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

7824 Burnham Dr Port Richey, FL 34668

3 Beds 2 Baths 1,448 sqft Built 1979

$210,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $145.03
  • 2 Days on Market
  • MLS # : W7831735
  • Updated Date : 03/14/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,448 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

A newly renovated house to call home. This open floor plan home features gorgeous new laminate flooring, a new kitchen with an island, granite countertops, and new cabinets. The bathrooms have been renovated with a modern touch. Including a newly installed ac nothing in this renovation was spared. With a fenced in backyard and a covered open patio, this home has plenty of room for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$729
Property Tax -$234
Property Insurance -$120
Property Management Fees -$129
CASH FLOW
$128

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.

$210,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.64%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$26,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,332

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,285
1$1,2852$1,3003$1,3404$1,3495$1,395
$1,395
RENT COMPS ANALYSIS
  • 7824 Burnham Dr Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.93
    •  
  • 7820 Chalafonte Dr Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1977
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.89
    •  
  • 7414 Potomac Dr Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1976
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 9421 Barnstead Ln Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1989
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.89
    •  
  • 9825 Sandstone Ln Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1976
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
PROPERTY LISTING DETAILS
Raquel Diaz
1.727.277.2295
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7831735
Last Updated: 03/14/2021
BESbswy