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1118 Timber Trace Dr Wesley Chapel, FL 33543

4 Beds 3 Baths 1,769 sqft Built 1995

$284,999

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $161.11
  • 3 Days on Market
  • MLS # : T3280312
  • Updated Date : 12/12/2020 at 10:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,769 sqft
  • Baths : 3 full
Listing Agent

Bhhs Florida Properties Group

Listing Agent's Description

*No HOA, NO CDD BOND ONLY MAINTENANCE FEE OF $611 A YEAR* Natural Gas * Located in the beautiful community of Meadow Pointe I, this home features an open floorplan, 4 bedrooms, 3 full baths, formal dining room, Kitchen/Living Room Combo and large pie-shape lot that backs to conservation. The Kitchen features a beautiful waterfall quartz counter top, stainless steel appliances, gas stove, under counter lighting, deep undermount ss sink and eat in kitchen. The home features vaulted ceilings throughout the kitchen & living room which makes the space feel very open and spacious, perfect for entertaining guests. Popcorn ceilings have been removed! The back 2 bedrooms are separated by a jack and jill bathroom that can close off on either side. The formal dining room can be used for dining or a fun play room! The home features tile throughout the main portion of the home, with laminate that is *water resistant* in the bedrooms. The Master Bedroom features high ceilings, walk in closet and master bathroom with dual sinks, garden tub and shower. The backyard is located on an oversized pie shape lot with views to the conservation, creating a very private lot. Enjoy the screened in lanai off the living room that overlooks the views to the conservation. The community of Meadow Pointe I has no HOA, the CDD bond portion is paid off and all that remains is the maintenance portion of the CDD at $611/yr. Meadow Pointe Clubhouse I features two pools, splash pad, water slide, two playgrounds, basketball courts, volleyball courts, raquetball courts, ballet room, fitness center and so much more. The fire station is conveniently located right inside the community off Aaron Blvd. Pasco Hernando Community College is located within Meadow Pointe community near State Road 56. The community is conveniently located on the line between Wesley Chapel & New Tampa (Pasco County & Hillsborough County) and is also near Wiregrass Mall, Tampa Premium Outlets, interstates I75 & I275, State Road 56, Pasco Hernando Community College & USF. What the realtor loves about this home is the open floorplan, oversized lot and convenience to both I75 & I275. This home is move-in ready and won't last long! Schedule your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$256,499$313,499$284,999

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,052
Property Tax -$374
Property Insurance -$139
Property Management Fees -$129
CASH FLOW
-$44

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.

$284,999

PROJECTED PRICE

$1,650

PROJECTED RENT

0.58%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,749
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$21,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6253$1,6504$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1118 Timber Trace Dr Wesley Chapel, FL 3
    • 4 beds 3 baths ∙ 1,769 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,769 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 1219 Horsemint Ln Wesley Chapel, FL 1
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1997
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.87
    •  
  • 29405 Crossland Dr Wesley Chapel, FL 2
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2000
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.90
    •  
  • 1208 Crimson Clover Ln Wesley Chapel, FL 4
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1997
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 1030 Charmingfare Ct Wesley Chapel, FL 5
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1995
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kim Hilliker
1.813.453.5657
Bhhs Florida Properties Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3280312
Last Updated: 12/12/2020
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