Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6509 Ridge Crest Dr Port Richey, FL 34668

4 Beds 2 Baths 1,592 sqft Built 1978

$229,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $144.41
  • 3 Days on Market
  • MLS # : T3280278
  • Updated Date : 12/12/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Jpt Realty Llc

Listing Agent's Description

GREAT STARTER POOL HOME! Fantastic opportunity to own this 4br/2ba an oversized 1-car garage in a quiet, friendly, and centrally neighborhood located in Ridge Crest Gardens community. Enter into a spacious living room that is perfect for family gatherings. 3 comfortable rooms and a 4th room used as mother-in-law with all its conditions, and even updated baths are just a few of the features to appreciate. Sliding doors in the combo kitchen/dining room will lead you to your backyard oasis. An oversized garage with storage and workbench, a large laundry room, as well as stand-alone storage shed. New A/C 2018, new water heater 2018, new pool enclosure screening 2018 with installed pavers. Relax, unwind, and cool off after work, or keep the little ones occupied during this pandemic in your very own pool with large screened enclosure. Fresh paint, inside and out; and more! No HOA, NO FLOOD ZONE. MOVE-IN READY, Just on time for the New Year!

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: Ridge Crest Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k238k

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

Neighborhood: Ridge Crest Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6041590

* 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
Calusa Elementary School Primary Regular 589 42 2
Chasco Middle School Middle Regular 692 47 5
Ridgewood High School High Regular 1,133 73 3

Calusa Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 42
2
GreatSchools Rating

Chasco Middle School

  • Education Level: Middle
  • # of students: 692
  • # of teachers: 47
5
GreatSchools Rating

Ridgewood High School

  • Education Level: High
  • # of students: 1,133
  • # of teachers: 73
3
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$848
Property Tax -$256
Property Insurance -$129
Property Management Fees -$129
CASH FLOW
$98

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.

$229,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.3%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$29,602

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,222

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,045
1$1,0452$1,1253$1,1654$1,4005$1,460
$1,460
RENT COMPS ANALYSIS
  • 6509 Ridge Crest Dr Port Richey, FL 5
    • 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.92
    •  
  • 8742 Roble Way Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1976
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.75
    •  
  • 6347 Nearco Dr Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1970
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.80
    •  
  • 6810 El Camino Paloma Ave Port Richey, FL 3
    • 4 beds 2 baths ∙ 1,498 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,498 Sqft ∙ Built 1972
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,165
    • $0.78
    •  
  • 6510 Ridge Crest Dr Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1977
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.74
    •  
PROPERTY LISTING DETAILS
Farasley Ramirez Labrada
1.813.389.1489
Jpt Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3280278
Last Updated: 12/12/2020
BESbswy