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4751 Alcea St New Port Richey, FL 34652

3 Beds 2 Baths 1,524 sqft Built 1972

$145,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $95.73
  • 3 Days on Market
  • MLS # : T3275999
  • Updated Date : 11/13/2020 at 20:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,524 sqft
  • Baths : 1 full , 1 half
Listing Agent

Dennis Realty & Inv. Corp.

Listing Agent's Description

NEED SPACE?! Lots of possibilities with this SPACIOUS 3 bedroom (2 masters), 2 bath, 1 car home that also boasts a versatile OFFICE/DEN area + an oversized BONUS ROOM that is currently being used as a bedroom. Enter through the front door into an XL GREAT ROOM with beautiful WOOD flooring. Around the corner you will find a large, OPEN KITCHEN that features TILE flooring, lots of cabinets & counter space as well as a large pantry. At the back of the house, situated apart from the other bedrooms, is a SPACIOUS MASTER BEDROOM that features a WALK IN CLOSET & plenty of room for large furniture, a crib or a desk. Bedrooms 2 & 3 towards the front of the house, just off the living area, are adjacent to one another just down the hallway that also offers two storage closets & a full bathroom. Bedroom 2 is nearly the same size as the master bedroom & bonus room and also has room for several pieces of furniture including multiple beds, dressers, a desk and more. In the garage you will find the washer and dryer hookup and an enclosed bathroom with shower & toilet along with a sink just outside the bathroom door. The one car garage features an automatic garage door opener & there is room to park multiple cars in the convenient double driveway. Just down the road you'll find Sim's Park with a playground and splash pad. NO HOA! Priced to sell so don't delay! Exterior needs TLC but interior is move in ready! AC replaced 12/2006 & Roof in 2008.

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: 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
 

$131,310$160,490$145,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$538
Property Tax -$163
Property Insurance -$125
Property Management Fees -$80
CASH FLOW
$334

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.

$145,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.85%

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$16k

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$44,414

INVESTMENT

$44,414

Down Payment
$36,475
Rehab Estimate
$5,750
Closing Costs
$2,189

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$538

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,475
Loan Amount $109,425
See What Happens When You Reinvest Cash Flow

15.58

YEARS SAVED

$43,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,406

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,2503$1,2954$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 4751 Alcea St New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.81
    •  
  • 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
    •  
  • 4404 Terry Loop New Port Richey, FL 3
    • 4 beds 1 baths ∙ 1,416 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,416 Sqft ∙ Built 1963
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
  • 6037 Cecelia Dr New Port Richey, FL 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Lisa Henderson
1.813.949.7444
Dennis Realty & Inv. Corp.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3275999
Last Updated: 11/13/2020
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