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8545 Wind Mill Dr New Port Richey, FL 34655

3 Beds 2 Baths 1,620 sqft Built 1982

$235,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $145.06
  • 2 Days on Market
  • MLS # : U8104506
  • Updated Date : 11/14/2020 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

Hard to find 3 bedroom, 2 bath, 2 car garage home in the highly desirable Greenbrook Estates subdivision. Open floor plan with a great room concept. All flooring is ceramic tile & wood with no carpeting. Split bedroom floor plan. Large master suite with a private bath & walk in closet. Large corner treed lot with a large screened covered patio. NEW ROOF & 2 CAR GARAGE door replaced in NOVEMBER 2020. No CDD fees & low HOA FEES for clubhouse & community pool. Great location to all conveniences. Much More!

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: Greenbrook Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $71k238k

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

Neighborhood: Greenbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8121594

* 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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$867
Property Tax -$263
Property Insurance -$130
HOA -$27
Property Management Fees -$80
CASH FLOW
$63

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.

$235,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 10.4%
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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,547

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4303$1,4504$1,4955$1,675
$1,675
RENT COMPS ANALYSIS
  • 8545 Wind Mill Dr New Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.88
    •  
  • 8126 Blue Finch Way New Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1979
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
  • 4143 Gray Squirrel Ln New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1978
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 8634 Wind Mill Dr New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1983
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 4400 Swallowtail Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1981
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.94
    •  
PROPERTY LISTING DETAILS
George Chiarenza
1.727.420.2230
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8104506
Last Updated: 11/14/2020
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