Description
SOLD. This is an extremely well maintained 2 bed 2 bath property close to downtown New Port Richey. The roof and HVAC are less than 2 years old and the interiors are in great condition. Some light renovations will be completed once the current tenant moves out and the property is expected to comfortably rent for $875-$925. This is a great long term, low hassle rental property.
| Address | Florida Ave |
| New Port Richey, FL 34653 | |
| Purchase Price | $79,900 |
| Beds | 2 |
| Baths | 2 |
| Garage | 1 car garage |
| Sq Ft | 1060 heated / 1517 total |
| Year Built | 1986 |
| Flood Zone | X |
| Estimated Income & Overheads | |
| Target Annual Rent | $10,800 |
| Target Monthly Rent (A) | $900 |
| Management (8%) | $821 |
| Estimated Taxes | $1,470 |
| Home Insurance Estimate | $900 |
| Maintenance Reserves (5%) | $540 |
| Vacancy Reserves (5%) | $540 |
| Annual Overheads | $4,271 |
| Monthly Overheads (B) | $356 |
| Est. Net Monthly Income (A-B) | $544 |
| Est. Cash on Cash Return | 8.2% |
| Sample Mortgage Calculations | |
| 20% down payment | $15,980 |
| Cap + int mortgage 30 yrs @ 5% int | $343 |
| Net Monthly Income After Mortgage | $201 |
| Est. Cash on Cash Return | 15.1% |