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11701 Colony Lakes Blvd New Port Richey, FL 34654

4 Beds 3 Baths 2,846 sqft Built 2006

$345,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $121.22
  • 5 Days on Market
  • MLS # : W7830204
  • Updated Date : 01/27/2021 at 17:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,846 sqft
  • Baths : 2 full , 1 half
Listing Agent

Horizon Palm Realty Group

Listing Agent's Description

Located in the beautiful Colony Lakes Subdivision, this home is an absolute must see! Amenities of this community include a large community pool, clubhouse, and playground. Home is situated on a quiet, tree-lined cul-de-sac & backs up to conservation land, affording lots of privacy. Walking in, you are greeted with cathedral ceilings, an open living space with an attached dining room & 1/2 bathroom for guests. As you enter the kitchen, there are updated 43-inch cabinets, Silestone counters, an island, stainless steel appliances & a large pantry. The family room is situated right off the kitchen, making this home ideal for entertaining. Wanting some indoor / outdoor life? Open the sliding doors to view the pool area. The screened lanai is breathtaking, as you enjoy the lagoon-style pool, featuring a waterfall & heated spa for year-round enjoyment. Enjoy the wildlife in your resort-like backyard while taking in the calming nature sounds from the wooded reserve. The master suite, located on the first floor, is very spacious. It offers a large, MUST SEE walk-in closet, a spacious bathroom with two vanities, a garden tub, separate stand up shower & plenty of natural light. Upstairs, there is a massive bonus loft that can be used an an extra living room or play area, or it be converted to another bedroom. You will also find 3 additional bedrooms, full bathroom, and plenty of storage. This home is conveniently located close to shopping, restaurants & the Suncoast Expressway. Both AC’s were replaced in 2020 & the home is already wired for a generator. Ready to take a look, make an appointment today; this home will not last!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Colony Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $71k366k

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

Neighborhood: Colony Lakes

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
Moon Lake Elementary School Primary Regular 584 55 5
Hudson Middle School Middle Regular 743 51 3
Fivay High School High Regular 1,320 81 4

Moon Lake Elementary School

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

Hudson Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 51
3
GreatSchools Rating

Fivay High School

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

$310,500$379,500$345,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,198
Property Tax -$386
Property Insurance -$202
HOA -$97
Property Management Fees -$129
CASH FLOW
-$22

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.

$345,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 6.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,533

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,106

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,990
$1,990
RENT COMPS ANALYSIS
  • 11701 Colony Lakes Blvd New Port Richey, FL 2
    • 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.70
    •  
  • 11607 Eastern Star Ct New Port Richey, FL 1
    • 3 beds 3 baths ∙ 2,553 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,553 Sqft ∙ Built 1999
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
PROPERTY LISTING DETAILS
Justine Zodda
1.352.428.3795
Horizon Palm Realty Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830204
Last Updated: 01/27/2021
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