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1327 Davenport Dr New Port Richey, FL 34655

3 Beds 2 Baths 2,497 sqft Built 1992

INVESTimate

$379,900

List Price

$2,070

$1,863 - $2,277

Rent Est.

$405,657  ( +6.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $152.14
  • 7 Days on Market
  • MLS # : W7825860
  • Updated Date : 08/24/2020 at 14:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,497 sqft
  • Baths : 2 full
Listing Agent

Madison Allied Llc

Listing Agent's Description

Beautiful and well kept single family home in the sought after Trinity area. As soon as you walk in the door you're welcomed by a very open and spacious floor plan. Bedrooms and bathrooms are generously sized. Enjoy views of the serene back yard and cypress preserve. Outstanding extra-large screened-in tiled lanai and freshly painted patio would be perfect for entertaining guests at a summer cookout. Home has been priced to allow the potential buyer the opportunity to build their own custom dream pool. Indoor climate is very comfortable with the extremely quiet and energy efficient HVAC that was installed 10/18. This AC features a touch-screen smart thermostat where you can control the temperature and humidity level from your smart device! You will never have to worry about replacing the gorgeous tiled roof with a LIFETIME limited warranty installed in 2009. Newer water heater and kitchen appliances. Close to beaches, restaurants, shopping and medical offices/hospitals! Community features a tennis and basketball court in a park-like setting just a short walk away. Do not miss out on this fantastic home!

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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: Chelsea Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $71k435k

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

Neighborhood: Chelsea Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8252265

* 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
Trinity Oaks Elementary School Primary Regular 717 55 7
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Trinity Oaks Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 55
7
GreatSchools Rating

Seven Springs Middle School

  • Education Level: Middle
  • # of students: 1,442
  • # of teachers: 88
9
GreatSchools Rating

James W. Mitchell High School

  • Education Level: High
  • # of students: 1,892
  • # of teachers: 117
7
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,402
Property Tax -$458
Property Insurance -$182
HOA -$27
Property Management Fees -$80
CASH FLOW
-$78

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.

$379,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.78%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$25,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,160

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$2,0704$2,1005$2,201
$2,201
RENT COMPS ANALYSIS
  • 1327 Davenport Dr New Port Richey, 3
    • 3 beds 2 baths ∙ 2,497 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,497 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.83
    •  
  • 1033 Arlinbrook Dr Trinity, 1
    • 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,234 Sqft ∙ Built 1994
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 2721 Manning Dr Trinity, 2
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 2623 Palesta Dr New Port Richey, 4
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 8551 Fenholloway Ct Trinity, 5
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2004
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,201
    • $0.92
    •  
PROPERTY LISTING DETAILS
Michelle Williams
1.727.698.9873
Madison Allied Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7825860
Last Updated: 08/24/2020
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