NOT LISTED FOR SALE

5011 Commonwealth Rd Palmetto, FL 34221

Memphis Neighborhood

Estimated Value: $581,000 - $670,000

2 Beds
2 Baths
1,202 Sq Ft
$516/Sq Ft Est. Value

Last Sold April 26, 2021

Last sale price $470,000 $391 Per Sq Ft

Est. 32% increase in value since last sale

Current estimated payment $3,986/month

84 Days on Market

Highlights

  • Boat Ramp
  • Water Access
  • Traditional Architecture
  • Water Views
  • Fishing
  • Sun or Florida Room

About This Home

As of April 2021

Bay Colony Canal front home! This home has 2 bedrooms, 2 bathrooms and No Homeowners Association Deed Restrictions. The home boasts a new seawall and dock in 2017 and a new roof in 2018. The home features an updated kitchen with cherry cabinets, granite, and stainless steel appliances. The home has upgraded wiring and the Florida room has a built-in desk and cabinets. The canal is deep and has several Sailboats on it due to no bridges to the Intercoastal waterways. Enjoy the waterfront views of Terra Ceia Island and Bay! The location is convenient to I-275 and I-75 for an easy commute to St. Petersburg/Tampa or Bradenton/Sarasota. It s also near the Ellenton Outlet Mall, restaurants, shopping and a short drive to our beautiful Gulf beaches. Don't wait, call today!

Last Agent to Sell the Property

Tim Lester

TIM LESTER INTERNAT'L REALTY License #3101382 Listed on: 12/23/2020

Last Buyer's Agent

Lloyd Hart

REAL BROKER, LLC License #3126887

REAL BROKER, LLC

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $3,560

Year Built

  • Built in 1963

Lot Details

  • 8,999 Sq Ft Lot
  • Property fronts a saltwater canal
  • Street terminates at a dead end
  • East Facing Home
  • Mature Landscaping
  • Property is zoned RSF4.5/C

Parking

  • 1 Car Attached Garage
  • Bathroom In Garage
  • Driveway

Home Design

  • Traditional Architecture
  • Florida Architecture
  • Slab Foundation
  • Shingle Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • 1,202 Sq Ft Home
  • Ceiling Fan
  • Blinds
  • Sun or Florida Room
  • Terrazzo Flooring
  • Water Views
  • Laundry in Garage

Kitchen

  • Range
  • Recirculated Exhaust Fan
  • Microwave
  • Ice Maker
  • Dishwasher

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Outdoor Features

  • Water Access

Location

  • Flood Zone Lot
  • Flood Insurance May Be Required

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 151
  • Assessor Parcel Number 2223400009

Community Details

Overview

  • Palmetto Skyway Community
  • Palmetto Skyway Rep Subdivision
  • The community has rules related to allowable golf cart usage in the community

Recreation

  • Boat Ramp
  • Fishing

Home Details

Home Type

Single Family

Est. Annual Taxes

$3,560

Year Built

Built in 1963

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential
  • Property Condition: Completed
  • Property Sub Type: Single Family Residence
  • Architectural Style: Florida, Traditional
  • Water Extras: Dock - Open, Seawall - Concrete
  • Water View: Yes
  • Construction Materials: Block, Stucco
  • Living Area: 1202.00
  • Lot Size Acres: 0.21
  • Year Built: 1963
  • Building Area Total: 1491.00
  • Down Payment Resource URL: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4486878?w=Agent&skip_sso=true
  • Down Payment Resource URL 2: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4486878?w=Customer
  • Lot Size Sq Ft: 8999
  • Building Search Sq Meters: 138.52
  • Down Payment Resource Assistance: https://www.workforce-resource.com/dpr/listing/MFRMLS/A4486878?w=PubMLS
  • Directions to Property: US-41 N/1st St E/S Tamiami Trail, Use the left lane to turn slightly left onto US-19 N, Turn left onto 50th St W/Elena Rd, Slight left onto 8th Ave Blvd W/Palmetto Point Dr, Turn right onto 8th Ave W/Commonwealth Rd, Home will be on the left.
  • Escrow State: FL
  • List Office Head Office Key Nume: 1044459
  • Status: Sold
  • Tax Year: 2020
  • Special Features: None

Interior Features

  • Room Count: 6
  • Living Area Units: Square Feet
  • Additional Rooms: Florida Room
  • Flooring: Terrazzo
  • Full Bathrooms: 2
  • Interior Amenities: Ceiling Fans(s)
  • Appliances Included: Dishwasher, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Range, Refrigerator
  • Foundation Details: Slab
  • Total Bedrooms: 2
  • Levels: One
  • Window Features: Blinds
  • Living Area Meters: 111.67
  • Street Number Modifier: 5011

Exterior Features

  • Direction Faces: East
  • Water Extras: Yes
  • Waterfront Feet Salt Water Canal: 75
  • Water Access: Bay/Harbor, Canal - Saltwater
  • Roof: Shingle
  • Water View: Canal
  • Flood Zone Code: AE
  • Flood Zone Date: 03/17/2014
  • Flood Zone Panel: 12081C0162E
  • Water Access: Yes
  • View: Water
  • Water Body Name: TERRA CEIA BAY
  • Waterfront: Yes
  • Road Surface Type: Paved

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 1
  • Garage Yn: Yes
  • Parking Features: Bath In Garage, Driveway

Utilities

  • Utilities: Cable Available, Electricity Connected, Phone Available, Public, Sewer Connected, Water Connected
  • Cooling: Central Air
  • Heating: Central
  • Laundry Features: In Garage
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • S W Subdiv Community Name: Palmetto Skyway
  • Community Features: Community Boat Ramp, Fishing, Golf Carts OK, Water Access, Waterfront
  • Pet Restrictions: Verify all pet restrictions with Manatee County

Fee Information

  • Amenities Additional Fees: Homeowners can use the community boat ramp for a yearly fee.
  • Waterfront Frontage: 75

Lot Info

  • Total Acreage: 0 to less than 1/4
  • Zoning: RSF4.5/C
  • Parcel Number: 2223400009
  • Lot Features: Flood Insurance Required, FloodZone, In County, Street Dead-End, Street Paved
  • Lot Size Square Meters: 836

Rental Info

  • Minimum Lease: No Minimum
  • Additional Lease Restrictions: Verify all leasing restrictions with Manatee County
  • Furnished: Unfurnished
  • Pets Allowed: Yes

Tax Info

  • Tax Annual Amount: 3559.58
  • Tax Book Number: 12-15
  • Tax Lot: 151

Multi Family

  • Waterfront Features: Canal - Saltwater

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 23, 2020
Closed on
Apr 26, 2021
Sold by
Smith Frank C
Bought by
Morris Richard and Morris Carly
Seller's Agent
Tim Lester
TIM LESTER INTERNAT'L REALTY
Buyer's Agent
Lloyd Hart
REAL BROKER, LLC
List Price
$488,000
Sold Price
$470,000
Premium/Discount to List
-$18,000
-3.69%
Current Estimated Value
$619,944

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$149,944
Avg. Annual Appreciation
6.98%
Original Mortgage
$376,000
Outstanding Balance
$340,950
Interest Rate
3%
Mortgage Type
New Conventional
Estimated Equity
$288,943

Purchase Details

Closed on
Jul 17, 2014
Sold by
Chapman Vicki R
Bought by
Smith Frank C

Purchase Details

Listed on
Apr 7, 2013
Closed on
Oct 2, 2013
Sold by
Waibel Richard T
Bought by
Chapman Vicki R
Seller's Agent
Cassandra Capecchi
COLDWELL BANKER REALTY
Buyer's Agent
Vicki Chapman
NATIONAL JUBILEE REAL ESTATE
List Price
$225,000
Sold Price
$125,000
Premium/Discount to List
-$100,000
-44.44%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.56%
Original Mortgage
$87,500
Interest Rate
4.53%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 10, 2012
Sold by
Waibel Mary D
Bought by
Waibel Richard T
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Morris Richard $470,000 Attorney
Smith Frank C $145,000 Barnes Walker Title Inc
Chapman Vicki R $125,000 Sunbelt Title Agency
Waibel Richard T -- Attorney
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Morris Richard $376,000
Previous Owner Chapman Vicki R $87,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/26/2021 04/26/21 Sold $470,000 -3.7% $391 / Sq Ft
03/17/2021 03/17/21 Pending -- -- --
01/29/2021 01/29/21 For Sale $488,000 0.0% $406 / Sq Ft
01/22/2021 01/22/21 Pending -- -- --
12/23/2020 12/23/20 For Sale $488,000 +290.4% $406 / Sq Ft
10/04/2013 10/04/13 Sold $125,000 -40.5% $104 / Sq Ft
06/28/2013 06/28/13 Pending -- -- --
05/23/2013 05/23/13 Price Changed $210,000 -6.7% $175 / Sq Ft
04/07/2013 04/07/13 For Sale $225,000 -- $187 / Sq Ft
Source: Stellar MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,298 $525,098 $267,750 $257,348
2024 $7,298 $531,518 $267,750 $263,768
2023 $6,755 $476,094 $229,500 $246,594
2022 $3,911 $451,697 $225,000 $226,697
2021 $3,755 $260,951 $175,000 $85,951
2020 $3,560 $232,498 $150,000 $82,498
2019 $3,374 $222,571 $150,000 $72,571
2018 $3,272 $223,215 $150,000 $73,215
2017 $2,778 $194,430 $0 $0
2016 $2,596 $177,139 $0 $0
2015 $2,394 $145,500 $0 $0
2014 $2,394 $187,843 $0 $0
2013 $1,648 $137,051 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Stellar MLS

MLS Number: A4486878

Stellar MLS

APN: 22234-0000-9