6311 West Port Drive, Port Richey, FL

5.98% return

SP: $114,900

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Property Description

Tons of Potential! Rent & Hold or Fix & Flip for Big Profit! Needs updating. 3 Bedrooms 2 Baths Single Family Residence.Solid structure. 1 Car Garage. Located close to shopping center. Easily rents for $1000+ a month and will generate a strong net return on investment.

Property Information

Listing statusSold
Property typeSingle Family
Total units1
Total bedrooms3
Total bathrooms2
Building size1504 sq. ft.
Lot size0.1 acres
Year built1973

CountyPasco County
SubdivisionWEST PORT SUB UNIT 2
ConstructionCBS
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$114,900
Estimated rehab¹$25,000
Total investment$139,900

TypeProforma
After repair value$180,000
Potential profit$40,100

Gross income (annually)$12,000
Operating expenses (annually)$3,629
Net income (annually)$8,371
Gross return8.58%

Gross income (monthly)$1,000
Operating expenses (monthly)$302
Net income (monthly)$698
Net return5.98%

Property Income & ExpensesMonthlyAnnual

Income

3 bed / 2 bath$1,000/month$12,000/year
Total$1,000/month$12,000/year

Expenses

Property Taxes$96/month$1,155/year
Insurance$146/month$1,754/year
Maintenance reserve$60/month$720/year
Total$302/month$3,629/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.