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5116 Dove Dr New Port Richey, FL 34652

3 Beds 2 Baths 1,330 sqft Built 1968

$169,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $127.07
  • 2 Days on Market
  • MLS # : T3287593
  • Updated Date : 01/30/2021 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,330 sqft
  • Baths : 1 full , 1 half
Listing Agent

Future Home Realty Inc

Listing Agent's Description

CHARMING 3 BEDROOM 2 BATHROOM 1 CAR GARAGE HOME IN COLONIAL HILLS SUBDIVISION. THIS BEAUTIFUL HOME HAS AN OPEN FLOOR PLAN THAT CREATES A SPACIOUS FEEL. GORGEOUS UPDATED KITCHEN WITH STAINLESS STEEL APPLIANCES, UPDATED BATHROOMS, TILE FLOORS THROUGHOUT WITH THE EXCEPTION OF 2 BEDROOMS THAT HAVE CARPET. AMAZING DRY BAR FOR ENTERTAINING! NEW ROOF 2014, NEWER A/C APPX. 6 YEARS OLD, NEWER HOT WATER HEATER APPX. 5 YEARS OLD. EXTERIOR OF THE HOME IS FRESHLY PAINTED WITH A FENCED IN BACKYARD FOR ENJOYING THE LOVELY FLORIDA EVENINGS IN THE PRIVACY OF YOUR YARD. CLOSE TO BEACHES, SHOPPING, RESTAURANTS, AND SCHOOLS! SCHEDULE YOUR SHOWING TODAY AS THIS GEM WONT LAST!!

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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: Colonial Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Colonial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6521590

* 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
Anclote Elementary School Primary Regular 606 45 2
Gulf Middle School Middle Regular 704 51 4
Gulf High School High Magnet 1,191 89 5

Anclote Elementary School

  • Education Level: Primary
  • # of students: 606
  • # of teachers: 45
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
 

$152,100$185,900$169,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$587
Property Tax -$189
Property Insurance -$114
Property Management Fees -$129
CASH FLOW
$232

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.

$169,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.6%
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$200k$400k$600k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,535

INVESTMENT

$50,535

Down Payment
$42,250
Rehab Estimate
$5,750
Closing Costs
$2,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$587

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,250
Loan Amount $126,750
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$33,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,280

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2453$1,2504$1,2505$1,280
$1,280
RENT COMPS ANALYSIS
  • 5116 Dove Dr New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 3618 Panola Dr New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 5304 Bob White Dr Holiday, FL 2
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1972
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.95
    •  
  • 3324 Bedford St Holiday, FL 3
    • 4 beds 1 baths ∙ 1,230 Sqft ∙ Built 1966 4 beds 1 baths ∙ 1,230 Sqft ∙ Built 1966
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.02
    •  
  • 5247 Reef Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1974
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.00
    •  
PROPERTY LISTING DETAILS
Konstadinos Karatzas
1.727.741.3690
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287593
Last Updated: 01/30/2021
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