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4747 Madison St New Port Richey, FL 34652

4 Beds 2 Baths 1,524 sqft Built 1973

$139,900

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $91.80
  • 5 Days on Market
  • MLS # : T3288252
  • Updated Date : 02/04/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,524 sqft
  • Baths : 2 full
Listing Agent

Quicksilver Real Estate Group

Listing Agent's Description

INVESTOR SPECIAL- HOME HAS GREAT POTENTIAL. 3 BEDROOMS AND 1 FULL BATH TO THE MAIN HOME-THEN ENTER INTO THE IN-LAW SUITE STUDO STYLE WITH KITCHEN AND 3/4 BATHROOM. THERE IS A PRIVATE ENTRANCE FROM THE OUTSIDE AS WELL AND A PRIVATE SIDE YARD. HOME IS SOLD AS IS. AGENTS AND BUYERS PLEASE VERIFY ALL LISTING INFORMATION.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Holiday Gardens Estates

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $50k238k

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

Neighborhood: Holiday Gardens Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6371590

* 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
James M. Marlowe Elementary School Primary Regular 418 36 2
Gulf Middle School Middle Regular 704 51 4
Gulf High School High Magnet 1,191 89 5

James M. Marlowe Elementary School

  • Education Level: Primary
  • # of students: 418
  • # of teachers: 36
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
 

$125,910$153,890$139,900

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$486
Property Tax -$156
Property Insurance -$125
Property Management Fees -$129
CASH FLOW
$314

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.

$139,900

PROJECTED PRICE

$1,210

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 14.0%
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$14k

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$42,824

INVESTMENT

$42,824

Down Payment
$34,975
Rehab Estimate
$5,750
Closing Costs
$2,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$486

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $34,975
Loan Amount $104,925
See What Happens When You Reinvest Cash Flow

15.5

YEARS SAVED

$35,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,425

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2503$1,3504$1,3955$1,595
$1,595
RENT COMPS ANALYSIS
  • 4747 Madison St New Port Richey, FL 1
    • 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,524 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.79
    •  
  • 5037 Brookside Ln New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1977
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 6037 Cecelia Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1973
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 6104 11th Ave New Port Richey, FL 4
    • 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
    •  
  • 5940 Gulf Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1970
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Heidi Priebe
1.952.270.0341
Quicksilver Real Estate Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3288252
Last Updated: 02/04/2021
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