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
