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7534 Greybirch Ter Port Richey, FL 34668

3 Beds 2 Baths 1,773 sqft Built 1981

$184,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $104.29
  • 2 Days on Market
  • MLS # : W7828081
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 2 full
Listing Agent

Re/max Sunset Realty

Listing Agent's Description

Immaculate 3 bedroom/2 bath/1 garage home for sale in affordable Palm Terrace Gardens. This move in ready home features an open floor plan with a rare kitchen/dinette/living/family room combination,. The spacious updated kitchen offers solid wood cabinets, granite counter tops, stainless steel appliances, and breakfast bar. Master Bedroom offers private bathroom with walk-in closets in all bedrooms. The family room and large 2nd bedroom both offer easy access to the backyard area, where barbequing and entertainment can be enjoyed or just relaxing under a cozy covered patio with concrete pavers. There is a 8’x10’ shed for your storage needs, along with a low maintenance yard…Great investment opportunity with immediate income, whereas the Seller is willing to lease this home for 1 year after sale of this property…

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: Palm Terrace Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $47k238k

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

Neighborhood: Palm Terrace Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6251590

* 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
 

$166,410$203,390$184,900

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 -$682
Property Tax -$206
Property Insurance -$139
Property Management Fees -$80
CASH FLOW
$143

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.

$184,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 10.3%
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$100k$200k$300k$400k$500k$600k$700k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,749

INVESTMENT

$54,749

Down Payment
$46,225
Rehab Estimate
$5,750
Closing Costs
$2,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,225
Loan Amount $138,675
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$30,247

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
  • $0.71

    LIST RENT PER SQFT
  • $1,254

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1503$1,2254$1,2505$1,300
$1,300
RENT COMPS ANALYSIS
  • 7534 Greybirch Ter Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.71
    •  
  • 11205 Snyder Ave Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1977
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.71
    •  
  • 7605 Greybirch Ter Port Richey, FL 2
    • 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 1980
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.66
    •  
  • 7611 Tyson Dr Port Richey, FL 3
    • 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
    •  
  • 11234 Linden Ln Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1977
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
PROPERTY LISTING DETAILS
Frank Fekete, Llc
1.727.534.4871
Re/max Sunset Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828081
Last Updated: 11/03/2020
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