502 South Bay Blvd is a 1,983 sq ft Single Family in Anna Maria. It was built in 1976. 502 South Bay Blvd sits on 0.12 acres of land. In 2015 similar properties sold for between $729,070 and $1,023,525. We estimate the income value of 502 South Bay Blvd at $55,771. The assumptions we used to calculate this value are include in the spreadsheet linked below. Anna Maria is in Manatee County, Florida.

502 South Bay Blvd Property Summary

502 South Bay Blvd
Anna Maria
FL 34216

Property Size:1,983 sq ft
Acreage:0.12
Year Built:1976
Property Class:B3
Lat, Long: 27.531, -82.728

Not Offered for Sale

This property is not currently for sale by Visulate but we may be able to find something similar. Contact us for details.

Google Street View  of 502 South Bay Blvd, Anna Maria, FL 34216
Estimated Value: 502 South Bay Blvd

Market Data

In 2015 class A single family properties in Anna Maria sold for $516.16 to 871.79 per sq ft with a median price per sq ft of $669.19. Class B properties sold for $367.66 to 516.15 per sq ft with a median of $443.67 and class C properties sold for $185.91 to 367.65 per sq ft with a median of $333.14.

Market Valuation

502 South Bay Blvd appears to be a B Class property. Suggested value: $879,798

HighMedianLow
Value1,023,525 879,798 729,070

Income Valuation - Residential/Gross Lease

Visulate estimates the income value of this property is $55,771. Details of how we produced this estimate value appear below:

The income value of a property identifies its value as a rental property, Value = Rent - Expenses / Cap Rate. The following table shows four different rent estimates for 502 South Bay Blvd:

  • The Household Income estimate assumes the tenant has a total household income of $331,550 and spends 34% of this on rent. The household income estimate is derived from census data and tax records.
  • The Household Income - Renters estimate performs a similar calculation based on the household income of renters rather than all households.
  • The Market Rents estimate evaluates this property in comparison to rental properties in the area.
  • The Price/Ft estimate uses the size of the property to estimate its rent.

Click on a rent value to download a spreadsheet that estimates the NOI (net operating income), cash on cash return, income value and IRR (internal rate of return) for this property.

Valuation ModelMonthly Rent
Household Income - All Households $9,394
Household Income - Renters $2,339
Market Rents $2,357
Price/Ft $1,600

Expense Estimates:

  • Census data records show 13% of the rental properties in this area are vacant. We've added a 5% bad dept allowance to this.
  • Maintenance costs are estimated based on the size of the property.
  • The property tax estimate uses the average millage rate for the county. It does not include adjustments for city or unincorporated areas. Actual taxes may vary.
  • Insurance estimates are based on the size and location of the property. They are not adjusted for age, flood zone or other risk factors
  • We don't have a way to estimate HOA fees. These should be added manually

The following table shows a income valuation estimate for 502 South Bay Blvd. Download a spreadsheet or click on the Estimate Cashflow link to change its estimates and assumptions. Alternatively, click on the Save button to upload a copy of the spreadsheet to Google Drive.

Amount
Monthly Rent2,357
Annual Rent per Sq Ft14.00
Gross Annual Rent28,287
Vacancies and Bad Debt18%
Vacancies and Bad Debt Amount5,092
Maintenance1,031
HOA, Utilities and CAM0
Property Taxes14,060
Insurance1,371
Management Fees2,829
NOI3,904
Cap Rate7
Estimated Value55,771
Edit Values and Estimate Cashflow Estimate Cashflow
Save to Google Drive (Google login required)

Page 1 of 2. Click on the Estimate Cashflow link to navigate to Page 2.

Search County Property Tax and Court Records

Select a county from the list then click on the links to connect to the Property Appraiser or Clerk of Courts website

Local Household Income

The median household income in this part of Florida is $54,523. The bottom 10% of the population earn less than $18,447 per year. The top 10% earn more than $131,721 per year. The top 1% earn more than $409,221 per year. Most renters earn between $27,912 (20th percentile) and $48,372 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $109,046 and $136,308.

The tax assessed value of this property places it in percentile 98 of all properties in this area. This suggests it would appeal to someone earning around $331,550 per year who should qualify for a mortgage between $663,100 and $828,875.

Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates

Local Rents

The median monthly rent in this part of Florida is $912. Most renters earn between $2,326 and $4,031 per month. They typically spend 34% of their monthly income on rent. Most rents fall in the $717 (20th percentile) to $1,218 (80th percentile) range. The residential vacancy rate is 13%.

This property falls in percentile 98 of all properties in this area. This corresponds to a rent of $3,164 per month and a monthly household income of $8,882 ($106,584 per year)

Links

  1. 502 South Bay Blvd, Anna Maria, FL on Zillow
  2. Recent Sales near 502 South Bay Blvd, Anna Maria, FL on Realtor.com
  3. 502 South Bay Blvd, Anna Maria, FL on Google Maps
  4. 502 South Bay Blvd Walkscore
  5. Anna Maria, FL Property Values on Trulia
  6. Search for EPA and DEP Cleanup Sites

Owner Details

Companies near this Address

  1. Skyway View, LLC (406 South Bay Blvd)
  2. Ami Retreat, LLC (509 S Bay Blvd)
Disclaimers and Disclosures

Public Records Data

The information on this page was compiled from public records. It is deemed reliable but not guaranteed to be an accurate snapshot of the property details at the time the snapshot was taken. All information should be independently verified.

The Visulate site was produced from data and information compiled from recorded documents and/or outside public and private sources. Visulate is not the custodian of public records and does not assume responsibility for errors or omissions in the data it displays or for its misuse by any individual.

In the event of either error or omission, Visulate and any 3rd party data provider shall be held harmless from any damages arising from the use of records displayed on the site.