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3542 Fortingale Dr Wesley Chapel, FL 33543

4 Beds 3 Baths 2,729 sqft Built 2006

$330,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $120.92
  • 2 Days on Market
  • MLS # : T3277877
  • Updated Date : 11/28/2020 at 15:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,729 sqft
  • Baths : 3 full
Listing Agent

Nexthome Bay Area Experts

Listing Agent's Description

LOOKING FOR LOTS OF ROOM, this 4-bedroom, 3-bath, 3-car garage on a pond fits the bill! Meticulously maintained by one owner, this home was built with an open layout and high ceilings on a beautiful lot overlooking a pond. The privacy starts at the gate of this exclusive enclave nested in the Meadow Pointe community. A split-bedroom floor plan allows for privacy inside the home with multiple living areas. Decorative, double glass leaded doors lead to the spacious entry and living room & dining room area accented with crown moulding. The spacious kitchen features 42" cabinets, Corian countertops, kitchen island with power, stainless steel appliances, closet pantry and desk area. The expansive living room features volume ceilings with pocket sliders that overlook the screened-in patio and pond. The owners’ suite has separate sliders to patio with pond view, an oversized walk-in closet and bath with double vanity, garden tub and walk-in shower. Bedrooms 2 and 3 are separated by a Jack-N-Jill bathroom while Bedroom 4 sits at the rear of the home with an additional bathroom with 2 storage closets in the hallway in this wing of the home. AC is approx. 4 years-new, all the windows have been updated, the exterior has been re-painted, also includes a water softener & pull down attic stairs in the garage for added convenience. Community amenities include a resort style pool, playground, tennis courts and basketball courts. Great location near the Tampa Premium Outlets, Wiregrass Mall, restaurants and area beaches. Low annual HOA fees; CDD fees are included in the taxes. 3D Tour attached as a link. Come quick!

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

Zip Code: 33543

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $91k343k

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

Zip Code: 33543

ZipNIR 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
Thomas E. Weightman Middle School Middle Regular 1,147 74 7
Wesley Chapel High School High Regular 1,582 99 6

Double Branch Elementary School

  • Education Level: Primary
  • # of students: 869
  • # of teachers: 62
6
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
 

$297,000$363,000$330,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,218
Property Tax -$631
Property Insurance -$195
HOA -$7
Property Management Fees -$80
CASH FLOW
$190

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.

$330,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.3%
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$1.2M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$48,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,326

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,3003$2,3204$2,3755$2,700
$2,700
RENT COMPS ANALYSIS
  • 3542 Fortingale Dr Wesley Chapel, FL 3
    • 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.85
    •  
  • 31132 Creekridge Dr Wesley Chapel, FL 1
    • 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,518 Sqft ∙ Built 2006
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
  • 3602 Juneberry Dr Wesley Chapel, FL 2
    • 4 beds 4 baths ∙ 3,028 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,028 Sqft ∙ Built 2006
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 3500 Juneberry Dr Wesley Chapel, FL 4
    • 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2006
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.87
    •  
  • 3632 Juneberry Dr Wesley Chapel, FL 5
    • 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,729 Sqft ∙ Built 2006
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Amy Smith
1.813.334.1667
Nexthome Bay Area Experts
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3277877
Last Updated: 11/28/2020
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