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7850 Portrait Ct New Port Richey, FL 34654

4 Beds 3 Baths 2,290 sqft Built 2002

$300,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $131.00
  • 3 Days on Market
  • MLS # : T3280471
  • Updated Date : 01/09/2021 at 15:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,290 sqft
  • Baths : 3 full
Listing Agent

Frank Albert Realty

Listing Agent's Description

**MULTIPLE OFFERS RECEIVED** **PLEASE SEND YOUR HIGHEST AND BEST OFFERS BY 7 PM ON SATURDAY 1/9** Located in the very desirable and tranquil River Ridge Community, this beautiful turnkey home can be yours TODAY! Just minutes away from A-rated schools, shopping, and River Ridge Golf Club, this location will not last long. With nearby outdoor trails and wilderness preserve, enjoy the quiet nature sounds without sacrificing the convenience of nearby necessities. Have one of the largest oversized lot in the area and soak up the Florida sun by your private pool, this is Florida living at its finest. The combination of the open floor plan, natural light, and spacious rooms make this home perfect for just about anyone. Enjoy the sunset under the lanai without the noise of the city, this location is second to none! At only 300k, it is ready for a new Homeowner. Easy to show, come and see what this home has to offer!

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: Rosewood at River Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $71k343k

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

Neighborhood: Rosewood 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,042
Property Tax -$352
Property Insurance -$170
HOA -$40
Property Management Fees -$129
CASH FLOW
$258

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.

$300,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.1%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$47,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,9853$1,9904$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 7850 Portrait Ct New Port Richey, FL 3
    • 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,290 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.87
    •  
  • 11246 Oyster Bay Cir New Port Richey, FL 1
    • 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2006
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 11246 Ragsdale Ct New Port Richey, FL 2
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2006
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.88
    •  
  • 12338 Eclipse Ct New Port Richey, FL 4
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 2003
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.88
    •  
  • 11453 Belle Haven Dr New Port Richey, FL 5
    • 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Tanya Henry
1.813.546.2144
Frank Albert Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3280471
Last Updated: 01/09/2021
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