Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7627 Limington Dr Port Richey, FL 34668

2 Beds 2 Baths 1,030 sqft Built 1989

$139,900

List Price

$950

$855 - $1K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $135.83
  • 8 Days on Market
  • MLS # : T3271759
  • Updated Date : 10/29/2020 at 11:08
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,030 sqft
  • Baths : 2 full
Listing Agent

Star Bay Realty Corp.

Listing Agent's Description

WE HAVE MULTIPLE OFFERS. PLEASE PRESENT HIGHEST AND BEST OFFERS. SELLER WILL DECIDE END OF DAY FRIDAY 10/30/2020 Tastefully REMODELED DREAM HOME!!!!! Open floor plan perfect for entertaining! NEW ROOF/ NEW AC!!!! FRESH PAINT INSIDE AND OUT!!! Updated electrical and plumbing fixtures! Beautiful flooring thru out the entire home including updated laminate wood and Custom ceramic tile!!!! The eat-in kitchen is a chef’s delight, with solid wood cabinets and counter tops, and new appliance package! Fully updated bath! Walk out back to your private yard. Located in the heart of Pasco County with close access to everything the area has to offer! Hurry, this will not last long!!!!!!!

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: Regency Park

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $46k238k

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

Neighborhood: Regency Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6281590

* 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
Fox Hollow Elementary School Primary Regular 565 44 3
Bayonet Point Middle School Middle Regular 708 50 3
Ridgewood High School High Regular 1,133 73 3

Fox Hollow Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 44
3
GreatSchools Rating

Bayonet Point Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 50
3
GreatSchools Rating

Ridgewood High School

  • Education Level: High
  • # of students: 1,133
  • # of teachers: 73
3
GreatSchools Rating
 

$125,910$153,890$139,900

PURCHASE PRICE

$855$1,045$950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $950
EXPENSES Loan Payment -$516
Property Tax -$156
Property Insurance -$96
Property Management Fees -$80
CASH FLOW
$102

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.

$139,900

PROJECTED PRICE

$950

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 10.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,824

INVESTMENT

$42,824

Down Payment
$34,975
Rehab Estimate
$5,750
Closing Costs
$2,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$516

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $34,975
Loan Amount $104,925
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$22,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $950

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $935

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9503$1,0504$1,1005$1,100
$1,100
RENT COMPS ANALYSIS
  • 7627 Limington Dr Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,030 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,030 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.92
    •  
  • 9121 Chantilly Ln Port Richey, FL 1
    • 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,032 Sqft ∙ Built 1978
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.92
    •  
  • 7124 Castanea Dr Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1974
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.91
    •  
  • 9125 Hermitage Ln Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 9011 Saint Clair Ln Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1978
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
David O'brien
1.813.361.0001
Star Bay Realty Corp.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3271759
Last Updated: 10/29/2020
BESbswy