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3209 Kismet Ct New Port Richey, FL 34655

3 Beds 2 Baths 1,118 sqft Built 1979

$175,000

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $156.53
  • 2 Days on Market
  • MLS # : U8107384
  • Updated Date : 12/13/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,118 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Welcome home! Beautifully updated 3 bedroom, 2 bathroom home located at the end of a quiet cut-de-sac. Your new home is a split plan with the master bedroom to the right side of the home, and bedrooms 2 and 3 are to the left. Your master bedroom has a private ensuite and walk in closet. Enjoy your spacious updated kitchen, with easy access to the living room and the back porch. Increase your living space by opening the slider off the kitchen and dine al fresco on your private screened in porch. Enjoy this beautiful weather on your back porch over looking your large fenced in yard. Yard has plenty of space for the dogs and kids to run around, or to add a pool! You have storage space in the shed in back corner of yard.

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: Seven Springs Homes

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Seven Springs Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6641590

* 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
Seven Springs Elementary School Primary Regular 513 37 3
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Seven Springs Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 37
3
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
 

$157,500$192,500$175,000

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$646
Property Tax -$195
Property Insurance -$101
Property Management Fees -$129
CASH FLOW
$9

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.

$175,000

PROJECTED PRICE

$1,080

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 13.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$16,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,079

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,080
1$1,0802$1,2503$1,2504$1,2755$1,350
$1,350
RENT COMPS ANALYSIS
  • 3209 Kismet Ct New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.97
    •  
  • 6852 Willits Ave New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1978
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.97
    •  
  • 6051 Halifax Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1980
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 7608 Anaheim Ave New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1980
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.02
    •  
  • 3544 Gorman Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1973
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
PROPERTY LISTING DETAILS
Kerryann Fuller Rainey
1.727.687.4342
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107384
Last Updated: 12/13/2020
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