8040 Durham Drive, Port Richey, FL 34668

$109,900
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Description

SOLD. This is a very spacious 3 bed 2 bath property with a large fenced yard. There are lots of similar properties in the area with inferior renovations (some of them have pools) selling for $110,000 – $125,000. We have just completed a major renovation. 

Renovation scope 

– New roof
– New floors
– Paint inside and outside
– New kitchen cabinets, granite countertops, tile backsplash and appliances
– Upgrades to vanity, shower and floor in second bathroom
– Complete remodel of main bathroom
– Create open plan living area between kitchen and living room
– New interior doors
– New ceiling fans
– Repairs to enclosed patio
– Repairs to windows
– Fix gutter leaks
– New GFCI and smoke detectors
– General cleaning

 

Address Durham Dr
Port Richey, FL 34668
Purchase Price $109,900
Beds 3
Baths 2
Garage 1 car garage
Sq Ft 1517 heated / 2067 total
Year Built 1980
Flood Zone X
Estimated Income & Overheads
Target Annual Rent $13,800
Target Monthly Rent (A) $1,150
Management (8%) $1,049
Estimated Taxes $1,270
Home Insurance Estimate $1,100
Maintenance Reserves (5%) $690
Vacancy Reserves (5%) $690
Annual Overheads $4,799
Monthly Overheads (B) $400
Est. Net Monthly Income (A-B) $750
Est. Cash on Cash Return 8.2%
Sample Mortgage Calculations
20% down payment $21,980
Cap + int mortgage 30 yrs @ 5% int $472
Net Monthly Income After Mortgage $278
Est. Cash on Cash Return 15.2%

 

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