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7927 Barclay Rd New Port Richey, FL 34654

3 Beds 2 Baths 1,278 sqft Built 1998

$205,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $160.41
  • 33 Days on Market
  • MLS # : T3279862
  • Updated Date : 01/09/2021 at 13:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,278 sqft
  • Baths : 2 full
Listing Agent

Mv Realty Pbc Llc

Listing Agent's Description

Very well maintained 3 bedroom/ 2 bath home with a two car garage and a brand new roof. This home is a perfect starter home for a new family in the neighborhood of River Ridge. The home is open and airy with a delightful screened patio on the back of the house. There is also a screened patio in the front of the house. There is community pool and a clubhouse to enjoy with family and friends. Walking distance to major shopping, restaurants and schools. Just a short ride to the famous Tarpon Springs Sponge Docks. This home 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: 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
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$712
Property Tax -$235
Property Insurance -$110
HOA -$66
Property Management Fees -$129
CASH FLOW
-$92

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.

$205,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 9.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$7,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,163

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,3003$1,3004$1,3495$1,449
$1,449
RENT COMPS ANALYSIS
  • 7927 Barclay Rd New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.91
    •  
  • 7941 Clarendon Dr New Port Richey, FL 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, FL 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, FL 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, FL 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
Slauka Bobrek
1.813.460.6119
Mv Realty Pbc Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3279862
Last Updated: 01/09/2021
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