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5427 Wellfield Rd New Port Richey, FL 34655

3 Beds 2 Baths 1,905 sqft Built 1991

$280,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $146.98
  • 2 Days on Market
  • MLS # : W7829522
  • Updated Date : 01/02/2021 at 16:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,905 sqft
  • Baths : 2 full
Listing Agent

Florida Luxury Realty Inc

Listing Agent's Description

STOP LOOKING! YOU FOUND YOUR NEXT HOME!!!! Welcome to this spacious 3/2/2 with a Pool. Conveniently located in the Southern Oaks Subdivision near Trinity's newest shopping areas. This home offers a spacious split floor plan and cozy family room off the kitchen. Enjoy your family BBQ's in your covered Lanai around your pool or take a walk and experience some of natures beauty in Starkey Park. Relax in your master bathroom's soaking tub with separate shower and his and her sinks. This home has a second bathroom leading out to the pool for guests, separate laundry room, formal living room, formal dining room, with an oversized 2 car garage. This home wont last, schedule your showing 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: Southern Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $71k367k

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

Neighborhood: Southern Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8252023

* 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
Longleaf Elementary School Primary Regular 645 51 9
River Ridge Middle School Middle Regular 1,118 78 7
River Ridge High School High Regular 1,536 89 7

Longleaf Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 51
9
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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,033
Property Tax -$313
Property Insurance -$147
HOA -$23
Property Management Fees -$129
CASH FLOW
$165

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.

$280,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$44,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,638

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5503$1,6504$1,6955$1,810
$1,810
RENT COMPS ANALYSIS
  • 5427 Wellfield Rd New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.95
    •  
  • 9330 Via Segovia New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1988
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 9543 Conservation Dr New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1997
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 5301 Wellfield Rd New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1992
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 9321 Bearcat Rd New Port Richey, FL 4
    • 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1995
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tiffany Prete
1.727.364.6033
Florida Luxury Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7829522
Last Updated: 01/02/2021
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