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7204 Ivanhoe Dr Port Richey, FL 34668

3 Beds 2 Baths 1,594 sqft Built 1973

INVESTimate

$149,900

List Price

$1,360

$1,224 - $1,496

Rent Est.

$169,837  ( +13.30%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $94.04
  • 2 Days on Market
  • MLS # : W7825998
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,594 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage Realty

Listing Agent's Description

OPPORTUNITY KNOCKS! 3 bedroom 2 bathroom 2 car garage home located in Embassy Hills. This spacious home has large bedrooms and a privacy fenced backyard. This home has just under 1600 square feet of living area and laminate wood flooring/ceramic tile in the living areas. OWNER FINANCING AVAILABLE WITH 20% DOWN.

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
Chasco Elementary School Primary Regular 696 61 2
Chasco Middle School Middle Regular 692 47 5
Ridgewood High School High Regular 1,133 73 3

Chasco Elementary School

  • Education Level: Primary
  • # of students: 696
  • # of teachers: 61
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
 

$134,910$164,890$149,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

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$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$553
Property Tax -$167
Property Insurance -$129
Property Management Fees -$80
CASH FLOW
$431

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.

$149,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.91%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.30%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

17.08

YEARS SAVED

$49,823

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2493$1,2504$1,3605$1,450
$1,450
RENT COMPS ANALYSIS
  • 7204 Ivanhoe Dr Port Richey, 4
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.85
    •  
  • 7404 Westcott Dr Port Richey, 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1974
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.76
    •  
  • 9421 Barnstead Ln Port Richey, 2
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1989
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.83
    •  
  • 6920 Tierra Verde St Port Richey, 3
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 7531 Culberson Dr Port Richey, 5
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1979
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Laura Varner
1.352.585.6317
Re/max Advantage Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7825998
Last Updated: 08/26/2020
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