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8650 Vixen Ln Port Richey, FL 34668

3 Beds 2 Baths 1,200 sqft Built 1980

$154,900

List Price

$1,000

$900 - $1.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $129.08
  • 4 Days on Market
  • MLS # : W7831355
  • Updated Date : 03/04/2021 at 14:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Figrey&sonres

Listing Agent's Description

This beautifully updated 3 Bedroom 1.5 Bathroom house boasts 1200 square feet of living space and is located in the desirable community of Bear Creek. The home has been tastefully updated with newer kitchen cabinets, laminate flooring throughout the main living space, and beautiful French doors leading out to a bonus room. There are two additional bonus rooms / storage areas that could possibly be used as a 4th and 5th bedroom! The spacious backyard is fenced and there is a covered back porch perfect for gatherings with family / friends. Irrigation has been setup for landscaping in the front of the home. No HOA! Close to schools, shopping & medical facilities.

SEE MORE

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: Bear Creek

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Bear Creek

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
 

$139,410$170,390$154,900

PURCHASE PRICE

$900$1,100$1,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,000
EXPENSES Loan Payment -$538
Property Tax -$172
Property Insurance -$106
Property Management Fees -$129
CASH FLOW
$55

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.

$154,900

PROJECTED PRICE

$1,000

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,799

INVESTMENT

$46,799

Down Payment
$38,725
Rehab Estimate
$5,750
Closing Costs
$2,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,725
Loan Amount $116,175
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$15,526

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,000

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,086

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0503$1,1504$1,2455$1,350
$1,350
RENT COMPS ANALYSIS
  • 8650 Vixen Ln Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.83
    •  
  • 8832 Huntsman Ln Port Richey, FL 2
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1986
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.95
    •  
  • 11722 Oceanside Dr Port Richey, FL 3
    • 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,310 Sqft ∙ Built 1979
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.88
    •  
  • 7901 Ironbark Dr Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1979
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.85
    •  
  • 11133 Salt Tree Dr Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1977
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.94
    •  
PROPERTY LISTING DETAILS
Matt Krupski
1.727.514.2510
Coldwell Banker Figrey&sonres
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7831355
Last Updated: 03/04/2021
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