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7431 Neva Ln Port Richey, FL 34668

3 Beds 2 Baths 1,674 sqft Built 1972

$179,900

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $107.47
  • 6 Days on Market
  • MLS # : W7830895
  • Updated Date : 02/20/2021 at 11:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,674 sqft
  • Baths : 2 full
Listing Agent

Century 21 Palm Realty

Listing Agent's Description

This 3 bedroom 2 bath has a 1 car garage and has over 1600 sqft. Walk into the Living room with laminate flooring. Kitchen with stainless steel appliances, and large dining room. Large master bedroom with master bath with a jacuzzi tub. The cozy family room has wood burning fireplace. the two other bedrooms are also very spacious. Located near schools, restaurants and more. Roof 2020 Come see this Home !

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Gulf Highlands

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k238k

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

Neighborhood: Gulf Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6021590

* 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
Gulf Highlands Elementary School Primary Regular 578 43 3
Bayonet Point Middle School Middle Regular 708 50 3
Fivay High School High Regular 1,320 81 4

Gulf Highlands Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 43
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
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$625
Property Tax -$200
Property Insurance -$134
Property Management Fees -$129
CASH FLOW
$82

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.

$179,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 11.2%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$19,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,205

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,075
1$1,0752$1,1253$1,1704$1,2255$1,250
$1,250
RENT COMPS ANALYSIS
  • 7431 Neva Ln Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.70
    •  
  • 7315 Seashore Dr Port Richey, FL 1
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1972
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,075
    • $0.71
    •  
  • 7414 Abalone Dr Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1972
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.67
    •  
  • 7611 Tyson Dr Port Richey, FL 4
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1972
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.74
    •  
  • 11020 Mckinley Dr Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1974
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.76
    •  
PROPERTY LISTING DETAILS
Deborah Roy, Pa
1.727.612.8757
Century 21 Palm Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830895
Last Updated: 02/20/2021
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