Bayshore Gardens is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Bayshore Gardens are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Bayshore Gardens are slightly higher than the national average. Bayshore Gardens apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Bayshore Gardens.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bayshore Gardens are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.18% - 7.42% |
| 7 Year Fixed | 6.82% - 7.06% |
| 10 Year Fixed | 6.73% - 6.97% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bayshore Gardens.
The city of Bayshore Gardens in Manatee County has a population of 20,287. The median rent in Manatee County for a 2 bedroom is $1,383. The median Bayshore Gardens resident is 44 years old with a yearly income of $24,878. The average family has 3.3 members and a median household income of $43,290. Bayshore Gardens has a 17% higher education rate. The unemployment rate in Bayshore Gardens is 8.6%.
42.7% of Bayshore Gardens households are renters.
31% median household income spent on rent.
Bedrooms |
Manatee County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $912 | $822 | $737 |
| 1 bedroom | $1,076 | $891 | $813 |
| 2 bedroom | $1,383 | $1,089 | $1,015 |
| 3 bedroom | $1,829 | $1,448 | $1,325 |
| 4 bedroom | $2,202 | $1,716 | $1,521 |
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