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9430 Palm Ave Port Richey, FL 34668

3 Beds 2 Baths 1,366 sqft Built 1973

INVESTimate

$165,900

List Price

$1,110

$999 - $1,221

Rent Est.

$187,965  ( +13.30%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $121.45
  • 2 Days on Market
  • MLS # : W7826009
  • Updated Date : 08/26/2020 at 02:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,366 sqft
  • Baths : 2 full
Listing Agent

Paradise West Realty, Inc

Listing Agent's Description

Come see this light and bright cheery well maintained 3/bed/2 bath house with open floor plan. This will meet your needs of a happy home. Newer roof replaced in 2016 and AC in 2008. The garage has been revised to accommodate the 3rd bedroom and can be converted back. You can relax in your fenced backyard on the very large enclosed deck/lanai or entertain for fun weekends and holidays. There is no HOA involved here and it is being sold AS IS for sellers convenience.

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: Embassy Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $49k238k

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

Neighborhood: Embassy Hills

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
Gulf Highlands Elementary School Primary Regular 578 43 3
Chasco Middle School Middle Regular 692 47 5
Ridgewood High School High Regular 1,133 73 3

Gulf Highlands Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 43
3
GreatSchools Rating

Chasco Middle School

  • Education Level: Middle
  • # of students: 692
  • # of teachers: 47
5
GreatSchools Rating

Ridgewood High School

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

$149,310$182,490$165,900

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$612
Property Tax -$185
Property Insurance -$116
Property Management Fees -$80
CASH FLOW
$118

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.

$165,900

PROJECTED PRICE

$1,110

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.87%
Appreciation Year (1-5) 13.30%
Maintenance Year (1-5) 8.00%
Vacancy 5.25%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,714

INVESTMENT

$49,714

Down Payment
$41,475
Rehab Estimate
$5,750
Closing Costs
$2,489

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$612

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,475
Loan Amount $124,425
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$26,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,110

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1103$1,2004$1,2495$1,250
$1,250
RENT COMPS ANALYSIS
  • 9430 Palm Ave Port Richey, 2
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $0.81
    •  
  • 9416 Legend Ln Port Richey, 1
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1976
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.74
    •  
  • 9341 Mark Twain Ln Port Richey, 3
    • 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
    •  
  • 9421 Barnstead Ln Port Richey, 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
    •  
  • 6920 Tierra Verde St Port Richey, 5
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1973
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
PROPERTY LISTING DETAILS
Linda Saunders
1.727.967.1204
Paradise West Realty, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7826009
Last Updated: 08/26/2020
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