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6122 9th Ave New Port Richey, FL 34653

3 Beds 2 Baths 1,430 sqft Built 1973

$194,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $136.29
  • 3 Days on Market
  • MLS # : U8112937
  • Updated Date : 02/12/2021 at 20:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,430 sqft
  • Baths : 2 full
Listing Agent

Suncoast Group Realtors Llc

Listing Agent's Description

One or more photo(s) has been virtually staged. Being Quarantined really makes you think about what you want in a home. Just in time for Valentine's Day, this little piece of paradise will check those boxes making you fall in Love. NEW! NEW! NEW! Do you want to move into a house where the roof, AC, water heater, electric, and windows (with new screens) have already been taken care of just for you? This is it. Don't miss this gem. 3 bedroom 2 bathroom home features fresh paint (interior & exterior), updated kitchen, remodeled bathrooms, enclosed Florida room, and an oversized garage. Florida room would be great for an at home office or entertaining; enjoying your morning coffee or just imagine- festive lights hanging over your own personal bar while you relax at the end of the day. This could be yours to grow in!!! No carpet so bring them furbabies too to enjoy the fenced in backyard. Getting the itch for some fresh air? You don't need to venture far out. Within minutes, you are downtown NPR (festivals, music, parks, trails, and so many eateries & drinkeries), in Trinity (plenty of plazas to partake in some retail therapy), or head to Tarpon to enjoy some delicious food & salty air. Less than 45 minutes from hub towns and airports. This is a prime, affordable, & convenient location. Bonus- No flood insurance required. Call today to schedule your private showing and fall in love with your future.

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: 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
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$677
Property Tax -$218
Property Insurance -$119
Property Management Fees -$129
CASH FLOW
$87

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.

$194,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.63%

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$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$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$21,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,298

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2303$1,3504$1,3955$1,495
$1,495
RENT COMPS ANALYSIS
  • 6122 9th Ave New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.86
    •  
  • 6032 12th Ave New Port Richey, FL 1
    • 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
    •  
  • 5855 Thrush Dr New Port Richey, FL 5
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1977
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
PROPERTY LISTING DETAILS
Theresa Rodden
1.727.514.9590
Suncoast Group Realtors Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8112937
Last Updated: 02/12/2021
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