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7424 Swan Lake Dr New Port Richey, FL 34655

3 Beds 2 Baths 1,220 sqft Built 1989

$253,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $207.38
  • 6 Days on Market
  • MLS # : U8106762
  • Updated Date : 12/08/2020 at 21:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,220 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

One or more photo(s) has been virtually staged. This charming and immaculate 3/2 pool home in New Port Richey is located in a beautiful, well established Nature’s Hideaway and is move-in ready. Imagine yourself enjoying the cooler evenings relaxing with your favorite beverage on the swing on the screened front porch. Saltillo tile floors throughout as well as a fresh coat of paint, impact rated windows, 2018 roof and 2018 AC add to the appeal of this well maintained home. The eat-in kitchen has a bay window, vaulted ceilings with wood details, a beautiful tile backsplash and a pantry. The spacious family room overlooks the large lanai, screened pool, 8 seater spa and fenced in yard. Curl up with your favorite book on the window seat in the master bedroom which also features a walk-in closet and a large bathroom with separate water closet and walk-in shower. The 2 guestrooms have ample closet space and the guest bath has been updated with oil rubbed bronze fixtures. The 2 car garage is located off of the kitchen for easy loading and unloading and has loads of built in storage. A must see!

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: Natures Hideaway

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $71k343k

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

Neighborhood: Natures Hideaway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8252007

* 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
Trinity Oaks Elementary School Primary Regular 717 55 7
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Trinity Oaks Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 55
7
GreatSchools Rating

Seven Springs Middle School

  • Education Level: Middle
  • # of students: 1,442
  • # of teachers: 88
9
GreatSchools Rating

James W. Mitchell High School

  • Education Level: High
  • # of students: 1,892
  • # of teachers: 117
7
GreatSchools Rating
 

$227,700$278,300$253,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$933
Property Tax -$283
Property Insurance -$107
HOA -$33
Property Management Fees -$129
CASH FLOW
-$25

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.

$253,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
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-$2.0k$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$72,795

INVESTMENT

$72,795

Down Payment
$63,250
Rehab Estimate
$5,750
Closing Costs
$3,795

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,250
Loan Amount $189,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$20,602

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,089

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2503$1,2954$1,3505$1,460
$1,460
RENT COMPS ANALYSIS
  • 7424 Swan Lake Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.20
    •  
  • 7315 Fullerton Ct New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 1976
    LEASED 08/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.89
    •  
  • 7620 Cleves Ave New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1983
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 3519 Murrow St New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1979
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.87
    •  
  • 3544 Gorman Dr New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1973
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
PROPERTY LISTING DETAILS
Martha Thorn
1.727.432.9019
Coldwell Banker Residential
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8106762
Last Updated: 12/08/2020
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