Three-Bedroom
611 61st Avenue Terrace E, Bradenton, FL 34203
For Sale
$399,999
One residence is occupied while the other is available for a new tenant or owner occupancy.
Property Size2,388 SF
Price / SF$167.50
Days on Market60
Property Features for 611 61st Avenue Terrace E
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
FIELDS OF PROSPER LLC
Listed By:
Clarence Fields · License #3427822
(813) 424-0643
Source:
Susannelosso
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 7 at 1:09PM
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 FIELDS OF PROSPER LLC
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Investment Insights
Based on property information with market context.
This duplex at 611 61st Avenue Terrace E in Bradenton includes two residential units, each configured with three bedrooms and two bathrooms. The property was built in 1981 and is identified with a total property size of 2,388 SF.
The current occupancy provides a split-use configuration: the left unit is tenant occupied, while the right unit is vacant. That arrangement supports continued rental use or the option to occupy one side while maintaining the other as a residence. The address is in Bradenton, Florida 34203.
The current occupancy provides a split-use configuration: the left unit is tenant occupied, while the right unit is vacant. That arrangement supports continued rental use or the option to occupy one side while maintaining the other as a residence. The address is in Bradenton, Florida 34203.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms per unit
- Left unit is tenant occupied
- Right unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,370
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,400
$627.4K
Cap Rate 7%
$448,143
$448.1K
Cap Rate 9%
$348,556
$348.6K
Market Conditions
NOI Build-Up for 2,388 SF
Gross rent
$47.3K $19.80/SF
− Vacancy
−$2.5K −$1.03/SF
EGI
$44.8K $18.77/SF
− OpEx
−$13.4K −$5.63/SF
NOI
$31.4K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,400
Cap Rate 7%
$448,143
Cap Rate 9%
$348,556
Alternative Uses
Best Use
Multifamily LT 5
$448.1K
$392.1K – $522.8K
NOI $31,370 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$412.8K
$361.2K – $481.6K
NOI $28,894 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$702.2K
$614.5K – $819.3K
NOI $49,157 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
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Business Placement
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Bradenton, FL
Properties on Market for Duplexes in Bradenton
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied while the other is available for a new tenant or owner occupancy.
Where is this duplex located?
The property is located at 611 61st Avenue Terrace E Bradenton, FL.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms per unit; Left unit is tenant occupied; Right unit is vacant
