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3640 Calera Dr New Port Richey, FL 34652

3 Beds 3 Baths 1,625 sqft Built 1974

$250,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $153.85
  • 5 Days on Market
  • MLS # : U8116775
  • Updated Date : 03/18/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,625 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Upscale renovations in this spacious 3 bedroom 2.5 bath home conveniently located in the heart of New Port Richey just minutes from the rejuvenated downtown NPR area. Beautiful wood laminate flooring sprawls throughout the main living areas and the open concept makes the home feel even larger than it is. The updated kitchen features wood cabinetry and granite counters with a breakfast bar and walk-in pantry. A dinette area is decorated with beautiful shiplap and an electric fireplace. The main bedroom has double closets and an ensuite bathroom with soaking tub. All three bedrooms are large. The home has newer insulated windows throughout. Backyard is fully fenced with lots of tropical plants and trees it's own firepit. This home has been used as an income-producing Airbnb rental and could continue to be used as such or would make a great owner-occupied home. Either way, it's a gem you don't want to miss!

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MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$868
Property Tax -$279
Property Insurance -$131
Property Management Fees -$129
CASH FLOW
$93

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.

$250,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$25,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,5004$1,5495$1,595
$1,595
RENT COMPS ANALYSIS
  • 3640 Calera Dr New Port Richey, FL 3
    • 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 6104 11th Ave New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
  • 5855 Thrush Dr New Port Richey, FL 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1977
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 5731 Thrush Dr New Port Richey, FL 4
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 1972
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.91
    •  
  • 5803 Liddell Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1974
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Christina Probeyahn
1.727.744.7211
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8116775
Last Updated: 03/18/2021
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