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10817 Hedges St New Port Richey, FL 34654

4 Beds 2 Baths 2,160 sqft Built 1986

$189,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $87.92
  • 7 Days on Market
  • MLS # : O5920841
  • Updated Date : 02/02/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,160 sqft
  • Baths : 2 full
Listing Agent

Blurock Residential, Llc

Listing Agent's Description

This house has a lot of potential, and just needs the right eye. This house is priced so that the buyer can make a lot of money. It is in a quiet, country area, but convenient to local grocers stores. Living room, bonus room, and 2 garages. The kitchen cabinets are in great condition. Concrete foundation. Fenced in back yard. A little bit of money will go a long way here.

SEE MORE

MARKET HIGHLIGHTS

  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)

PRICE & RENT TRENDS

Neighborhood: Moon Lake Estates

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $47k238k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Moon Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6111590

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Moon Lake Elementary School Primary Regular 584 55 5
River Ridge Middle School Middle Regular 1,118 78 7
River Ridge High School High Regular 1,536 89 7

Moon Lake Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 55
5
GreatSchools Rating

River Ridge Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 78
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,536
  • # of teachers: 89
7
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$660
Property Tax -$246
Property Insurance -$162
Property Management Fees -$129
CASH FLOW
$444

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$189,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

15.67

YEARS SAVED

$49,057

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,640

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,879

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6504$1,7755$2,100
$2,100
RENT COMPS ANALYSIS
  • 10817 Hedges St New Port Richey, FL 1
    • 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.76
    •  
  • 9323 Beaufort Ct New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,919 Sqft ∙ Built 2005
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 9428 Beaufort Ct New Port Richey, FL 3
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 11246 Oyster Bay Cir New Port Richey, FL 4
    • 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2006
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 11453 Belle Haven Dr New Port Richey, FL 5
    • 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Drew Shofner
1.321.295.3998
Blurock Residential, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5920841
Last Updated: 02/02/2021
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