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7927 Sycamore Dr New Port Richey, FL 34654

3 Beds 3 Baths 2,491 sqft Built 1995

INVESTimate

$385,000

List Price

$2,130

$1,917 - $2,343

Rent Est.

$399,938  ( +3.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $154.56
  • 8 Days on Market
  • MLS # : U8094872
  • Updated Date : 08/21/2020 at 11:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,491 sqft
  • Baths : 3 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Absolutely gorgeous 2 story pool home with breath taking views from every angle. A perfect home for the buyer who wants privacy (1.5 acres M/L). The first floor has an approximate 1000 Sq.Ft. garage (with heavy steel beams) and a separate entrance to the in-law suite with a kitchen, bath, and den inside laundry room. The 2nd floor has 3 bedrooms, 2 baths, a spacious living room with cathedral ceilings and custom marble fire place. Dining room and kitchen with a breakfast bar. Pool includes spill over jetted spa, two story screen enclosure 2001. Kitchen has Corian counter tops and custom maple cabinets. Home is on a well. Total square feet 4064 per tax record. New roof 4/2017 per permit record. A large 12 x 24 covered balcony off the dining room, another smaller one off the master and a rear exit with stairs leading to the screened pool and spa area. On warm summer days, enjoy a swim in the privacy of your own pool surrounded by natural beauty. Convenient location close to restaurants, stores, banks, schools. No flood insurance needed. No HOA! Don't miss out on this great buy!

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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: Tanglewood East

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $71k459k

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

Neighborhood: Tanglewood East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8252123

* 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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,420
Property Tax -$430
Property Insurance -$181
Property Management Fees -$80
CASH FLOW
$18

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.

$385,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.88%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$36,522

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,217

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,1303$2,700
$2,700
RENT COMPS ANALYSIS
  • 7927 Sycamore Dr New Port Richey, 2
    • 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.86
    •  
  • 11812 Tee Time Cir New Port Richey, 1
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2004
    property image
    LEASED 04/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 10901 Navajo Dr New Port Richey, 3
    • 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,800 Sqft ∙ Built 1981
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Renata Lagodzinski
1.727.271.5244
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8094872
Last Updated: 08/21/2020
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