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4852 Spike Horn Dr New Port Richey, FL 34653

4 Beds 2 Baths 2,627 sqft Built 2002

$359,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $137.00
  • 2 Days on Market
  • MLS # : W7830750
  • Updated Date : 02/27/2021 at 19:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,627 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty

Listing Agent's Description

ONE OF THE LARGEST HOMES IN THE NEIGHBORHOOD, THIS PROPERTY FEATURES 4 FULL-SIZE BEDROOMS. ONE BEDROOM CURRENTLY USED AS AN OFFICE, KITCHEN FEATURES CORIAN COUNTER TOPS AND SOLID WOOD CABINETS. BREAKFAST NOOK HAS A LARGE SWEEPING WINDOW OVERLOOKING THE LANAI AND THE POND. OVERSIZED TWO CAR GARAGE, SPRINKLER SYSTEM. TILE IN LIVING AREAS AND CARPET IN BEDROOMS. DOUBLE DOOR MAIN ENTRANCE. MOVE-IN READY. EASY ACCESS TO ALL SERVICES AND STORES

SEE MORE

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: Sunset Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $71k283k

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

Neighborhood: Sunset Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8251672

* 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
Deer Park Elementary School Primary Regular 577 48 7
River Ridge Middle School Middle Regular 1,118 78 7
River Ridge High School High Regular 1,536 89 7

Deer Park Elementary School

  • Education Level: Primary
  • # of students: 577
  • # of teachers: 48
7
GreatSchools Rating

River Ridge Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 78
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,536
  • # of teachers: 89
7
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,250
Property Tax -$402
Property Insurance -$189
HOA -$17
Property Management Fees -$129
CASH FLOW
-$137

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.

$359,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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-$4.0k-$2.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,983

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,8503$2,400
$2,400
RENT COMPS ANALYSIS
  • 4852 Spike Horn Dr New Port Richey, FL 2
    • 4 beds 2 baths ∙ 2,627 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,627 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 8127 Tarsier Ave New Port Richey, FL 1
    • 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1989
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.69
    •  
  • 10212 Shooting Star Ct New Port Richey, FL 3
    • 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2003
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Bob George
1.727.244.6480
Future Home Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830750
Last Updated: 02/27/2021
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