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3633 Colonial Hills Dr New Port Richey, FL 34652

3 Beds 1 Baths 1,180 sqft Built 1967

$155,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $131.36
  • 77 Days on Market
  • MLS # : W7827220
  • Updated Date : 12/18/2020 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,180 sqft
  • Baths : 1 full
Listing Agent

Horan Realty Group Llc

Listing Agent's Description

Nice 3/1/1, great neighborhood. Fenced yard with storage shed. New carpet. Fresh paint. New mini blinds. Front porch. OWNER FINANCING! 10% DOWN, 8% INTEREST, 30 YEAR AMORTIZATION, no balloon...........CASH OR OWNER FINANCING ONLY

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: Colonial Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Colonial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6521590

* 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
Anclote Elementary School Primary Regular 606 45 2
Gulf Middle School Middle Regular 704 51 4
Gulf High School High Magnet 1,191 89 5

Anclote Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 45
2
GreatSchools Rating

Gulf Middle School

  • Education Level: Middle
  • # of students: 704
  • # of teachers: 51
4
GreatSchools Rating

Gulf High School

  • Education Level: High
  • # of students: 1,191
  • # of teachers: 89
5
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$572
Property Tax -$173
Property Insurance -$105
Property Management Fees -$129
CASH FLOW
$121

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.

$155,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$25,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,171

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1003$1,1954$1,2505$1,280
$1,280
RENT COMPS ANALYSIS
  • 3633 Colonial Hills Dr New Port Richey, FL 2
    • 3 beds 1 baths ∙ 1,180 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,180 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.93
    •  
  • 3534 Cantrell St New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,032 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,032 Sqft ∙ Built 1965
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.07
    •  
  • 3618 Panola Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 3324 Bedford St Holiday, FL 4
    • 4 beds 1 baths ∙ 1,230 Sqft ∙ Built 1966 4 beds 1 baths ∙ 1,230 Sqft ∙ Built 1966
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.02
    •  
  • 5247 Reef Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1974
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kevin Horan
1.727.375.7653
Horan Realty Group Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7827220
Last Updated: 12/18/2020
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