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6052 12th Ave New Port Richey, FL 34653

3 Beds 2 Baths 1,261 sqft Built 1974

$190,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $150.67
  • 3 Days on Market
  • MLS # : U8112238
  • Updated Date : 02/06/2021 at 21:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,261 sqft
  • Baths : 2 full
Listing Agent

Re/max Action First Of Florida

Listing Agent's Description

MULTIPLE OFFERS. Highest and Best Due by 3pm Sunday 2/7/21. Nearly everything has been replaced in this fantastic 3 Bedroom, 2 full inside bathroom home! The roof and HVAC were replaced in Dec 2019. The attic just had new blown in insulation added. The water heater is new as well as the garage door. All new gorgeous wood plank tile runs thru the entire home. The kitchen and both bathrooms were gutted and completely redone with high quality easy close cabinets, solid surface counters and stainless steel appliances! The master bedroom has an ensuite bathroom and a nice sized walk in closet. Call your agent and schedule your tour today!!! Click on the photos for additional descriptions and details!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Holiday Gardens Estates

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $50k238k

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

Neighborhood: Holiday Gardens Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6371590

* 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
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$660
Property Tax -$212
Property Insurance -$109
Property Management Fees -$129
CASH FLOW
$59

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.

$190,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 14.0%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$18,412

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,170

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1503$1,1704$1,2505$1,350
$1,350
RENT COMPS ANALYSIS
  • 6052 12th Ave New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.93
    •  
  • 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
    •  
  • 5037 Brookside Ln New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1977
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 6037 Cecelia Dr New Port Richey, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kelly Dixon
1.727.692.3073
Re/max Action First Of Florida
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112238
Last Updated: 02/06/2021
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