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6109 Moog Rd New Port Richey, FL 34653

3 Beds 2 Baths 1,310 sqft Built 1979

$189,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $144.27
  • 2 Days on Market
  • MLS # : U8110184
  • Updated Date : 01/16/2021 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,310 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Enter into this light and bright open floorplan with 2 bedrooms and 2 baths. You will not need to do anything except move right in. Sellers are very meticulous in caring for and keeping everything clean and in working order. Easy care neutral tile abounds throughout the entire home. There is a beautiful kitchen with breakfast bar, stainless steel appliances, newer cabinets and countertops. A/C Condenser and Water Heater 2015. Inside Laundry room has a 2nd refrigerator that will remain for the new Owners along with washer and dryer. Extensive updates include a newer vanity, new paint inside and out, newer vertical blinds, light fixtures, double French doors leading out to the rear lanai where you can entertain, cookout and enjoy the fenced in private setting. Driveway has double parking pad. Newer garage door where even the garage floor and driveway have a floor coating to make these aesthetically pleasing. Home is located in a quiet part of Colonial Hills with NO flood insurance or HOA required. Perfect starter, full-time or seasonal Florida home. Room sizes are approximate.

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MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$656
Property Tax -$211
Property Insurance -$112
Property Management Fees -$129
CASH FLOW
$81

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.

$189,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.63%

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

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$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$656

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$20,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,179

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$999
1$9992$1,1903$1,1954$1,2455$1,250
$1,250
RENT COMPS ANALYSIS
  • 6109 Moog Rd New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.91
    •  
  • 4126 Pecos Dr New Port Richey, FL 1
    • 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
    •  
  • 3618 Panola Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1970
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 5304 Bob White Dr Holiday, FL 4
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1972
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.95
    •  
  • 6051 Halifax Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1980
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
Muriel Murphy
1.727.643.6692
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8110184
Last Updated: 01/16/2021
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