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7235 Palisade Dr Port Richey, FL 34668

3 Beds 2 Baths 1,209 sqft Built 1969

$185,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $153.02
  • 3 Days on Market
  • MLS # : W7829145
  • Updated Date : 12/12/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,209 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty

Listing Agent's Description

WELCOME TO YOUR EXPERTLY REMODELED HOME at 7235 Palisade Dr, Port Richey in the Palm Terrace Estates subdivision in Pasco County, FL. This AMAZING home features 3 beds, 2 baths & 1-car attached garage. Your FABULOUS new home lies at the corner with NO HOA, NO CDD or NO FLOOD zone!! Key exterior features include double-pane, energy-efficient thermal windows, FRESH 2-tone paint, rain gutters, tropical landscaping, fenced along back perimeter, painted concrete driveway & walkways, brand new fancy mailbox, front covered patio & lovely screened lanai in the back. When you step inside through the lovely door with decorative oval glass insert, you will MARVEL at the OPEN CONCEPT FLOOR PLAN consisting of the kitchen, living, dining & family rooms. You'll LOVE the water-resistant vinyl floors, over 32 LED recessed lights throughout the home, custom 6" baseboards & COOL hues of light gray paint on the walls. The GOURMET kitchen features white cabinets with MODERN hardware & soft-close hinges, TIMELESS glass subway tile as backsplash, stainless steel appliances, farmhouse sink with gooseneck faucet, greenhouse-style kitchen planter window for growing herbs, HUGE center island & BEAUTIFUL granite counters. Natural SUNSHINE streams through the plentiful windows ILLUMINATING the BRIGHT & CHEERY interior. The custom window blinds on each window & the new windows keep energy costs way down. Off the kitchen is the French door leading to the screened lanai for TRUE INDOOR-OUTDOOR EXPERIENCE. The master bedroom can easily accommodate king size furniture & has private bath. The master bath consists of PORCELAIN tile floors, step-in shower with CLASSIC penny glass tile floor & CONTEMPORARY floating vanity. The hall bath has matching porcelain tile floors, subway-tiled shower/tub combo & matching vanity. In the attached garage, you'll find the laundry hookups, side door entrance & attic access. You will not find a COMPLETELY RENOVATED HOME like this in today's market at this price point. There is SO MUCH TO LOVE about this house! Close to amenities like restaurants, beaches, shopping plazas, medical facilities, airport, places of worship & tourist attractions, makes this location IDEAL! MAKE THIS YOUR FUTURE HOME!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Palm Terrace Estates

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $43k238k

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

Neighborhood: Palm Terrace Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5661590

* 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
Schrader Elementary School Primary Regular 599 47 3
Bayonet Point Middle School Middle Regular 708 50 3
Fivay High School High Regular 1,320 81 4

Schrader Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 47
3
GreatSchools Rating

Bayonet Point Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 50
3
GreatSchools Rating

Fivay High School

  • Education Level: High
  • # of students: 1,320
  • # of teachers: 81
4
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$683
Property Tax -$206
Property Insurance -$106
Property Management Fees -$129
CASH FLOW
-$34

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.

$185,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$12,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,082

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0903$1,1504$1,1955$1,265
$1,265
RENT COMPS ANALYSIS
  • 7235 Palisade Dr Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.90
    •  
  • 10614 Addison Dr Port Richey, FL 1
    • 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,050 Sqft ∙ Built 1962
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.95
    •  
  • 7526 Coventry Dr Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1971
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.87
    •  
  • 10814 Kingsbridge Rd Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1972
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.86
    •  
  • 7511 Birchwood Dr Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1972
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.90
    •  
PROPERTY LISTING DETAILS
Janina Wozniak
1.727.888.3889
Future Home Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7829145
Last Updated: 12/12/2020
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