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3212 Town Ave New Port Richey, FL 34655

3 Beds 3 Baths 2,010 sqft Built 2001

$335,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $166.67
  • 3 Days on Market
  • MLS # : T3289964
  • Updated Date : 02/13/2021 at 19:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,010 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bingham Realty Inc

Listing Agent's Description

Charming 2 story in the exclusive Longleaf community. Relax on the wrap-around front porch or enjoy the peace and quiet on the side patio in the fenced in yard. This 3 bedroom, 2.5 bath home features a newly remodeled kitchen in 2020 with stunning granite countertops, a huge island and a custom built panty . There is even a bonus room for extra entertaining, a playroom or home office with a half bath downstairs. Upstairs you'll find the 2 additional bedrooms and the large Master Bedroom and bath. New AC, exterior paint, pavers, fence, and stainless steel appliances in 2018. New porcelain tile throughout the home in 2020. This Award Winning community has welcoming front porches, tree-lined streets, a community heated POOL & SPA, Playground, full diamond baseball field, tennis & basketball courts, beach style Volleyball, soccer fields, a Quaint Town Center with shops & restaurants, community events & activities. Enjoy neighborhood walks & recreational bike trails along Starkey Blvd leading to the Starkey Wilderness Park. Longleaf Elementary & Longleaf Learning Center are located within the neighborhood. Quick commute to the Suncoast Parkway, Tampa, the airport, shopping, dining, and entertainment.

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: Longleaf

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $71k347k

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

Neighborhood: Longleaf

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8252011

* 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
Longleaf Elementary School Primary Regular 645 51 9
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Longleaf Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 51
9
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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,164
Property Tax -$477
Property Insurance -$153
HOA -$8
Property Management Fees -$129
CASH FLOW
-$141

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.

$335,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,6253$1,6504$1,6505$1,790
$1,790
RENT COMPS ANALYSIS
  • 3212 Town Ave New Port Richey, FL 5
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 9545 Alvernon Dr New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1999
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.87
    •  
  • 3637 Player Dr New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1983
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.89
    •  
  • 3702 Sarazen Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1984
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 9550 Riverchase Dr New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2004
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
PROPERTY LISTING DETAILS
Tiffany Bingham
1.813.997.1648
Bingham Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289964
Last Updated: 02/13/2021
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