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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lakewood Villas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$45,235
LOAN DETAILS
$550
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $37,250 |
| Loan Amount | $111,750 |
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
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- 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
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7708 Cumber Dr New Port Richey, FL 5
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LEASED 10/01/19- Rent
- Rent Per SQFT
- $1,260
- $0.95
PROPERTY LISTING DETAILS
1.727.455.3057
Future Home Realty Inc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: W7829274
Last Updated: 12/18/2020
