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6014 1st Ave New Port Richey, FL 34653

4 Beds 2 Baths 1,454 sqft Built 1974

$234,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $161.55
  • 10 Days on Market
  • MLS # : O5956156
  • Updated Date : 07/13/2021 at 15:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,454 sqft
  • Baths : 2 full
Listing Agent

Beycome Of Florida Llc

Listing Agent's Description

This Beautiful 4/2 Single family home is perfect for anyone looking to live in the New Port Richey area! With stainless steel appliances, granite countertops, roof, AC, and electrical that will pass inspection, this is a perfect choice for anyone looking for a quiet place to settle down! (TENANT OCCUPIED, DO NOT DISTURB!!)

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: 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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$816
Property Tax -$383
Property Insurance -$121
Property Management Fees -$129
CASH FLOW
-$39

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.

$234,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$11,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,338

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1503$1,3504$1,3955$1,410
$1,410
RENT COMPS ANALYSIS
  • 6014 1st Ave New Port Richey, FL 5
    • 4 beds 2 baths ∙ 1,454 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,454 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.97
    •  
  • 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
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.93
    •  
  • 6032 12th Ave New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1973
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.91
    •  
  • 6037 Cecelia Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1973
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 6104 11th Ave New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1973
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.91
    •  
PROPERTY LISTING DETAILS
Steven Koleno
1.844.239.2663
Beycome Of Florida Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5956156
Last Updated: 07/13/2021
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