2.0	2.0	1280	$2,295	$1.79	24d	1	0.97mi
606 3rd Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1090	$2,105	$1.93	2d	23	0.98mi
520 22nd St W Unit 1071597P Bradenton, FL	3.0	2.0	1582	$4,235	$2.68	2d	1	0.99mi
919 34th Ave W Bradenton, FL	3.0	1.0	950	$1,599	$1.68	12d	1	0.99mi
907 34th Ave W Bradenton, FL	3.0	1.0	985	$1,599	$1.62	20d	1	1.00mi
907 34th Ave W Unit B Bradenton, FL	3.0	1.0	1000	$1,795	$1.79	24d	1	1.00mi
390 301 Blvd W Bradenton, FL	2.0	2.0	1125	$1,495	$1.33	24d	1	1.02mi
1016 7th St E Bradenton, FL	3.0	2.0	1198	$2,300	$1.92	4d	1	1.02mi
2309 Manatee Ave W Bradenton, FL	2.0	1.0	900	$1,535	$1.71	4d	4	1.03mi
1650 1st Ave W Unit 507B Bradenton, FL	2.0	2.0	1269	$2,300	$1.81	24d	1	1.05mi
1600 1st Ave W Unit 206A Bradenton, FL	2.0	2.0	1221	$2,000	$1.64	15d	1	1.07mi
3506 14th St W Bradenton, FL	3.0	1.0–2.0	874	$1,950	$2.23	24d	5	1.07mi
1613 28th St W Bradenton, FL	2.0	2.0	1200	$1,850	$1.54	24d	1	1.07mi
210 3rd St W Bradenton, FL	1.0–3.0	1.0–2.0	1094	$2,600	$2.38	2d	1	1.10mi
210 3rd St W #8402 Bradenton, FL	2.0	2.0	1000	$2,600	$2.60	24d	1	1.10mi
2306 30th Ave W Bradenton, FL	3.0	2.0	945	$1,700	$1.80	24d	1	1.10mi

Listing history 36 events

1. 2026-04-28
   status Pending
2. 2026-03-17
   listed $489,000 Active
3. 2025-04-16
   historical
4. 2025-04-01
   price $459,000
5. 2025-03-05
   listed $480,000 Active
6. 2024-05-24
   listed $489,000 Active
7. 2024-02-27
   listed $489,000 Active
8. 2022-12-27
   soldstatus $335,000
9. 2022-12-22
   soldstatus $335,000 Closed
10. 2022-11-17
    status Pending
11. 2022-11-06
    price $360,000
12. 2022-10-30
    price $375,000
13. 2022-10-22
    price $379,000
14. 2022-10-03
    price $389,000
15. 2022-09-22
    price $395,000
16. 2022-09-08
    listed $400,000 Active
17. 2017-02-21
    soldstatus $125,000
18. 2017-02-16
    soldstatus $125,000 Sold
19. 2017-01-27
    status Pending
20. 2017-01-17
    listed $158,000 Active
21. 2011-02-15
    soldstatus $40,000
22. 2011-02-15
    soldstatus $44,900
23. 2010-08-15
    listed $44,900
24. 2010-08-04
    listed $44,900
25. 2010-02-15
    historical
26. 2009-04-07
    historical
27. 2008-12-31
    listed $62,500
28. 2008-12-31
    listed $99,000
29. 2004-11-01
    soldstatus $146,000
30. 2004-10-28
    soldstatus $146,000
31. 2004-10-28
    soldstatus $146,000
32. 2004-08-31
    historical
33. 2004-08-31
    historical
34. 2004-08-03
    listed $149,900
35. 2004-08-03
    listed $149,900
36. 1998-08-24
    soldstatus $50,000

ⓘ 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: $4,965 · $414/mo
• Projected year-2 tax: $4,965 · $414/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) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $47,088
• − Mortgage interest: −$27,392
• − Property taxes: −$4,965
• − Insurance: −$2,445
• − Repairs & maintenance: −$3,767
• − Management: −$3,767
• − Depreciation: −$14,225
• Taxable loss: −$9,473
• Est. tax savings @ 24.0%: +$2,274
• After-tax cash flow: $1,291/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

+878.0% since first listed

36 events — show timeline

• 2026-04-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-17 Listed $489,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-01 Price Changed $459,000 Stellar MLS as Distributed by MLS Grid
• 2025-03-05 Listed $480,000 Stellar MLS as Distributed by MLS Grid
• 2024-05-24 Listed $489,000 Stellar MLS as Distributed by MLS Grid
• 2024-02-27 Listed $489,000 Stellar MLS as Distributed by MLS Grid
• 2022-12-27 Sold (Public Records) $335,000 Public Records
• 2022-12-22 Sold (MLS) $335,000 Stellar MLS as Distributed by MLS Grid
• 2022-11-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-11-06 Price Changed $360,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-30 Price Changed $375,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-22 Price Changed $379,000 Stellar MLS as Distributed by MLS Grid
• 2022-10-03 Price Changed $389,000 Stellar MLS as Distributed by MLS Grid
• 2022-09-22 Price Changed $395,000 Stellar MLS as Distributed by MLS Grid
• 2022-09-08 Listed $400,000 Stellar MLS as Distributed by MLS Grid
• 2017-02-21 Sold (Public Records) $125,000 Public Records
• 2017-02-16 Sold (MLS) $125,000 Stellar MLS as Distributed by MLS Grid
• 2017-01-27 Pending — Stellar MLS as Distributed by MLS Grid
• 2017-01-17 Listed $158,000 Stellar MLS as Distributed by MLS Grid
• 2011-02-15 Sold (MLS) $44,900 Stellar MLS as Distributed by MLS Grid
• 2011-02-15 Sold (MLS) $40,000 Stellar MLS as Distributed by MLS Grid
• 2010-08-15 Listed $44,900 Stellar MLS as Distributed by MLS Grid
• 2010-08-04 Listed $44,900 Stellar MLS as Distributed by MLS Grid
• 2010-02-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-04-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2008-12-31 Listed $99,000 Stellar MLS as Distributed by MLS Grid
• 2008-12-31 Listed $62,500 Stellar MLS as Distributed by MLS Grid
• 2004-11-01 Sold (Public Records) $146,000 Public Records
• 2004-10-28 Sold (MLS) $146,000 Stellar MLS as Distributed by MLS Grid
• 2004-10-28 Sold (MLS) $146,000 Stellar MLS as Distributed by MLS Grid
• 2004-08-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2004-08-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2004-08-03 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 2004-08-03 Listed $149,900 Stellar MLS as Distributed by MLS Grid
• 1998-08-24 Sold (Public Records) $50,000 Public Records

Property tax history

+11.1%/yr

Latest (2025): $4,965 · -0.3% YoY. Source: county tax records.