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1892 Tonka Ter Wesley Chapel, FL 33543

3 Beds 3 Baths 2,577 sqft Built 2016

$379,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $147.07
  • 4 Days on Market
  • MLS # : A4483614
  • Updated Date : 11/13/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,577 sqft
  • Baths : 2 full , 1 half
Listing Agent

Regency Realty Services

Listing Agent's Description

Must see pristine kept and brand new in 2016 single-story Portofino Model! Easily convertible to a 4-bedroom home; builder offered formal dining room or 4th bedroom with this Model since there is a "dining area" in addition to dinning room! Spectacular features with open layout including 10 foot ceilings, multiple tray ceiling treatments, kitchen with an impressive 11 foot center island, plank-style ceramic tiled floors, luxurious owners retreat with the garden tub, oversized walk-in pantry, and formal dining room. Designer enhancements include Tumbleweed plank tile flooring throughout entertainment spaces, 42” Amber Maple cabinetry, granite countertops, stainless steel appliances, water softener, Vinyl fenced in yard, reverse osmosis, extend back patio pavers for patio area, 4 Arlo ultra pro security camera's, hard wired for alarm system, ceiling fans throughout and much much more (see attached documents for more details). Hurricane impact windows and sliding doors! Charter school in neighborhood as well! Amazing amenities including cabana with resort-style community pool, splash park, fitness stations, basketball courts, dog park, playgrounds, miles of nature and walking trails, ultra high speed internet included throughout community.

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
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
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,398
Property Tax -$616
Property Insurance -$186
HOA -$68
Property Management Fees -$80
CASH FLOW
-$159

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.

$379,000

PROJECTED PRICE

$2,190

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$15,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,261

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1903$2,2954$2,3455$2,495
$2,495
RENT COMPS ANALYSIS
  • 1892 Tonka Ter Wesley Chapel, FL 2
    • 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,577 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.85
    •  
  • 32144 Watoga Loop Wesley Chapel, FL 1
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2016
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 32165 Goddard Dr Wesley Chapel, FL 3
    • 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 4
    • 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
    •  
  • 1858 Montgomery Bell Rd Wesley Chapel, FL 5
    • 4 beds 4 baths ∙ 2,907 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,907 Sqft ∙ Built 2015
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jana Jeansonne Mba
1.561.394.4600
Regency Realty Services
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4483614
Last Updated: 11/13/2020
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