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3908 Wayfarer Way Palmetto, FL 34221

3 Beds 2 Baths 1,651 sqft Built 2017

$265,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $160.51
  • 3 Days on Market
  • MLS # : A4487340
  • Updated Date : 01/02/2021 at 10:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full
Listing Agent

Florida Suncoast Real Estate

Listing Agent's Description

Built in just 2017, this 3-bed, 2-bath home is completely turn-key and shows the pride of ownership throughout! You will enjoy the beautiful laminate flooring throughout this home, the open floorplan, split bedroom layout, and the lakefront views out all your rear windows. Entertaining is easy in your open kitchen that looks out to your family room. Kitchen features include granite counters, center island with seating and closet pantry. The master bedroom is spacious and features a large walk-in closet and ensuite bath with walk-in shower and double sinks. The two additional bedrooms share a spacious bath. Enjoy your backyard from your covered patio that overlooks the lake. Willow Walk features a zero-entry resort-like community pool, pavilion, and playground. All of this for an extremely low HOA fee! Willow Walk is conveniently located to the Ellenton Outlets, minutes from I-75, 275, and 301 with quick access to St. Pete, Tampa and Sarasota and a short drive to gorgeous beaches. Don't wait, schedule your showing today!

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: 34221

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k297k

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

Zip Code: 34221

ZipNIR Market*CityMarket20102015Year20082019 Q21100120013001400150016001700180019002000Rent in $10372041

* 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
Tillman Elementary Magnet School Primary Magnet 556 37 4
Buffalo Creek Middle School Middle Regular 1,102 54 5
Palmetto High School High Regular 2,076 93 3

Tillman Elementary Magnet School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 37
4
GreatSchools Rating

Buffalo Creek Middle School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 54
5
GreatSchools Rating

Palmetto High School

  • Education Level: High
  • # of students: 2,076
  • # of teachers: 93
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$978
Property Tax -$323
Property Insurance -$137
HOA -$10
Property Management Fees -$129
CASH FLOW
$333

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.34%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 3.70%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$59,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9004$1,9105$1,950
$1,950
RENT COMPS ANALYSIS
  • 3908 Wayfarer Way Palmetto, FL 4
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.16
    •  
  • 4437 Lindever Ln Palmetto, FL 1
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 2017
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 3925 Park Willow Ave Palmetto, FL 2
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2018
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.04
    •  
  • 6015 36th Ct E Ellenton, FL 3
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2004
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.11
    •  
  • 5003 Willow Preserve Way Palmetto, FL 5
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2018
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ashley French
1.941.773.7400
Florida Suncoast Real Estate
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4487340
Last Updated: 01/02/2021
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