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7431 Sheldrake St New Port Richey, FL 34654

3 Beds 2 Baths 1,940 sqft Built 1991

$264,777

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
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

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: The Glen at River Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $71k343k

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

Neighborhood: The Glen at River Ridge

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
Cypress Elementary School Primary Regular 795 54 4
River Ridge Middle School Middle Regular 1,118 78 7
River Ridge High School High Regular 1,536 89 7

Cypress Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 54
4
GreatSchools Rating

River Ridge Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 78
7
GreatSchools Rating

River Ridge High School

  • Education Level: High
  • # of students: 1,536
  • # of teachers: 89
7
GreatSchools Rating
 

$238,299$291,255$264,777

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$14k

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$75,916

INVESTMENT

$75,916

Down Payment
$66,194
Rehab Estimate
$5,750
Closing Costs
$3,972

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,194
Loan Amount $198,583
See What Happens When You Reinvest Cash Flow

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
$1,449
1$1,4492$1,5503$1,5604$1,5655$1,595
$1,595
RENT COMPS ANALYSIS
  • 7431 Sheldrake St New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.80
    •  
  • 11008 Millbury Ct New Port Richey, FL 1
    • 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,605 Sqft ∙ Built 2000
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.90
    •  
  • 9543 Conservation Dr New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1997
    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
Casey Hayes
1.727.480.5005
Re/max Advantage Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7830259
Last Updated: 01/28/2021
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