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7250 Cedar Point Dr New Port Richey, FL 34653

3 Beds 2 Baths 1,048 sqft Built 1964

$149,000

List Price

$970

$873 - $1.1K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $142.18
  • 4 Days on Market
  • MLS # : W7829274
  • Updated Date : 12/18/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,048 sqft
  • Baths : 1 full , 1 half
Listing Agent

Future Home Realty Inc

Listing Agent's Description

This home has three bedrooms and one and a half bath, all tiled flooring, new interior paint, and a one car garage. You could make this three bedroom home into a two plus den, office, or family room with exterior access. All bedrooms have ceiling fans and cedar lined closets. The Livingroom has tiled plank floors, ceiling fan and built in shelving. In the garage is the 2nd bathroom with shower and laundry area. Beautiful oak kitchen cabinets, stainless steel double sink, great bright kitchen window overlooks the back yard. The shed is included and the large yard has chain link fencing a cement patio for relaxing or having a cookout. No Flood insurance needed! The air conditioner and roof were replaced recently. Centrally located near Little Road and Rowen, public transportation, parks, beaches, places of worship, downtown New Port Richey where there is so much to do including a water park, shopping, outdoor dining with sidewalk cafes and much more!

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: Lakewood Villas

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Lakewood Villas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5961590

* 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
Cotee River Elementary School Primary Regular 613 57 3
Gulf Middle School Middle Regular 704 51 4
Gulf High School High Magnet 1,191 89 5

Cotee River Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 57
3
GreatSchools Rating

Gulf Middle School

  • Education Level: Middle
  • # of students: 704
  • # of teachers: 51
4
GreatSchools Rating

Gulf High School

  • Education Level: High
  • # of students: 1,191
  • # of teachers: 89
5
GreatSchools Rating
 

$134,100$163,900$149,000

PURCHASE PRICE

$873$1,067$970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $970
EXPENSES Loan Payment -$550
Property Tax -$167
Property Insurance -$97
Property Management Fees -$129
CASH FLOW
$28

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.

$149,000

PROJECTED PRICE

$970

PROJECTED RENT

0.65%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,235

INVESTMENT

$45,235

Down Payment
$37,250
Rehab Estimate
$5,750
Closing Costs
$2,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,250
Loan Amount $111,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$15,302

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $970

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $969

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$895
1$8952$9353$9704$1,2005$1,260
$1,260
RENT COMPS ANALYSIS
  • 7250 Cedar Point Dr New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,048 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $970
    • $0.93
    •  
  • 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
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.92
    •  
  • 7135 Aurora Dr New Port Richey, FL 2
    • 3 beds 1 baths ∙ 1,012 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,012 Sqft ∙ Built 1979
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $935
    • $0.92
    •  
  • 7512 Betula Dr New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1972
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 7708 Cumber Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1972
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.95
    •  
PROPERTY LISTING DETAILS
Gail Small
1.727.455.3057
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7829274
Last Updated: 12/18/2020
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