Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1012 Standing Reed Pl Wesley Chapel, FL 33543

3 Beds 2 Baths 1,585 sqft Built 1992

$298,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $188.58
  • 4 Days on Market
  • MLS # : T3284643
  • Updated Date : 01/14/2021 at 23:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,585 sqft
  • Baths : 2 full
Listing Agent

Chase Real Estate, Inc

Listing Agent's Description

What a wonderful opportunity to enjoy the beautiful & much sought after Meadow Pointe community! Homes for sale in this particular neighborhood are rare and do not last long. This lovely waterfront home sits on a serine pond teaming with nature. As you enter the front door look through to the back for a nice preview of that water. To your left you will see the breakfast nook and kitchen. The kitchen has an opening that allows the chef of the family to chat with those in the living room. Past the kitchen is a separate dining room to enjoy your delicious meals. A few steps away and you are in the large family room. Point your gaze out the sliding glass doors to the delightful view of the water. The comfortable family room has high ceilings and a cozy wood burning fireplace. This split-bedroom plan home allows privacy. The master bedroom has open water views and an en-suite bathroom with a garden tub and stand alone shower. The other two bedrooms and hallway bathroom are across the living room to the other side of the home. The back bedroom also has a nice view of the water. Under the shade trees of the back yard you can sip your morning coffee or evening beverage on the large screened in porch. From there exhale and unwind. Another way to enjoy yourself is to head right over to the Meadow Pointe Clubhouse. This has two pools, a splash pad, playgrounds, fitness center, basketball, racquetball & volleyball courts! Something to do for everyone! And there is no HOA fee! When you are ready to go out to restaurants and shops there are numerous awesome choices- Wiregrass Mall & Tampa Premium Outlets are just a few minutes away. Some recent improvements to this home are New exterior paint, some new interior paint and newer carpeting in bedrooms. The kitchen and bathrooms are nice and clean but could use your personal upgrading touch to create your perfect vision. Come and make this house your home!

SEE MORE

MARKET HIGHLIGHTS

  • 2nd Best City for Young Entrepreneurs (Forbes)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Tampa inherits the rank being part of Florida.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)
  • Headquarters to several Fortune 1000 companies: Publix Super Markets, Tech Data, Jabil Circuit, WellCare Health Plans, Raymond James Financial, Bloomin’ Brands, HSN, and TECO Energy (Fortune, 2018)
  • #8 in America's Fastest Growing Cities (Forbes, 2018)
  • Tampa metro employment growth is at 2.6% and predicted to grow at 2.1% in 2019 (USMayors.org, 2018)
  • One of the best cost-friendly American cities to do business (KPMG)
  • Tampa metro contributes to 15.4% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • #2 in Homebuilding Prospects #10 in Overall Real Estate Prospects (Emerging Trends in Real Estate 2019, PWC)

PRICE & RENT TRENDS

Neighborhood: Meadow Point

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Meadow Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052007

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Sand Pine Elementary School Primary Regular 579 38 7
Dr. John Long Middle School Middle Regular 1,689 101 8
Wiregrass Ranch High School High Regular 2,332 138 8

Sand Pine Elementary School

  • Education Level: Primary
  • # of students: 579
  • # of teachers: 38
7
GreatSchools Rating

Dr. John Long Middle School

  • Education Level: Middle
  • # of students: 1,689
  • # of teachers: 101
8
GreatSchools Rating

Wiregrass Ranch High School

  • Education Level: High
  • # of students: 2,332
  • # of teachers: 138
8
GreatSchools Rating
 

$269,010$328,790$298,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,038
Property Tax -$392
Property Insurance -$128
Property Management Fees -$129
CASH FLOW
-$98

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$298,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,959

INVESTMENT

$84,959

Down Payment
$74,725
Rehab Estimate
$5,750
Closing Costs
$4,484

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,038

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,725
Loan Amount $224,175
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,570

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,590

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5753$1,5904$1,6005$1,645
$1,645
RENT COMPS ANALYSIS
  • 1012 Standing Reed Pl Wesley Chapel, FL 3
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.00
    •  
  • 20762 Great Laurel Ave Tampa, FL 1
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2005
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 9318 Leatherwood Ave Tampa, FL 2
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.98
    •  
  • 9306 Leatherwood Ave Tampa, FL 4
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2005
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 28311 Tall Grass Dr Wesley Chapel, FL 5
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1993
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.10
    •  
PROPERTY LISTING DETAILS
Scott Parttridg
1.813.789.3039
Chase Real Estate, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284643
Last Updated: 01/14/2021
BESbswy