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6634 Batea Ter New Port Richey, FL 34653

3 Beds 1 Baths 880 sqft Built 1969

$125,000

List Price

$960

$864 - $1.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $142.05
  • 3 Days on Market
  • MLS # : T3286267
  • Updated Date : 01/22/2021 at 22:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 880 sqft
  • Baths : 1 full
Listing Agent

Graystone Real Estate

Listing Agent's Description

Lovely 3 bedroom 1 bath home in New Port Richey - Do not miss out on the opportunity to rent this lovely 3 bedroom home. This home has been given a fresh coat of paint and has wood laminate though out main living areas and bedrooms. This home also features a one car garage and a spacious yard.

SEE MORE

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: Hilltop Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $43k238k

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

Neighborhood: Hilltop Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5451590

* 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
 

$112,500$137,500$125,000

PURCHASE PRICE

$864$1,056$960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $960
EXPENSES Loan Payment -$434
Property Tax -$140
Property Insurance -$87
Property Management Fees -$129
CASH FLOW
$170

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.

$125,000

PROJECTED PRICE

$960

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 9.7%
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$100k$200k$300k$400k$500k$600k

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$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,875

INVESTMENT

$38,875

Down Payment
$31,250
Rehab Estimate
$5,750
Closing Costs
$1,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$434

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $31,250
Loan Amount $93,750
See What Happens When You Reinvest Cash Flow

12.5

YEARS SAVED

$24,219

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $960

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $805

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$9503$9604$9905$1,100
$1,100
RENT COMPS ANALYSIS
  • 6634 Batea Ter New Port Richey, FL 3
    • 3 beds 1 baths ∙ 880 Sqft ∙ Built 1969 3 beds 1 baths ∙ 880 Sqft ∙ Built 1969
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $960
    • $1.09
    •  
  • 7253 Cedar Point Dr New Port Richey, FL 1
    • 3 beds 2 baths ∙ 970 Sqft ∙ Built 1962 3 beds 2 baths ∙ 970 Sqft ∙ Built 1962
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.92
    •  
  • 6021 Antrim St New Port Richey, FL 2
    • 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1959
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.92
    •  
  • 7330 Kildare St New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,092 Sqft ∙ Built 1972
    property image
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $990
    • $0.91
    •  
  • 9011 Saint Clair Ln Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1978
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
Nadia Daggett
1.813.527.1030
Graystone Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3286267
Last Updated: 01/22/2021
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