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5107 Prairie View Way Wesley Chapel, FL 33545

3 Beds 2 Baths 1,272 sqft Built 2003

$195,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $153.30
  • 2 Days on Market
  • MLS # : T3274979
  • Updated Date : 11/07/2020 at 09:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

New River Lakes - Adorable 3 bedroom/2 bathrooms with a large family room, Open floor plan, partially fenced in back yard with a covered and screened rear patio. New River Lakes is a very quiet neighborhood and the park/playground is less than one block walking distance! The community also offers tennis courts, basketball area and pool. This home is affordable and the neighborhood has no CDD FEES! And Low HOA fees. Close to I-75, Wiregrass Mall, Outlet mall, Hospital. Don't miss out on this Gem of a home today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$719
Property Tax -$216
Property Insurance -$110
HOA -$101
Property Management Fees -$80
CASH FLOW
$83

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.

$195,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.67%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$25,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,247

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,4453$1,4754$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 5107 Prairie View Way Wesley Chapel, FL 1
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.03
    •  
  • 6308 Sushi Ct Wesley Chapel, FL 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2003
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.00
    •  
  • 4919 Whistling Pines Ct Wesley Chapel, FL 3
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2003
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 4027 Langdrum Dr Wesley Chapel, FL 4
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2006
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 4004 Langdrum Dr Wesley Chapel, FL 5
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2006
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ann Carlson
1.813.716.5724
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3274979
Last Updated: 11/07/2020
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