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7004 Ivanhoe Dr Port Richey, FL 34668

3 Beds 2 Baths 1,378 sqft Built 1977

$195,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $141.51
  • 3 Days on Market
  • MLS # : W7831511
  • Updated Date : 03/12/2021 at 22:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,378 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This beautiful home at Embassy Hills is well maintained and updated. As soon as you enter your new home you will see the open plan and find 3 bedrooms 2 full baths and open airy spaces. The well planned Kitchen is on the right hand and at the end you will find the laundry room on the right and the utility room on the left with access to your large fenced back yard with plenty of space to enjoy with your family and friends. This home also have a big storage space. This home features updated wood like tile flooring, epoxy countertops in kitchen, newer vanities, ROOF 2019, AC 2019. Come and see this great opportunity! Pictures are coming soon.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Embassy Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Embassy Hills

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
Gulf Highlands Elementary School Primary Regular 578 43 3
Chasco Middle School Middle Regular 692 47 5
Ridgewood High School High Regular 1,133 73 3

Gulf Highlands Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 43
3
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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$677
Property Tax -$217
Property Insurance -$116
Property Management Fees -$129
CASH FLOW
$190

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.

$195,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.3%
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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

11

YEARS SAVED

$31,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,326

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2453$1,3004$1,3255$1,330
$1,330
RENT COMPS ANALYSIS
  • 7004 Ivanhoe Dr Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.97
    •  
  • 7411 Moravian Dr Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,294 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,294 Sqft ∙ Built 1974
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 7034 Coral Reef Dr Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1973
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.94
    •  
  • 7421 Ingleside Dr Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 1976
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.99
    •  
  • 9204 Lido Ln Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1974
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jesus Van Der Henst
1.727.772.0772
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7831511
Last Updated: 03/12/2021
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