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27643 Sky Lake Cir Wesley Chapel, FL 33544

5 Beds 3 Baths 2,320 sqft Built 2000

$365,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.33
  • 6 Days on Market
  • MLS # : T3278458
  • Updated Date : 12/03/2020 at 11:49
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,320 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Tampa Prop.

Listing Agent's Description

COMPLETELY RENOVATED 5 Bedroom, 3 Bath PLUS loft in the highly sought-after Wesley Chapel area. Enjoy the open floor plan with rooms every buyer is searching for! Master bedroom and three additional bedrooms are on the first floor, 5th bedroom and large loft area are on the second floor. Recent improvements and upgrades include a new roof with transferable warranty, new AC, painted exterior and interior, new flooring, lights, ceiling fans and door hardware. Upgraded kitchen includes new stainless-steel appliances and sink and a marble countertop. All 3 bathrooms have been upgraded - marble countertops, new sinks, faucets and hardware. Enjoy time in the backyard with the newly added 10x30 patio with roof, cage and screens. See a complete list of upgrades on the MLS. Enjoy the community amenities - playground, tennis courts, basketball goals and sidewalks - all for a LOW HOA and NO CDD. Walking distance to stores and restaurants and close to I-275, I-75, Wiregrass Mall, Outlet Mall, Hospitals, and so much more! This home will not last long!

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: The Lakes at Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: The Lakes at Northwood

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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,347
Property Tax -$405
Property Insurance -$171
HOA -$58
Property Management Fees -$129
CASH FLOW
-$90

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.

$365,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.6%
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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$23,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,013

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9004$2,0205$2,100
$2,100
RENT COMPS ANALYSIS
  • 27643 Sky Lake Cir Wesley Chapel, FL 4
    • 5 beds 3 baths ∙ 2,320 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,320 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.87
    •  
  • 2340 Rosehaven Dr Wesley Chapel, FL 1
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2003
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 27237 Breakers Dr Wesley Chapel, FL 2
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1997
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 1231 Big Creek Dr Wesley Chapel, FL 3
    • 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2000
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 27725 Kirkwood Cir Wesley Chapel, FL 5
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kristi Drablos
1.813.789.1321
Keller Williams Tampa Prop.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3278458
Last Updated: 12/03/2020
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