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11621 Constance Dr Port Richey, FL 34668

3 Beds 2 Baths 984 sqft Built 1979

INVESTimate

$144,000

List Price

$920

$828 - $1,012

Rent Est.

$160,157  ( +11.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $146.34
  • 6 Days on Market
  • MLS # : U8095034
  • Updated Date : 08/21/2020 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 984 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Nestled in an established community, is this 3 bedroom 2 bathroom home ready for new owners! New flooring, easy to maintain has been installed in the living room. The rest of the house has that retro vibe, with the checkered tiling. This home has brand new windows which truly helps to maintain energy efficiency. The bedrooms are a good size, and features cedar closets, perfect for Florida humidity! Enjoy your privacy on the screened-in lanai overlooking the large fenced in backyard. Enjoy living close to many amenities, shopping, and restaurants! The elementary school is just down the road, as well as, Werner-Boyce Salt Springs State Park. Don't miss out on this gem! Call today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Gulf Highlands

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k238k

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

Neighborhood: Gulf Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6021590

* 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
Gulf Highlands Elementary School Primary Regular 578 43 3
Bayonet Point Middle School Middle Regular 708 50 3
Fivay High School High Regular 1,320 81 4

Gulf Highlands Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 43
3
GreatSchools Rating

Bayonet Point Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 50
3
GreatSchools Rating

Fivay High School

  • Education Level: High
  • # of students: 1,320
  • # of teachers: 81
4
GreatSchools Rating
 

$129,600$158,400$144,000

PURCHASE PRICE

$828$1,012$920

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $920
EXPENSES Loan Payment -$531
Property Tax -$160
Property Insurance -$93
Property Management Fees -$80
CASH FLOW
$55

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.

$144,000

PROJECTED PRICE

$920

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.22%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$43,910

INVESTMENT

$43,910

Down Payment
$36,000
Rehab Estimate
$5,750
Closing Costs
$2,160

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,000
Loan Amount $108,000
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$17,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $920

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $895

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$920
1$9202$1,1003$1,1004$1,1505$1,200
$1,200
RENT COMPS ANALYSIS
  • 11621 Constance Dr Port Richey, 1
    • 3 beds 2 baths ∙ 984 Sqft ∙ Built 1979 3 beds 2 baths ∙ 984 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $920
    • $0.93
    •  
  • 7521 Birchwood Dr Port Richey, 2
    • 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,120 Sqft ∙ Built 1972
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.98
    •  
  • 11828 Oceanside Dr Port Richey, 3
    • 3 beds 1 baths ∙ 1,272 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,272 Sqft ∙ Built 1979
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.86
    •  
  • 11722 Oceanside Dr Port Richey, 4
    • 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1979
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.88
    •  
  • 11701 Alpine Pkwy Port Richey, 5
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1974
    property image
    LEASED 02/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Brittany Cheek
1.727.420.6972
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8095034
Last Updated: 08/21/2020
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