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11402 Tee Time Cir New Port Richey, FL 34654

3 Beds 3 Baths 2,178 sqft Built 2002

$318,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $146.42
  • 4 Days on Market
  • MLS # : T3283494
  • Updated Date : 01/08/2021 at 20:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Capture the true essence of Florida in this exceptional two story 3 bedroom/2.5 bath home in the sought-after gated community of River Ridge Country Club. This meticulously maintained, 2,178 square foot home with lushly landscaped yard, screened lanai & lake views afford endless possibilities, providing the perfect place to entertain family and friends or just relax at home. Remodeled kitchen is a culinary dream with granite countertops, white shaker cabinets with soft close drawers, recessed lighting, stainless steel appliances, breakfast bar, large eat in area & full backsplash. Numerous upgrades and features per the seller include spacious & open split floor plan; cathedral ceilings; newly painted interior; HVAC replaced in 2013; remodeled half bath; Italian made tile & Bruce hardwood flooring; master bedroom on first floor; master bath with garden tub, dual sinks & shower; walk in closets; living/great room combination; formal dining room; loft; inside utility room; ceiling fans; irrigation system; plentiful closet, shelving and storage space; gutters & downspouts; 2 car garage and much more. Conveniently located near top rated schools, churches, restaurants, shopping. This is an extraordinary home in an exceptional community and will not last long!

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: River Ridge Country Club

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $71k244k

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

Neighborhood: River Ridge Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8251590

* 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
Cypress Elementary School Primary Regular 795 54 4
River Ridge Middle School Middle Regular 1,118 78 7
River Ridge High School High Regular 1,536 89 7

Cypress Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 54
4
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
 

$287,010$350,790$318,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,108
Property Tax -$357
Property Insurance -$163
HOA -$195
Property Management Fees -$129
CASH FLOW
-$51

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.

$318,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 2.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,259

INVESTMENT

$90,259

Down Payment
$79,725
Rehab Estimate
$5,750
Closing Costs
$4,784

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,725
Loan Amount $239,175
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$16,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,960

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,9003$1,9854$2,0155$2,050
$2,050
RENT COMPS ANALYSIS
  • 11402 Tee Time Cir New Port Richey, FL 2
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 11246 Oyster Bay Cir New Port Richey, FL 1
    • 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
    •  
  • 11246 Ragsdale Ct New Port Richey, FL 3
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2006
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.88
    •  
  • 12101 Roseland Dr New Port Richey, FL 4
    • 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 1993
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.98
    •  
  • 12338 Eclipse Ct New Port Richey, FL 5
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 2003
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.88
    •  
PROPERTY LISTING DETAILS
Paul Virgadamo
1.727.919.8994
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3283494
Last Updated: 01/08/2021
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