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5054 School Rd New Port Richey, FL 34653

3 Beds 2 Baths 1,368 sqft Built 1972

$159,500

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $116.59
  • 5 Days on Market
  • MLS # : U8112473
  • Updated Date : 02/12/2021 at 18:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Investor Special! Roof 6 years old, Ceramic Title Through out the house, Open Floor Plan Living Room- Dining- Family Room Combo, Master Bedroom has a Full Size Tub Bath, Fenced Yard, Update to your Style and Taste, Good Bones! Just Blocks away from Gulf High School and Gulf Middle School, Call to Schedule your Appointment 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: Tanglewood Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $54k238k

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

Neighborhood: Tanglewood Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6261590

* 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
 

$143,550$175,450$159,500

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$554
Property Tax -$254
Property Insurance -$116
Property Management Fees -$129
CASH FLOW
$87

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.

$159,500

PROJECTED PRICE

$1,140

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 12.4%
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

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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,018

INVESTMENT

$48,018

Down Payment
$39,875
Rehab Estimate
$5,750
Closing Costs
$2,393

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$554

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $39,875
Loan Amount $119,625
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$17,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,163

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9993$1,1004$1,1405$1,250
$1,250
RENT COMPS ANALYSIS
  • 5054 School Rd New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.83
    •  
  • 6121 Louisiana Ave New Port Richey, FL 1
    • 3 beds 1 baths ∙ 1,088 Sqft ∙ Built 1958 3 beds 1 baths ∙ 1,088 Sqft ∙ Built 1958
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.87
    •  
  • 4126 Pecos Dr New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1977
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $999
    • $0.83
    •  
  • 6031 Maplewood Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1973
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.84
    •  
  • 6325 Missouri Ave New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1967
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.86
    •  
PROPERTY LISTING DETAILS
Richard Mitchell, Jr
1.727.365.0931
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112473
Last Updated: 02/12/2021
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