7005 56TH TERRACE E, PALMETTO, FL, 34221
Active30 days on marketListed Jun 24, 2026MLS #J1002378
About this home
7005 56TH TERRACE E
Beautifully maintained 3-bedroom, 2-bath waterfront home offering 1,779± square feet of comfortable living space in the desirable Crystal Lakes community of Palmetto. Recent updates include fresh interior paint and updated lighting fixtures, creating a clean, move-in-ready feel throughout. The spacious floor plan features open living and dining areas, abundant natural light, and a private primary suite. Enjoy peaceful water views from the backyard, offering plenty of space to relax, entertain, or simply unwind. Residents of Crystal Lakes benefit from low HOA fees and no CDD fees, helping keep ownership costs affordable while enjoying a well-maintained community setting. Conveniently located near shopping, dining, schools, parks, major roadways, and Gulf Coast beaches, this home offers an excellent combination of value, location, and waterfront living. Whether you're looking for a primary residence, seasonal retreat, or investment opportunity, this move-in-ready waterfront home is not to be missed.
Facts & features
The home at a glance
3
Bedrooms
2
Bathrooms
1,779
Sqft
0.23 ac
Lot size
2
Garage
2009
Year built
One
Levels
$219
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record and the real association fee — not generic estimates.
$3,050 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$3,050/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
vs edgeAI estimate
+2.2%
$/sqft vs Palmetto actives
$219 vs $207
Days on market
30 vs 55 typical
Where $219/sqft sits among the 400 Palmetto actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Crystal Lakes
Drive times from this address
Estimated driving times, typical traffic. Data © OpenStreetMap contributors.
Get to know Palmetto. See the full Palmetto guide →
Crystal Lakes — neighborhood snapshot
Population
544
Median age
40
Median income
$144,245
Median home value
$390,000
Avg household
3
Households w/ children
39%
For the school run
Manatee County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Palmetto market
$359K → $361K
Palmetto median sold, yr/yr
97.2%
Sale-to-list ratio (12 mo)
213 of 400
Palmetto actives have cut their price
Median sold price, Palmetto, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 7% above the PALMETTO 34221 median. See the full Palmetto market guide →
Paper trail
This home's history
Reality check
What actually sold near 7005 56TH TERRACE E
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · May ’26$308,000
5014 72ND STREET E · same community
3 bd · 2 ba · 1,717 sqft · $179/sqft · 6 DOM
Sold · Mar ’26$360,000
7170 50TH AVENUE CIRCLE E · same community
3 bd · 2 ba · 1,717 sqft · $210/sqft · 63 DOM
Sold · Dec ’25$460,000
3461 CRYSTAL LAKES COURT · same community
3 bd · 2 ba · 1,841 sqft · $250/sqft · 4 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, negotiation, and every question about 7005 56TH TERRACE E — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 7005 56TH TERRACE E — before you fall in love.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Straight answers
7005 56TH TERRACE E FAQs
What would the monthly payment be for 7005 56TH TERRACE E?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $3,050/mo — principal and interest, the actual property-tax bill, the $52/mo association fee and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
How much are the HOA fees at 7005 56TH TERRACE E?+
The association fee works out to $52 per month. Ask us for the full association documents — they spell out exactly what the fee covers.
What are the property taxes on 7005 56TH TERRACE E?+
The most recent tax bill on record (2025) was $4,430. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
Are pets allowed at 7005 56TH TERRACE E?+
The listing reports pets: Cats OK, Dogs OK, Yes. Communities often layer on breed or weight rules — we'll verify the specifics with the association before you commit.
How does the price compare to other homes in Palmetto?+
At $390,000, this home is listed about 2% below the Palmetto median of $399,000. The market section on this page shows how the area is trending.
Which schools are assigned to 7005 56TH TERRACE E?+
Virgil Mills Elementary School (elementary), Buffalo Creek Middle School (middle), Palmetto High School (high) — Manatee County School District. Always verify school assignments with the district before relying on them.
Keep looking
Similar homes nearby
Listing courtesy of STELLAR NON-MEMBER OFFICE · Non-Member Agent. MLS #J1002378.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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