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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $136.48
- 5 Days on Market
- MLS # : W7830259
- Updated Date : 01/28/2021 at 01:26
CONSTRUCTION
- Beds : 3
- Floor Size : 1,940 sqft
- Baths : 2 full
Listing Agent
Re/max Advantage Realty
Listing Agent's Description
Don't sleep on this one folks! This wonderful 3/2/2 home with great room floor plan boasts a massive 1,940 sqft of living with Kitchen/Family combo with a wood burning fireplace. The Kitchen features a skylight and newer stainless appliances. Through the sliders is a oversized covered/screened porch to a large backyard with PVC fence... very peaceful and quite. This home features a split floor plan, private living or dining room with wood laminate. Tile throughout and carpet in the bedrooms, Master bedroom is its own suite with walk in closet, double sinks and shower. Inside laundry room with wash sink. The entry features double wood doors and a lovely covered patio. Sinkhole repaired in 2010 and completely insurable.
SEE MORE
- #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: The Glen at River Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Glen at River Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,560 |
| EXPENSES | Loan Payment | -$920 |
| Property Tax | -$296 | |
| Property Insurance | -$149 | |
| HOA | -$34 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
$32
|
||
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.
$264,777
PROJECTED PRICE
$1,560
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.27% |
| Appreciation Year (1-5) | 6.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.26% |
| 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
$75,916
LOAN DETAILS
$920
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $66,194 |
| Loan Amount | $198,583 |
7.17
YEARS SAVED
$22,576
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,560
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$1,722
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
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11008 Millbury Ct New Port Richey, FL 1
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LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,550
- $0.90
-
11526 Leda Ln New Port Richey, FL 4
- 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 2003
LEASED 04/17/20- Rent
- Rent Per SQFT
- $1,565
- $0.89
-
6088 Fall River Dr New Port Richey, FL 5
- 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1988
LEASED 07/05/20- Rent
- Rent Per SQFT
- $1,595
- $0.86
PROPERTY LISTING DETAILS
1.727.480.5005
Re/max Advantage Realty
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: W7830259
Last Updated: 01/28/2021
