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5030 Overlook Dr New Port Richey, FL 34652

3 Beds 2 Baths 1,476 sqft Built 1966

$165,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $111.79
  • 3 Days on Market
  • MLS # : U8105927
  • Updated Date : 11/28/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,476 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Don't miss this updated 3 bedroom, 2 bath home nestled in a quiet, wooded street and conveniently located near schools, shopping and restaurants. This home features numerous updates including a NEW ROOF, new paint and all new kitchen appliances. The interior sits on attractive ceramic tile flooring throughout and showcases an open living room and kitchen combo, 3 spacious bedrooms, 2 full bathrooms with a tub and a shower option, and a beautifully updated kitchen with all new stainless steel appliances, wood shaker cabinets, gorgeous counter tops and a tile backsplash. A large enclosed lanai in the rear of the house provides access to the sizable, fenced back yard. This lovely home is ready and awaiting its new owner. Make it yours today!

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silver Oaks Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $46k238k

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

Neighborhood: Silver Oaks Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6061590

* 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
 

$148,500$181,500$165,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$609
Property Tax -$184
Property Insurance -$97
Property Management Fees -$80
CASH FLOW
$90

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.

$165,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 1.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$23,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,050

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,0603$1,2004$1,2255$1,295
$1,295
RENT COMPS ANALYSIS
  • 5030 Overlook Dr New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,047 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,047 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $1.01
    •  
  • 4536 Belfast Dr New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1965
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.93
    •  
  • 6013 11th Ave New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1973
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.01
    •  
  • 5048 Larch Ln New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1985
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $1.01
    •  
  • 4603 Croton Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1970
    property image
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jeffrey Borham, Pa
1.509.929.5180
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8105927
Last Updated: 11/28/2020
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