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9830 Lema Ct New Port Richey, FL 34655

3 Beds 2 Baths 1,593 sqft Built 1982

$273,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $171.37
  • 5 Days on Market
  • MLS # : U8103135
  • Updated Date : 11/02/2020 at 20:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,593 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

Welcome Home, your search is over this home has everything you have been looking for. Spacious 3 bedrooms, 2 baths, 2 car garage nestled on a 1/2 acre lot with no rear neighbors in a cul de sac. The home is located in the desired Fairway Springs, Trinity area with Top rated schools. Split floor plan, tile throughout. Off of living room, dining room combination leads to the Master en-suite which offers walk in closet, beautifully remodeled bathroom with new tile in shower, skylight, new toilet, new vanity. Kitchen offers plenty of cabinetry and counter space with pass through window leading to the Florida room. Off the kitchen is another room which could be a family room or large dining area. 2 more bedrooms positioned near 2nd fully remodeled bathroom. 3 separate sliders leading to enclosed Florida room and fenced in yard. The yard goes beyond the fence so be sure to open the gate to view the beautiful wooded lot. Roof is 2006, AC is 2017.Located Conveniently close to Restaurants, Shopping, Hospitals, Tampa International Airport and Beaches!

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: Fairway Springs

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $71k246k

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

Neighborhood: Fairway Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8251642

* 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
Longleaf Elementary School Primary Regular 645 51 9
Seven Springs Middle School Middle Regular 1,442 88 9
James W. Mitchell High School High Regular 1,892 117 7

Longleaf Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 51
9
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
 

$245,700$300,300$273,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,007
Property Tax -$305
Property Insurance -$129
HOA -$23
Property Management Fees -$80
CASH FLOW
$6

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.

$273,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.13%
Appreciation Year (1-5) 8.4%
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-$2.0k$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,095

INVESTMENT

$78,095

Down Payment
$68,250
Rehab Estimate
$5,750
Closing Costs
$4,095

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,250
Loan Amount $204,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5453$1,5504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 9830 Lema Ct New Port Richey, FL 3
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 8634 Wind Mill Dr New Port Richey, FL 1
    • 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
    •  
  • 1816 Loch Haven Ct Trinity, FL 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2002
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.96
    •  
  • 3215 Player Dr New Port Richey, FL 4
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1983
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 3702 Sarazen Dr New Port Richey, FL 5
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1984
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Kim Doukas
1.727.278.0954
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8103135
Last Updated: 11/02/2020
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