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1449 Firewheel Dr Wesley Chapel, FL 33543

4 Beds 3 Baths 1,753 sqft Built 1997

INVESTimate

$270,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$285,687  ( +5.81%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $154.02
  • 6 Days on Market
  • MLS # : T3260854
  • Updated Date : 08/25/2020 at 14:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,753 sqft
  • Baths : 3 full
Listing Agent

Mark It Realty Group Inc

Listing Agent's Description

Welcome to a spacious open floor plan on this 4 bedroom 3 bathroom home in a nice quiet neighborhood with all appliances included and NEW ROOF 2020 NEW WATER HEATER 2020 NEW FLOORING! Home has been freshly painted and features large kitchen with eat-in space, pantry, breakfast counter, Elegant dining room, oak cabinets and plant shelves. Home has large great room with transom window plus formaldining room, 3 way bedroom split, vaulted ceilings and covered patio with partially fenced backyard. Master bathroom features garden tub, separate shower, dual sinks and large closet in master bedroom. Bedroom 3 and 4 share a jack and jill bathroom. Full use of community amenities inclluding pool, clubhouse, fitness center, tennis and basketball. K-12 without leaving subdivision of Meadow Pointe. Minutes to Wiregrass Mall, restaurants, I-75 , hospital and new community college.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$996
Property Tax -$374
Property Insurance -$138
Property Management Fees -$80
CASH FLOW
$31

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.

$270,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 5.81%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$26,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6453$1,6994$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1449 Firewheel Dr Wesley Chapel, 1
    • 4 beds 3 baths ∙ 1,753 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,753 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.92
    •  
  • 1309 Horsemint Ln Wesley Chapel, 2
    • 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
    •  
  • 1549 Firewheel Dr Wesley Chapel, 3
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1997
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.04
    •  
  • 1333 Maximilian Dr Wesley Chapel, 4
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1997
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 1610 Firewheel Dr Wesley Chapel, 5
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 1998
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ronen Montyano
1.813.504.0780
Mark It Realty Group Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3260854
Last Updated: 08/25/2020
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