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6517 Cardinal Crest Dr New Port Richey, FL 34655

3 Beds 2 Baths 2,028 sqft Built 1999

$339,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $167.16
  • 8 Days on Market
  • MLS # : W7830851
  • Updated Date : 02/15/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,028 sqft
  • Baths : 2 full
Listing Agent

Re/max Marketing Specialists

Listing Agent's Description

If you are looking to live in a peaceful quiet neighborhood but like the enjoyment of an active community, then this is the home for you. Nestled in the Wilderness village section of Timber Greens , this 3 bedroom, 2 bath, 2 car garage home backs up to the Starkey Park reserve in a serene setting. Enjoy your morning coffee on the newly paved pool deck overlooking the park. The roof on this Eldorado floor plan was replaced in 2019 and the home has a fresh coat of trim paint. If amenities are what you are looking for Timber Greens has them all. Play golf on the par 71 championship golf course, or enjoy participating in the tennis, bocce, or pickle ball leagues. If swimming and pool relaxation is what you are looking for Timber greens has that also. The 19th hole bar and grill is the place to enjoy lunch, dinner, or just a cool drink by the pool. Come and join the fun!!

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: Timber Greens

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $71k343k

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

Neighborhood: Timber Greens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8252007

* 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
Deer Park Elementary School Primary Regular 577 48 7
River Ridge Middle School Middle Regular 1,118 78 7
River Ridge High School High Regular 1,536 89 7

Deer Park Elementary School

  • Education Level: Primary
  • # of students: 577
  • # of teachers: 48
7
GreatSchools Rating

River Ridge Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 78
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,536
  • # of teachers: 89
7
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,177
Property Tax -$379
Property Insurance -$154
HOA -$190
Property Management Fees -$129
CASH FLOW
-$130

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.

$339,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$12,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6954$1,7005$1,900
$1,900
RENT COMPS ANALYSIS
  • 6517 Cardinal Crest Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 9132 Remington Dr New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1987
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 6088 Fall River Dr New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 9321 Bearcat Rd New Port Richey, FL 3
    • 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1995
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 6214 Clark Lake Dr New Port Richey, FL 4
    • 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,166 Sqft ∙ Built 1996
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
PROPERTY LISTING DETAILS
Devin Dahlgren
1.727.505.2014
Re/max Marketing Specialists
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830851
Last Updated: 02/15/2021
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