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32312 Fish Hook Loop Wesley Chapel, FL 33545

3 Beds 3 Baths 2,094 sqft Built 2003

INVESTimate

$284,900

List Price

$1,770

$1,593 - $1,947

Rent Est.

$305,698  ( +7.30%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $136.06
  • 4 Days on Market
  • MLS # : T3261014
  • Updated Date : 08/24/2020 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,094 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tampa Bay Elite Homes, Llc

Listing Agent's Description

Welcome home! Come see this fabulous 2094 sq ft remodeled two story, 3 bedroom, 2 1/2 bath home in the much sought after New River Lakes Community. Impressive new custom kitchen with 42' Solid Wood shaker style cabinetry, Gorgeous 1st quality premium quartz counters, Stainless steel appliances, Wide plank Engineered waterproof hardwood floors, 5 inch Baseboards, New Lighting, Pre wired under cabinet lighting and more! The large Island/breakfast bar combo in the kitchen leads to open dining and the living/Family room area. Over-sized utility room, complete with built in storage off kitchen! Upstairs you will find the spacious, cozy loft area which could also serve a home office. The 2nd and 3rd bedrooms are tastefully decorated and both have great sized closets! The Master bedroom suite includes large walk in closet and bath with dual sinks, Separate shower and garden tub. NEW AC in 2018, EXTERIOR PAINT IN 2018, NEW ROOF IN 2019, NEW KITCHEN AND FLOORING IN 2019! Relax or entertain in your over sized screened and covered lanai over looking the pond! Great outdoor space for the family NO CDD and Low Monthly HOA Fees of 101.00 which includes cable, internet, newly resurfaced Community pool, two playgrounds, half basketball court, tennis courts and outdoor exercise equipment! The Elementary school is a walk or bike ride away using the community footbridge. The New River Community is within 4.5 miles to I 75 and close to SR 56 and US 301. Convenient to Grocery stores, new Downtown area currently underway at Avalon Park, The Shoppes at Wiregrass, The Outlet Mall, the New Groves and several restaurants! This home qualifies for USDA financing! It doesn't get much better than this! Schedule your appointment today!

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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: New River Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Neighborhood: New River Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8692007

* 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
New River Elementary School Primary Regular 661 52 5
Thomas E. Weightman Middle School Middle Regular 1,147 74 7
Wesley Chapel High School High Regular 1,582 99 6

New River Elementary School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 52
5
GreatSchools Rating

Thomas E. Weightman Middle School

  • Education Level: Middle
  • # of students: 1,147
  • # of teachers: 74
7
GreatSchools Rating

Wesley Chapel High School

  • Education Level: High
  • # of students: 1,582
  • # of teachers: 99
6
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

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$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,051
Property Tax -$316
Property Insurance -$158
HOA -$101
Property Management Fees -$80
CASH FLOW
$64

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.

$284,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.30%
Maintenance Year (1-5) 8.00%
Vacancy 5.26%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$31,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,775

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7704$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 32312 Fish Hook Loop Wesley Chapel, 3
    • 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.85
    •  
  • 32347 Fish Hook Loop Wesley Chapel, 1
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2003
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 31751 Inkley Ct Wesley Chapel, 2
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2003
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 32701 Coldwater Creek Loop Wesley Chapel, 4
    • 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2016
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 4613 White Bay Cir Wesley Chapel, 5
    • 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 2005
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
PROPERTY LISTING DETAILS
Miffi Maclean
1.813.735.6602
Tampa Bay Elite Homes, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3261014
Last Updated: 08/24/2020
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