tomo logo

$464,000

Beds
3
Baths
2.0
sq ft
947

1318 6th St W, Palmetto, FL 34221

1318 6th St W

PALMETTO, FL 34221

  • 74 days on market
    • Price drop $6,000↓
Welcome home to this amazing cottage in the heart of Historic Palmetto. This adorable home sits on a corner lot in a quiet neighborhood just a few blocks from the Manatee River. Recent updates include New HVAC, New plumbing, New electrical panel, complete bathroom remodel i 2023, a brand-new pool and more all in 2021. This cottage features an open covered front porch as well as a screened in lanai just off the pool. The main home consists of 2 bedrooms and 1 bathroom with an open living and kitchen floorplan. There is also a detached studio space featuring a full bath right off the pool that would make a great guest house. The home is located on a corner lot and is fully fenced with mature landscaping. With this home being minutes to downtown Palmetto, Bradenton and just 11 miles to the beautiful beaches of Anna Maria it would make a great place to call home. This has been operating as a successful vacation rental home with $12k on the books so far for 2025 just in the first three months.all previous rental income ranges from $50,000 in 2022 to a recent numbers for 2024 at $40,500. For more details on rental income available upon request.

Details

Property type

Single Family Residence

Est. home value

$332,971

Lot size

8,002 sq ft

Price per sq ft

$490

Year built

1930

Annual property taxes

$5,013

HOA

No

Price History

01/10/2025
StellarMLS

StellarMLS #A4627892

Price change
$464,000
-1.28%
01/02/2025
StellarMLS

StellarMLS #A4627892

Price change
$470,000
-1.05%
12/16/2024
StellarMLS

StellarMLS #A4627892

Price change
$475,000
-0.84%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$241,633
Asking price
$464,000
Closing costs (~8% of asking)
-$37,120
Est. remaining loan balance
-$185,247
Cash to seller
$241,633

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Homebridge Financial Services Inc

Loan start date

August 2021

Original loan amount

$200,000

Est. remaining balance

$185,247

Interest rate

3.02%

Loan type

New Conventional, 30 year

Seller

Stephen Adair and Jessica Adair

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 01/22/2025 at 7:05 PM

Listing updated: 01/10/2025 at 6:11 PM

Listed by: Jessica Adair, MARCUS & COMPANY REALTY Phone #: (941) 932-8550

MLS: StellarMLS #A4627892

StellarMLS logo

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