In recent years, New Port Richey, Florida has increased its efforts to create a welcoming city that gives individuals and families an ideal place to call home. As a result, there has also been increasing interest by real estate investors to purchase and rehab properties, which they either flip or turn into rentals, in this laid-back Gulf Coast community.
About New Port Richey, Florida
An outdoor-lovers dream, New Port Richey is located in Pasco County, along the Gulf of Mexico, and is considered a suburb of Tampa, St. Petersburg, and Clearwater.
Filled with parks that are perfect for hiking, biking and relaxing, New Port Richey gives visitors and residents a chance to enjoy the area’s mild temperatures and beautiful nature.
Its coastal proximity makes it the perfect city for Florida’s favorite pastimes. Along New Port Richey’s west coast and in its picturesque parks, residents are often found enjoying saltwater fishing, crabbing, kayaking, canoeing, and enjoying other beach and outdoor activities.
The city was incorporated in the 1920s and quickly became a favorite spot of Hollywood stars, including silent-movie actor Thomas Meighan, golfer Gene Sarazen, and songwriter Irving Berlin. New Port Richey’s period-correct architecture from its founding is still seen today in buildings such as the First State Bank of Elfers, Old Gulf High School, and the Thomas Meighan/Richey Suncoast Theatre.
Real Estate Investing in New Port Richey, Florida
In addition to the historic business buildings, structurally-sound residential properties with solid bones and clean lines are available for real estate investing in New Port Richey.
As of May 4th of this year, Trullia reports that the median sales price for a home was $106,000, with an average price per square foot of $79, and a median rent per month for apartments of $1,072.
The real estate market in New Port Richey is prime for individual investors and wholesalers looking for outstanding deals in a Gulf Coast community that combines nature, beaches, great shopping, restaurants, culture, and business with a small-town feel.
For investors wanting even more value, and willing to be a little further from the Gulf Coast, Port Richey is nearby and also presents an excellent investment opportunity with low home prices.
Graystone Investment Group
Graystone Investment Group is an experienced Investment Group wholesaling properties in the greater Tampa Bay area.
Unlike other wholesaling groups, we find properties that we resell to investors at discount prices, while also connecting them with private financing. We also coordinate with rehab and management companies we’ve worked with for years, at no extra charge.