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8325 Divot Way Port Richey, FL 34668

3 Beds 2 Baths 1,950 sqft Built 1980

$179,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $92.26
  • 6 Days on Market
  • MLS # : W7828099
  • Updated Date : 11/04/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,950 sqft
  • Baths : 2 full
Listing Agent

Re/max Sunset Realty

Listing Agent's Description

SPACIOUS HOME IN THE FOOTPRINT LAKE SECTION OF TIMBER OAKS. RESERVED FOR THOSE AGE 55 AND OVER THE COMMUNITY OFFERS A POOL AND CLUBHOUSE WITH SOCIAL EVENTS, BILLIARD ROOM AND MORE. THE HOME HAS A NEW HVAC SYSTEM, UPDATED KITCHEN WITH AN ABUNDANCE OF COUNTER SPACE AND CABINET STORAGE. THE KITCHEN ALSO PROVIDES A CLOSET PANTRY AND COUNTER BAR. THE BEDROOMS ARE ON A SPLIT FLOOR PLAN. THE MASTER SUITE HAS A WALK IN CLOSET AND THERE IS A WALK IN SHOWER IN THE MASTER BATH. THE LARGE FMAILY ROOM HAS PLENTY OF NATURAL LIGHT AND ACCESS TO THE BACK PATIO. THERE IS A FORMAL DINING ROOM OFF OF THE KITCHEN WHICH CAN BE USED AS A GREAT ROOM AREA COMBINED WITH THE KITCHEN. THE INSIDE LAUNDRY ROOM CREATES AN ACCESS TO THE KITCHEN. ROOM SIZES AND FRONT EXPOSURE ARE APPROXIMATE.

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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: Timber Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Timber Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6371590

* 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 -$201
Property Insurance -$150
HOA -$50
Property Management Fees -$80
CASH FLOW
$126

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) 11.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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 40% 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

9.42

YEARS SAVED

$27,188

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
  • $0.65

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2253$1,2704$1,3005$1,325
$1,325
RENT COMPS ANALYSIS
  • 8325 Divot Way Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.65
    •  
  • 11205 Snyder Ave Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1977
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.71
    •  
  • 7611 Tyson Dr Port Richey, FL 2
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1972
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.74
    •  
  • 11234 Linden Ln Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1977
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 11236 Yellowwood Ln Port Richey, FL 5
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 1975
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.69
    •  
PROPERTY LISTING DETAILS
Michael Gallo, Pa
1.727.271.2667
Re/max Sunset Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828099
Last Updated: 11/04/2020
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