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1420 Hoversham Dr New Port Richey, FL 34655

4 Beds 3 Baths 2,362 sqft Built 1993

$385,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $163.00
  • 4 Days on Market
  • MLS # : T3281221
  • Updated Date : 12/18/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,362 sqft
  • Baths : 3 full
Listing Agent

Robert Slack Llc

Listing Agent's Description

AWESOME location! FABULOUS neighborhood! AMAZING house! This 4 bedroom, 3 bath POOL home backs up to a CONSERVATION area with a WATERVIEW! Step through the STATELY DOUBLE DOORS onto HARDWOOD FLOORS and embrace the open feeling fostered by the CATHEDRAL CEILINGS and SPLIT BEDROOM floor plan. The Owner’s Ensuite enjoys high ceilings, sliders out to the pool, a lovely view of the water and conservation area, a walk-in closet, an upgraded double vanity, a garden tub, a walk-in shower, and a water closet. Additional sliders leading to the pool can be found in the SPACIOUS LIVING ROOM, the EAT-IN KITCHEN, as well as the FAMILY ROOM! The Kitchen is a dream with it’s granite counter tops, gorgeous cabinets, stylish backsplash, and decorative niches. Two of the bedrooms share a JACK-AND-JILL full bath, and the fourth bedroom, currently being used as an office has interior French doors, as well as exterior French doors that open to a mature fig tree nestled in a private garden hidden by mature landscaping. The pool area is screened, it’s big enough for plenty of seating, it has access to a full bath, and the pool is heated. The 3 CAR GARAGE has built-in cabinets, and convenient shelving. And, as if that’s not enough, this house is equipped with a vented FIREPLACE, a WATER SOFTENER, a SECURITY SYSTEM, a CENTRAL VACUUM system, an IRRIGATION system, and an INTERIOR laundry room. Book your appointment to see this GEM as quickly as you can!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Wyndtree

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $71k400k

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

Neighborhood: Wyndtree

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8252007

* 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
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,420
Property Tax -$430
Property Insurance -$174
HOA -$84
Property Management Fees -$129
CASH FLOW
$102

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.

$385,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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$1.4M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$45,925

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,061

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$1,7953$2,2014$2,3405$2,475
$2,475
RENT COMPS ANALYSIS
  • 1420 Hoversham Dr New Port Richey, FL 4
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.99
    •  
  • 1725 Horsechestnut Ct Trinity, FL 1
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2002
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.84
    •  
  • 1033 Arlinbrook Dr Trinity, FL 2
    • 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
    •  
  • 8551 Fenholloway Ct Trinity, FL 3
    • 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
    •  
  • 1220 Maravista Dr Trinity, FL 5
    • 5 beds 3 baths ∙ 2,653 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,653 Sqft ∙ Built 1998
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.93
    •  
PROPERTY LISTING DETAILS
Tiffany Hitz
1.727.200.0044
Robert Slack Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281221
Last Updated: 12/18/2020
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