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1189 Montgomery Bell Rd Wesley Chapel, FL 33543

4 Beds 3 Baths 2,573 sqft Built 2018

$390,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $151.57
  • 2 Days on Market
  • MLS # : T3296613
  • Updated Date : 03/20/2021 at 11:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,573 sqft
  • Baths : 3 full
Listing Agent

Re/max Premier Group

Listing Agent's Description

AFFORDABLE Urban Chic Luxury in an energy efficient home in the much desired community of Union Park! Looking for better than new and don’t want the frustration of waiting to build? Then “WELCOME HOME”! Offering 4 bedrooms, Office, 3 baths, 2 car garage and Bonus Rm w/ 2573 sf of living space there is plenty of room to spread out. Once inside you will find this is a remarkably livable and beautiful home. As you enter there is a dedicated home office, perfect for the person that now works from home. The open concept Family Rm/Kit/Casual Din provides the WOW factor! Open and airy this home is an entertainer’s dream with a multitude of windows and a sliding glass door that dissolve the lines between indoors and outdoors. The kitchen, the heart of the home, features a large working island, an abundance of 42” cabinets w/crown, granite tops, tile backsplash and stainless appliances that all stay! Let the relaxing begin as you retreat to the comfortable outdoor living area or take a dip in your own pool! A fenced back yard provides the privacy. The upstairs Owner’s Retreat is your oasis with ensuite bath including an over-sized shower and garden tub. A large walk-in closet completes the package. A generous Bonus Rm makes your own Media or Game Rm a reality! Two additional bedrooms and full bath are upstairs as well. Union Park is an upscale community w/ clubhouse, fitness, pools, sports court, parks, nature trails. Ultra-WiFi and basic cable are included. Close to great schools, Wiregrass Shoppes, restaurants. DON’T YOU DESERVE THIS?

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
Double Branch Elementary School Primary Regular 869 62 6
Dr. John Long Middle School Middle Regular 1,689 101 8
Wiregrass Ranch High School High Regular 2,332 138 8

Double Branch Elementary School

  • Education Level: Primary
  • # of students: 869
  • # of teachers: 62
6
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
 

$351,000$429,000$390,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,355
Property Tax -$621
Property Insurance -$186
HOA -$68
Property Management Fees -$129
CASH FLOW
-$49

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.

$390,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.59%

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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$22,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,438

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3103$2,3454$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 1189 Montgomery Bell Rd Wesley Chapel, FL 2
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.90
    •  
  • 32165 Goddard Dr Wesley Chapel, FL 1
    • 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 2017
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.88
    •  
  • 1172 Montgomery Bell Rd Wesley Chapel, FL 3
    • 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,529 Sqft ∙ Built 2018
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.93
    •  
  • 1181 Montgomery Bell Rd Wesley Chapel, FL 4
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 2018
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.97
    •  
  • 1380 Fort Cobb Ter Wesley Chapel, FL 5
    • 5 beds 4 baths ∙ 2,466 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,466 Sqft ∙ Built 2018
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Michelle Deaton
1.813.493.6072
Re/max Premier Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3296613
Last Updated: 03/20/2021
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