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7835 Barclay Rd New Port Richey, FL 34654

3 Beds 2 Baths 1,420 sqft Built 2001

INVESTimate

$219,000

List Price

$1,290

$1,161 - $1,419

Rent Est.

$238,688  ( +8.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $154.23
  • 4 Days on Market
  • MLS # : U8095103
  • Updated Date : 08/24/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Welcome to the Oaks at River Ridge. This beautiful 3 bedroom, 2 bathroom home is move in ready with an additional bonus room that can be used as a forth bedroom, den or office. The updated kitchen includes granite countertops, stainless steel appliances, tile flooring, pantry and a breakfast bar to enjoy. The open floor plan offers easy access to the dining and living room with vaulted ceilings and wood style laminate flooring throughout. Sliders lead out to a private screened covered patio with no rear neighbors for privacy and a fenced backyard with pavered area and fire pit perfect for year-round entertaining. The master suite offers a walk-in closet, vaulted ceilings, updated master bath with granite countertops and a tiled shower. The second bath is also updated with granite countertops, tile backsplash and tiled tub/shower. There is a spacious indoor utility room with sink and plenty of storage. The washer and dryer that are included were purchased in 2016. Additional features include ceiling fans throughout, 2 year old AC, and 2016 hot water heater. This charming home also offers a community pool for your enjoyment! Conveniently located near great shopping, great schools, amenities and just minutes from Starky Park.

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: The Oaks at River Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $71k343k

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

Neighborhood: The Oaks at River Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7692007

* 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
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

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-$2.0k$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$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$808
Property Tax -$245
Property Insurance -$119
HOA -$70
Property Management Fees -$80
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.

$219,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 8.99%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$15,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,292

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,3003$1,3004$1,3495$1,449
$1,449
RENT COMPS ANALYSIS
  • 7835 Barclay Rd New Port Richey, 1
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.91
    •  
  • 7941 Clarendon Dr New Port Richey, 2
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1986
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 10944 Kenmore Dr New Port Richey, 3
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1995
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.91
    •  
  • 8111 Hathaway Dr New Port Richey, 4
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1988
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.90
    •  
  • 11008 Millbury Ct New Port Richey, 5
    • 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
    •  
PROPERTY LISTING DETAILS
John Arata
1.727.512.2261
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8095103
Last Updated: 08/24/2020
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