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7924 Tropicana Dr Port Richey, FL 34668

3 Beds 2 Baths 1,286 sqft Built 1970

$179,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $139.89
  • 3 Days on Market
  • MLS # : U8107878
  • Updated Date : 12/19/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,286 sqft
  • Baths : 2 full
Listing Agent

Premier Realty Consultants

Listing Agent's Description

This is truly a move in ready home where the owner's upgrades and attention to the details makes this property head and shoulders above most other comparable homes. Most everything has been upgraded such as; windows throughout, exterior doors, interior doors and wood work, electrical fixtures as well as new service panel, new Rheem water heater, new laundry sink, fully remodeled kitchen with large stainless sink, soft close cabinets, granite countertops, upgraded appliances, all new flooring including 12MM Laminate and tile in the bathrooms. Both bathrooms have been completely upgraded. The oversized corner lot includes a fully fenced and gated back yard including a large screened in patio. The entire yard has a fully functional sprinkler system which is evident by the beautiful lawn. Roof was replaced in 2009 and A/C is a 2012 model.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Jasmine Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $45k238k

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

Neighborhood: Jasmine Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5901590

* 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
Schrader Elementary School Primary Regular 599 47 3
Bayonet Point Middle School Middle Regular 708 50 3
Fivay High School High Regular 1,320 81 4

Schrader Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 47
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
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$664
Property Tax -$200
Property Insurance -$111
Property Management Fees -$129
CASH FLOW
$166

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.

$179,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 12.8%
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$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$32,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,132

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1953$1,2654$1,2705$1,285
$1,285
RENT COMPS ANALYSIS
  • 7924 Tropicana Dr Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,286 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.99
    •  
  • 7526 Coventry Dr Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1971
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.87
    •  
  • 10814 Kingsbridge Rd Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1972
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.86
    •  
  • 7511 Birchwood Dr Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1972
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.90
    •  
  • 7820 Chalafonte Dr Port Richey, FL 5
    • 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
    •  
PROPERTY LISTING DETAILS
Marty Zachrison
1.701.320.3493
Premier Realty Consultants
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8107878
Last Updated: 12/19/2020
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