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8234 Night Owl Ct New Port Richey, FL 34655

5 Beds 3 Baths 2,213 sqft Built 2003

$305,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $137.82
  • 5 Days on Market
  • MLS # : T3281978
  • Updated Date : 12/26/2020 at 13:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,213 sqft
  • Baths : 2 full , 1 half
Listing Agent

Soldbot Inc.

Listing Agent's Description

BEAUTIFUL SPACIOUS MOVE IN READY 5 Bdrm Family HOME in a Cul-de Sac. New grout throughout downstairs travertine floors. Clean Fresh paint inside of home. Large Master Bedroom and Master Bathroom with walk-in shower with seamless glass door. Granite and Marble in Bathrooms, Kitchen and window sills. Huge enclosed Lanai and a hot tub. Great Location close to school and Trinity Shopping center and Walmart. This is a must see won't 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: Hunting Creek

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $71k260k

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

Neighborhood: Hunting Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8251759

* 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
Seven Springs Elementary School Primary Regular 513 37 3
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Seven Springs Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 37
3
GreatSchools Rating

Seven Springs Middle School

  • Education Level: Middle
  • # of students: 1,442
  • # of teachers: 88
9
GreatSchools Rating

James W. Mitchell High School

  • Education Level: High
  • # of students: 1,892
  • # of teachers: 117
7
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,125
Property Tax -$341
Property Insurance -$165
HOA -$19
Property Management Fees -$129
CASH FLOW
$111

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.

$305,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.27%
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

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$38,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,887

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8904$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 8234 Night Owl Ct New Port Richey, FL 3
    • 5 beds 3 baths ∙ 2,213 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,213 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.85
    •  
  • 3624 Hunting Creek Loop New Port Richey, FL 1
    • 4 beds 3 baths ∙ 2,213 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,213 Sqft ∙ Built 2005
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 2721 Manning Dr Trinity, FL 2
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 2818 Manning Dr Trinity, FL 4
    • 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,153 Sqft ∙ Built 2004
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 2623 Palesta Dr New Port Richey, FL 5
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kevin Gioia
1.619.609.0450
Soldbot Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3281978
Last Updated: 12/26/2020
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