7211 Potomac Drive, Tampa Florida

$89,900
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Description

SOLD
7211 Potomac Drive is a beautiful 3 bed 2 bath 1 car garage single family home. The sales price is $89,900 and our estimated annual net rental income is $7,800. That is AFTER running costs and vacancy/maintenance allowance which equates to a terrific 8.7% return on cash.
 

We have spent well over $20,000 on renovations which included the following:

– New flooring (existing tile in kitchen and living area, new carpet in bedrooms, new vinyl planks in family room, new tile in bathroom)
– New kitchen cabinets, countertops, sink, tile backslash, pantry and appliances
– Painting both interior and exterior of housing, including the driveway and patio floor
– Brand new family bathroom
– New air conditioner
– New interior doors
– New light fixtures
– New blinds
– Exterior finishing to close in an old window from third bedroom to the porch
– New garage door opener
– Extensive landscaping (the house was completely overgrown and trees had to be cut down)
– New fencing
– Roof is newer and was installed in 2014

 

Property Information

Address

7211 Potomac Drive

PORT RICHEY, FL 34668

Beds

3

Baths

2

Sq Ft

1,142 heated / 1,614 total

Year Built

1976

Flood Zone

X

Estimated Income & Overheads

Target Rent

$975

Gross Annual Rent

$11,700

Vacancy (5%)

$585

Management (8%)

$889

Maintenance (5%)

$585

Estimated Taxes

$989

Home Insurance Estimate

$850

Est. Net Operating Income

$7,802

POST RENOVATION

Purchase Price

$89,900

Estimated Rental Return

8.7%


Further Information
– Local market comps: Click here
– Deposit required: $5,000 (refundable)
– Inspection period: 7 days (can be extended for visitors flying into town)
– Contract used: Standard Florida realtors FARBAR contract (no commission payable)
– Closing period: 21-30 days, it´s flexible

Virtual Tour

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