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9178 Remington Dr New Port Richey, FL 34655

4 Beds 3 Baths 2,707 sqft Built 1987

$365,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $134.84
  • 4 Days on Market
  • MLS # : O5902768
  • Updated Date : 11/02/2020 at 07:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,707 sqft
  • Baths : 3 full
Listing Agent

Beycome Of Florida Llc

Listing Agent's Description

High ceilings, newly rehabbed & plenty of light welcomes you to this spacious 4 bedroom, 3 bathroom (plus Loft) home with over 2,700 SF. It is located on an over-sized lot with a newer roof. As you walk in the entry, you are greeted by the vaulted ceilings of the Formal Living and Dining Rooms both with custom tile. The recently remodeled kitchen is chefs dream and feature granite tops, stainless steel appliances and a large island. All of this is overlooking the Family Room with a real wood burning brick fireplace and sliders that take you to the screened in lanai and spacious back yard. The first floor also features the 4th bedroom and 3rd bath, that is a perfect guest suite. Over-sized laundry room with custom cabinetry and laundry chute from Master Bath above. As you make your way up the stairs, you can stop in to the Loft, over looking the formal and the front entry. Down the hall there are 2 additional roomy bedrooms and new 2nd bathroom. The Master Suite is large enough for a King size bed, has vaulted ceilings, a large window and features his & her closets. Continuing in to the completely rehabbed bathroom, there is plenty of light, a large jetted garden tub, over-sized walk in shower and his & her sinks. Recent updates include: freshly painted neutral interior throughout and new garage door. Pre-Qualified & Serious Buyers Only Please.

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: River Crossing

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $71k331k

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

Neighborhood: River Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8251826

* 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
Deer Park Elementary School Primary Regular 577 48 7
River Ridge Middle School Middle Regular 1,118 78 7
River Ridge High School High Regular 1,536 89 7

Deer Park Elementary School

  • Education Level: Primary
  • # of students: 577
  • # of teachers: 48
7
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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,347
Property Tax -$408
Property Insurance -$194
HOA -$12
Property Management Fees -$80
CASH FLOW
$19

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.

$365,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 5.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$33,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,044

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$2,0603$2,400
$2,400
RENT COMPS ANALYSIS
  • 9178 Remington Dr New Port Richey, FL 2
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.76
    •  
  • 8127 Tarsier Ave New Port Richey, FL 1
    • 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,415 Sqft ∙ Built 1989
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.69
    •  
  • 10212 Shooting Star Ct New Port Richey, FL 3
    • 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2003
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Herve Barbera
1.844.239.2663
Beycome Of Florida Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5902768
Last Updated: 11/02/2020
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