#A4639337, Lisa Taylor, Listing office: FINE PROPERTIES
7116 56th Ter E Palmetto, FL 34221
Property details
About 7116 56th Ter E
Welcome to your dream home! Nestled at the end of a peaceful cul-de-sac in a well-established neighborhood with long-time neighbors who truly love their community, this beautifully maintained 5-bedroom, 4-bathroom residence offers the perfect combination of space, privacy, and modern convenience. Whether you have a growing family or simply desire room to spread out, this home provides exceptional flexibility and comfort. The light-filled great room serves as the heart of the home, seamlessly connecting to the kitchen and dining area—an ideal space for entertaining or relaxing with family. The kitchen is thoughtfully designed with Corian countertops, 42” upper cabinets, pantry, newer appliances including a refrigerator, and ample storage and prep space to make cooking a joy. A bonus den or office space offers even more room for your unique needs, whether that's working from home, creating a playroom, or designing your dream hobby area. The home features two primary suites, offering unmatched flexibility for multi-generational living or hosting guests. The main suite is a luxurious retreat, complete with a large walk-in closet, a garden tub, a separate shower, and dual vanities. The second suite, tucked away behind a private pocket door, provides both comfort and privacy. All bedrooms are generously sized, and the home is filled with elegant design touches like arched doorways and rounded corners that add warmth and character. Upstairs, you'll find a spacious additional bedroom and full bath, along with two versatile rooms perfect for a gym, media room, or second office. A large under-stairs storage room, as well as abundant closet space throughout, ensures that everything has its place, making organization effortless. Step outside to your private backyard oasis, where a heated pool and spa overlook a tranquil preserve. The outdoor area is perfect for entertaining, with a dedicated pool bath, its own linen closet, and a covered patio already plumbed for a future outdoor kitchen or sink—imagine hosting family barbecues or quiet evening gatherings under the stars. This home is also packed with smart upgrades and recent improvements. A brand-new roof was installed in December 2023, complete with a radiant barrier for enhanced energy efficiency. The 3-car garage also features a radiant barrier to keep it comfortable throughout the year. Additional updates include a new pool filter (July 2025), a newer A/C unit servicing the first floor, and beautiful porcelain tile in the main living areas with plush carpeting in the bedrooms. The professionally maintained landscaping—with weekly weed control, fertilization, and pool service—means the owners truly cared for this property! Convenience is key, and this location delivers. You’re just minutes from I-75, I-275, and US-301, making commuting a breeze. Shopping, dining, schools, and everyday amenities are all nearby, and best of all, you’re only a short drive from the world-famous beaches of Anna Maria Island. Professional photography will be available once the current tenant moves out at the end of the month—but don't wait! Homes like this are rare. Schedule your private showing today and see for yourself why this incredible property is the perfect place to call home.
Highlights
Summary
- Full Bathrooms: 4
- Appliances: Dishwasher, Disposal, Electric Water Heater, Exhaust Fan, Microwave, Range, Range Hood, Refrigerator
- Flooring Type: Carpet, Tile
- Interior: Cathedral Ceiling(s), Ceiling Fans(s), High Ceilings, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Wood Cabinets, Split Bedroom, Tray Ceiling(s), Vaulted Ceiling(s), Walk-In Closet(s)
- Total Bedroom Count: 5
- Garage Space: 3 spaces
- Attached Garage: Yes
- Private Pool: Yes
- View: Park
- Exterior: Lighting
- Heating: Electric
- Cooling: Central Air, Zoned
- List Price: $599,000
- Price/SqFt: $188
- HOA Amount: $600 Annually
- Annual Tax Amount: $3,174
- Tax Year: 2023
- Lot: Cul-De-Sac, Greenbelt, Landscaped, Dead End Street, Paved
- Directions: Buffalo Rd. south to (left) east on 72nd St E. to right on 50th Ave Circle E, turn left on 71st St E to left turn on 56th Terr. E.
- Year Built: 2006
- Stories: 2
- Living Area: 3,174 SqFt
- Lot Size: 0.19 Acres
- MLS Number: A4657405
- MLS Name: MFRMLS
- Office Name: COLDWELL BANKER REALTY
- Office Phone: (941) 739-6777
- Listing Agent: Jim McElhinney
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Price information
Property sales
Date | Event | Price |
---|---|---|
May 10, 2011 | Home Sold | $230,000 |
Dec 27, 2006 | Home Sold | $435,500 |
Tax history
Year | Assessment | Property Tax |
---|---|---|
2023 | $253,173 | $3,174 |
2022 | $245,799 | $3,085 |
2021 | $238,640 | $3,085 |
2020 | $235,345 | $3,001 |
2018 | $225,764 | $2,751 |
2017 | $221,120 | $2,751 |
History based on county public records data.
Nearby schools
5
Virgil Mills Elementary School
Public District PK-5
1.0 mi
•7200 69th St E
5
Parrish Charter Academy
Public Charter KG-4
1.9 mi
•8605 Erie Rd
3
Blackburn Elementary School
Public District PK-5
3.5 mi
•3904 17th St E
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $78,188. Typical income of Palmetto, FL residents is between $35k-100k annually. Residents typically live in married, no kids family. Most residents in this area have post secondary degree education.
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Frequently asked questions
About 7116 56th Ter E
The listing price of 7116 56th Ter E property is $599,000.
The property 7116 56th Ter E is a house located in Palmetto, Florida, 34221.
Active Listing: 7116 56th Ter E is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 7116 56th Ter E are: Virgil Mills Elementary School (GreatSchools Rating 5/10), Parrish Charter Academy (GreatSchools Rating 5/10), Blackburn Elementary School (GreatSchools Rating 3/10), Buffalo Creek Middle School (GreatSchools Rating 5/10), Imagine Charter School at North Manatee (GreatSchools Rating 4/10), Palm View K-8 School (GreatSchools Rating 4/10), Parrish Community High School (GreatSchools Rating 6/10), Manatee School for the Arts (GreatSchools Rating 5/10), Manatee Virtual Franchise (Etech School of Manatee) (GreatSchools Rating 3/10).
According to the records, the last property tax for 2023 is $3,174 (source: MLS/based on county public records data).
The last sale was on May 10, 2011 for $230,000 (source: MLS/tax record).
The property at 7116 56th Ter E has 5 bedrooms and 4 bathrooms.
The property 7116 56th Ter E is 3,174 SqFt (source: MLS/tax record).
The year of construction for 7116 56th Ter E is 2006.
This home is located at 7116 56th Ter E in Palmetto, FL and zip code 34221. This 3,174 square foot home, which was built in 2006, sits on a 0.19 acre lot. Features: 5 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since July 15, 2025 and is currently priced at $599,000.
While more than 4 listings in Palmetto, FL in June 2025 were sold above asking price, there were more than 22 listings sold at asking price, and more than 53 were sold below. Between May and June 2025, Palmetto, FL real estate market has seen decrease in the number of listings by 9%. The median list price of listings available in June 2025 was $374,990, while the average time on the real estate market was 61 days.