New Port Richey Investment advice
Hi All!
I am looking at a turn key real estate property in New Port Richey, Florida. This is a single family home priced roughly at ~$100,000. The expected rental income is $925. Its in the 34652 zip code and has been fixed up by the turn key provider so there should be no additional expenses.
I am not familiar with New Port Richey as a city and it did not come up on any of my research as a target market ( I was thinking more in terms of Orlando/Jacksonville in FL). However, the cash flow seems to make sense and I am wondering if this could be a good opportunity.
Can someone with experience and knowledge regarding this city please comment and give feedback to evaluate this opportunity? My main goal right now is to get positive cash flow along with standard property appreciation (~3% like rest of the US).
Thanks
Jai
Most Popular Reply
$100k purchase price vs $925 in rent is a bad ratio in NPR.
NPR is no different than the rest of Florida. Some good areas, and a lot of bad areas. You should be able to tell a lot from google maps.
Whatever you decide please take a trip to see the house and drive the neighborhood before you purchase. You don't have to look far to find the horror stories about turnkey companies and out of state buyers.