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7330 Palimino Dr Port Richey, FL 34668

3 Beds 2 Baths 1,351 sqft Built 1978

$194,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $144.26
  • 2 Days on Market
  • MLS # : W7828429
  • Updated Date : 11/15/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,351 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

COME LIVE THE FLORIDA LIFESTYLE!! 3/2. Beautifully updated home. There is excellent attention to detail in this home. This home features a custom kitchen with exotic granite counter tops, large breakfast bar, white shaker cabinets, new stainless steel appliance package, high-end fixtures, and recessed lighting. The main living area has beautiful waterproof weathered grey wood/vinyl floors. Both gorgeous bathrooms have marble counter tops, wood vanities, high-end fixtures and 18"x18" porcelain tile. The showers have Porcelain tile with marble accented inlays and high-end fixtures. This home has a lot of attention to detail with 6-panel doors, 5 1/4 in. baseboards, new window treatments, neutral carpet in bedrooms, ceiling fans and fresh new paint inside and out. The roof on this home is new(2020). The front yard is freshly landscaped with fresh sod, plants and mulch. The sprinkler system has a new timer. It is a MUST SEE. DON'T MISS THIS ONE

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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: 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
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$719
Property Tax -$217
Property Insurance -$115
Property Management Fees -$80
CASH FLOW
$119

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.

$194,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.64%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$29,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,243

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1003$1,2454$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 7330 Palimino Dr Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 9125 Hermitage Ln Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 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 3
    • 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
    •  
  • 7414 Bimini Dr Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1980
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
Michael Twyman
1.727.946.4433
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828429
Last Updated: 11/15/2020
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