1-Bedroom Condo Income
New
For Sale
$144,500
4802 51ST STREET W #1912, Bradenton, FL 34210
One-bedroom, one-bath condominium unit offering a residential income property configuration.
Property Size794 SF
Price / SF$181.99
Days on Market5
Property Features for 4802 51ST STREET W #1912
General Information
Standard status
Active
Size
794 SF
Property subtype
Condo - Hotel
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
Shingle
Fenced
Public Sewer
Additional parcels description:, Parcel Number: 5165830709, Public Survey Range: 17E, Public Survey Section: 08, Annual Amount: $2,278.61, Tax Book Number: 2038-5178, Legal Description: BLDG 19 UNIT 12 THE PALMS OF CORTEZ PI#51658.3070/9, Year: 2025, Zoning: PDP
Laminate, Vinyl
Central Air
Central, Electric, Heat Pump
Inside, Laundry Room
Listing ID: MFRTB8539262, Standard Status: Active, MLS Status: Active, Property Subtype: Condo - Hotel, On market as of 2026-08-18, Special Conditions: None
Common
Blinds, Window Treatments
1 total bedroom
Built in 2002, Living area: 794, Living area units: Square Feet, Building faces East, 1 storey, Levels: One, Construction Materials: Cement Siding, Frame
Subdivision: THE PALMS OF CORTEZ, MLS Area (Major): 34210 - Bradenton, County/Parish: Manatee
City, Tennis Court
1 total bathroom, 1 full bathroom
Fitness Center, Gated Community - No Guard, Irrigation-Reclaimed Water, Playground, Pool, Sidewalks, Tennis Court(s), Street Lights
BB/HS Internet Available, Cable Available, Electricity Connected, Sewer Connected, Water Connected, Water Source: Public
Allowed: Number Limit
Road Surface: Asphalt
Balcony, Rain Gutters, Tennis Court(s)
Ceiling Fans(s), Crown Molding, High Ceilings, Solid Wood Cabinets, Thermostat, Tray Ceiling(s), Window Treatments
Fire Sprinkler System, Gated Community, Security Gate
Cooktop, Dishwasher, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator
Association Fee: $332, Fee Frequency: Monthly, Fee Includes: Maintenance, Pest Control, Pool, Trash, Amenities: Laundry
Building Details
Year Built
2002
Listing Agency:
HOMECOIN.COM
(888) 400-2513
Listed By:
Jonathan Minerick · License #3477996
Source:
Miharaandassociates
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 4:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HOMECOIN.COM
Investment Insights
Based on property information with market context.
This residential income property is a condominium unit with one bedroom and one bathroom. The unit contains 794 square feet and was built in 2002.
The property is located at 4802 51ST STREET W #1912 in Bradenton, Florida 34210.
The property is located at 4802 51ST STREET W #1912 in Bradenton, Florida 34210.
Key Highlights
- One‑bedroom, one‑bath condominium unit
- 794 square feet
- Built in 2002
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,607
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$192,140
$192.1K
Cap Rate 7%
$137,243
$137.2K
Cap Rate 9%
$106,744
$106.7K
Market Conditions
NOI Build-Up for 794 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.5K $23.28/SF
− Vacancy
−$1.0K −$1.28/SF
EGI
$17.5K $22.00/SF
− OpEx
−$7.9K −$9.90/SF
NOI
$9.6K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$192,140
Cap Rate 7%
$137,243
Cap Rate 9%
$106,744
Alternative Uses
Best Use
Apartment 5plus
$137.2K
$120.1K – $160.1K
NOI $9,607 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$233.5K
$204.3K – $272.4K
NOI $16,344 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 34210, FL
16,447
Population
11,870
Households
1.4
Avg Household Size
54
Median Age
37%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
1,848
Density / Sq Mi
$64,306
Median Household Income
$37,216
Median Earnings
$1,552
Median Rent
$279,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom, one-bath condominium unit offering a residential income property configuration.
Where is this residential income property located?
The property is located at 4802 51ST STREET W #1912 Bradenton, FL.
What is the asking price?
The asking price for this property is $144,500.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium unit; 794 square feet; Built in 2002
