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7235 Mayfield Dr Port Richey, FL 34668

3 Beds 2 Baths 1,320 sqft Built 1974

$155,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $117.42
  • 2 Days on Market
  • MLS # : W7828070
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty

Listing Agent's Description

Don't miss this well maintained home inside & out starting with the new landscaping & newer windows. The home has been freshly painted with new carpeting & laminate flooring in the living room & dining room. There is a bonus room off of the dining room which could be used as a family room, office, or extra bedroom. The kitchen has newer stainless steel appliances. The back yard is spacious & fenced for privacy while sitting out on your lanai or by the fire pit on those cool evenings. This home is very conviently located by schools, shopping & resturants.

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: 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
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$572
Property Tax -$173
Property Insurance -$113
Property Management Fees -$80
CASH FLOW
$253

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.

$155,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.77%

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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

13.58

YEARS SAVED

$39,419

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,191

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1003$1,1904$1,2455$1,250
$1,250
RENT COMPS ANALYSIS
  • 7235 Mayfield Dr Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.90
    •  
  • 7124 Castanea Dr Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1974
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.91
    •  
  • 9011 Saint Clair Ln Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1978
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 7034 Coral Reef Dr Port Richey, FL 4
    • 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
    •  
  • 6920 Tierra Verde St Port Richey, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Kimberley Louwaert
1.800.921.1330
Future Home Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828070
Last Updated: 11/03/2020
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