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9337 Morehead Ln Port Richey, FL 34668

3 Beds 2 Baths 1,570 sqft Built 1984

$165,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $105.10
  • 2 Days on Market
  • MLS # : U8105986
  • Updated Date : 11/28/2020 at 19:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,570 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This is your opportunity to own this beautifully updated 3 bedroom +office and 2 bath home over 1500sq feet that is move in READY! This home feels spacious and modern and offers a split floor plan with extra privacy! Master bedroom has an ensuite bathroom with LARGE walk in closet! Almost everything has been updated! Roof is 8 years old, HVAC is 7 years old! Kitchen has been fully updated top to bottom and has been designed for great storage and has a breakfast bar and the chef of the family will love the working space! Both bathrooms are updated in the past 6 years old! All new flooring in the last year! Hot water heater 2 years old. All recessed lighting. HUGE PANTRY and inside laundry room. Living room and also a small family room/office with closet! Lots of extra living space in this home! Hurricane films on the windows for great protection. Save money on your water bill; with well water for the sprinklers. Low maintenance FULLY FENCED in yard you won't even need a lawn mower! If you love gardening its all ready for you! Loads of extra storage; built in storage rooms and also a nice storage shed that will stay! NO HOA bring your big toys and commercial vehicles! NOT in a flood Zone! Live close to Bishop Larkin School and also New Day Spring Academy is being built across the street! Wow! There are no neighbors in front of you! Lots of shopping, restaurants, and medical facilities are all close by! Wow Hurry Fast as this home won't last! This home is truly must see!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $47k238k

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

Neighborhood: The Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200130014001500Rent in $5971590

* 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
Fox Hollow Elementary School Primary Regular 565 44 3
Bayonet Point Middle School Middle Regular 708 50 3
Ridgewood High School High Regular 1,133 73 3

Fox Hollow Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 44
3
GreatSchools Rating

Bayonet Point Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 50
3
GreatSchools Rating

Ridgewood High School

  • Education Level: High
  • # of students: 1,133
  • # of teachers: 73
3
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$609
Property Tax -$184
Property Insurance -$128
Property Management Fees -$80
CASH FLOW
$180

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.

$165,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 12.2%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$33,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,335

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2003$1,2004$1,2495$1,285
$1,285
RENT COMPS ANALYSIS
  • 9337 Morehead Ln Port Richey, FL 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.75
    •  
  • 9341 Mark Twain Ln Port Richey, FL 2
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1978
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.83
    •  
  • 8220 Westfield Dr Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,405 Sqft ∙ Built 1988
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.85
    •  
  • 9421 Barnstead Ln Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 1989
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.83
    •  
  • 9101 Dresden Ln Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1981
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,285
    • $0.89
    •  
PROPERTY LISTING DETAILS
Amy Knightley
1.727.410.4866
Keller Williams Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8105986
Last Updated: 11/28/2020
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