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33746 Honeywood Ave Wesley Chapel, FL 33545

3 Beds 2 Baths 2,112 sqft Built 2012

$295,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $139.68
  • 2 Days on Market
  • MLS # : T3289809
  • Updated Date : 02/13/2021 at 16:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,112 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

This spectacular home located in the desirable gated community of Hamilton Park will not last long! An open/split floor plan that is like new; this home is bright, beautiful and warm. The master bedroom comes with a sitting area, walk-in closet and a large master bathroom with double sinks and a garden tub; this home has it all! Centrally located in the heart of Wesley Chapel, within minutes of the interstate, dining, A rated schools and the Wire Grass Mall. This home is a MUST SEE!

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: Hamilton Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k500k

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

Neighborhood: Hamilton Park

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
New River Elementary School Primary Regular 661 52 5
Raymond B. Stewart Middle School Middle Regular 975 66 4
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

Raymond B. Stewart Middle School

  • Education Level: Middle
  • # of students: 975
  • # of teachers: 66
4
GreatSchools Rating

Wesley Chapel High School

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

$265,500$324,500$295,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,025
Property Tax -$327
Property Insurance -$159
HOA -$75
Property Management Fees -$129
CASH FLOW
$55

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.

$295,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 7.3%
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-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$26,671

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
  • $0.84

    LIST RENT PER SQFT
  • $1,827

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,9003$1,9004$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 33746 Honeywood Ave Wesley Chapel, FL 1
    • 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.84
    •  
  • 32931 Hillman Ct Wesley Chapel, FL 2
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2012
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 4352 Huddlestone Dr Wesley Chapel, FL 3
    • 4 beds 2 baths ∙ 2,262 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,262 Sqft ∙ Built 2006
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 32652 Coldwater Creek Loop Wesley Chapel, FL 4
    • 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 2017
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 4351 Highcroft Dr Wesley Chapel, FL 5
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
PROPERTY LISTING DETAILS
Brittney Faedo
1.813.300.8501
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3289809
Last Updated: 02/13/2021
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