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26753 Shoregrass Dr Wesley Chapel, FL 33544

4 Beds 3 Baths 2,611 sqft Built 2004

$345,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $132.13
  • 7 Days on Market
  • MLS # : U8108412
  • Updated Date : 01/02/2021 at 16:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,611 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

This lightly lived in single-story Mercedes built home is in the desirable, and gated Shoregrass neighborhood within the popular community of Seven Oaks. It's a split floorplan with soaring ceilings throughout, formal dining room, and separate living room with a large great room at the center of the home. This home features plantation blinds throughout and three full bathrooms including the large en suite of the master bedroom. Master bath includes jetted tub and large walk-in closet. The kitchen has upgraded and oversized cabinets with Corian counters and stainless steel appliances. The master-planned community of Seven Oaks includes a resort-style pool and splash pad with tennis and basketball courts. A snack bar, private event room, and theater are within the community clubhouse.

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: Seven Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $91k427k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Seven Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9052224

* 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
Seven Oaks Elementary School Primary Regular 1,082 76 7
Dr. John Long Middle School Middle Regular 1,689 101 8
Wiregrass Ranch High School High Regular 2,332 138 8

Seven Oaks Elementary School

  • Education Level: Primary
  • # of students: 1,082
  • # of teachers: 76
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
 

$310,500$379,500$345,000

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 -$1,273
Property Tax -$531
Property Insurance -$188
HOA -$11
Property Management Fees -$129
CASH FLOW
$177

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.

$345,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 3.0%
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$0.0$5.0k$10k$15k$20k

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$50,050

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
  • $0.88

    LIST RENT PER SQFT
  • $2,324

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3003$2,3004$2,3005$2,310
$2,310
RENT COMPS ANALYSIS
  • 26753 Shoregrass Dr Wesley Chapel, FL 5
    • 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.88
    •  
  • 3017 Sunwatch Dr Wesley Chapel, FL 1
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 27035 Firebush Dr Wesley Chapel, FL 2
    • 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2004
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
  • 26848 Shoregrass Dr Wesley Chapel, FL 3
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
  • 27142 Fern Glade Ct Wesley Chapel, FL 4
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.88
    •  
PROPERTY LISTING DETAILS
Robert O'connor
1.888.883.8509
Exp Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: U8108412
Last Updated: 01/02/2021
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