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1202 Timber Trace Dr Wesley Chapel, FL 33543

3 Beds 3 Baths 1,810 sqft Built 1995

$299,800

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $165.64
  • 2 Days on Market
  • MLS # : T3284494
  • Updated Date : 01/16/2021 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,810 sqft
  • Baths : 2 full , 1 half
Listing Agent

Charles Rutenberg Realty Inc

Listing Agent's Description

WATERFRONT OASIS!! Desirable Meadow Pointe LAKEFRONT 3 bedroom + loft/bonus room, 2.5 bath features updated kitchen, with side fencing for privacy and MAGNIFICENT WATER VIEWS! The open floor plan boasts a lovely master suite on the first floor, custom walk-in closet, large shower, dual vanities w/ undermount sinks & separate tub. The eat-in kitchen has stainless steel appliances, granite counter tops, recipe desk, pantry & cabinets for a custom finish. Kitchen opens up to the spacious living & dining room w/ high ceilings & updated wood-like floors extending into the master suite. This home also features a NEW ROOF and EXTERIOR PAINT (2019) and tankless water heater (2020). Secondary bedrooms are very spacious w/ lovely bench seats by the windows. Additional loft/bonus room is perfect for a 4th bedroom, office or playroom! Relax on the screened porch sipping on a glass of tea while gazing over the majestic waterviews and spectacular wildlife. Zoned in A rated schools within the community. Meadow Pointe amenities include Community Pool, Splash Pad, Playground, Tennis & Basketball Courts, Clubhouse & Fitness Center. Prime location near Wiregrass Mall, Outlets, Hospital & Restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$269,820$329,780$299,800

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,041
Property Tax -$394
Property Insurance -$142
Property Management Fees -$129
CASH FLOW
-$5

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.

$299,800

PROJECTED PRICE

$1,700

PROJECTED RENT

0.57%

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

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,197

INVESTMENT

$85,197

Down Payment
$74,950
Rehab Estimate
$5,750
Closing Costs
$4,497

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,041

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,950
Loan Amount $224,850
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$21,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6253$1,6454$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1202 Timber Trace Dr Wesley Chapel, FL 4
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 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
    •  
  • 1219 Timber Trace Dr Wesley Chapel, FL 2
    • 4 beds 3 baths ∙ 1,757 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,757 Sqft ∙ Built 1994
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 1309 Horsemint Ln Wesley Chapel, FL 3
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1998
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.97
    •  
  • 1248 Timber Trace Dr Wesley Chapel, FL 5
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1994
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Joseph Kozlar
1.813.924.2907
Charles Rutenberg Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3284494
Last Updated: 01/16/2021
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