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6511 Sparkling Way Wesley Chapel, FL 33545

3 Beds 2 Baths 1,855 sqft Built 2016

$290,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $156.33
  • 2 Days on Market
  • MLS # : T3287632
  • Updated Date : 01/31/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,855 sqft
  • Baths : 2 full
Listing Agent

Future Home Realty Inc

Listing Agent's Description

ELEGANCE IN OAK CREEK ON A CONSERVATION LOT! SOLAR POWER! 3 CAR GARAGE! OVER-SIZED PAVER PATIO! TILE FLOORS THROUGHOUT! MOVE-IN READY! This extremely well maintained Rosewood Model built by Inland in 2016 is located in the highly desirable and established Oak Creek Community of Pasco County. Do you want LOW Electric Bills and like GREEN Energy? This Beautiful Home features a FULLY PAID OFF 6.3 kW SOLAR System (a $17k Value)! The Sellers’ Electric Bills for the last year averaged $46 per month! Inland designed the Floor Plan of this home to be FULLY Functional in all aspects: 3 Bedrooms + DEN/OFFICE (which can be used as a 4th Bedroom); 3-way Split Location of the Master Bedroom, Secondary Bedrooms and Den/Office which provides Privacy for everyone; Open Concept Floor Plan for the Kitchen and Family Room Combination; Formal Dining Room; 2 Full Bathrooms - Master Bathroom and 2nd Bathroom shared by the 2nd & 3rd Bedrooms; and a LARGE 3 Car Garage providing room for Extra Storage while also providing ample parking space in the driveway. The Spacious Kitchen consists of 42" Cabinets, Granite Countertops, long Cabinet-height Breakfast Bar Peninsula, eat-in Dinette area, double bowl stainless steel sink, and Stainless Steel Appliances. The Double Sliding Glass Doors off the Family Room open to a Fully Vinyl Fenced Yard and covered Lanai Patio which has been extended into an Over-Sized, Open-Air Patio with a private and tranquil Conservation View! Huge Master Suite with Large Walk-in Closet, Vanity with dual sinks, and Over-Sized Shower. Additional Elegance and Design Features include Tile Floors throughout (there is NO CARPET!), Reclaimed Wood Accent Wall in the Family Room and on the Front of the Breakfast Bar, Archways, Vaulted Ceilings, and in-ceiling surround sound speakers. Oak Creek offers many amenities for its residents, including a Community Pool, Picnic Pavilions, Dog Park, Covered Playground, Swings, Walking Trails with Boardwalk, and Basketball Court - which is also lined for Pickleball. Conveniently located with close proximity to shopping, restaurants, entertainment, schools, colleges, and hospitals in Wesley Chapel, Zephyrhills, and Dade City. A MUST SEE Home that won't last! Call today for your private showing! You can also View this Matterport Video Link for an immediate Virtual Showing from the comfort of your own home --- https://my.matterport.com/show/?m=WCYJnq3HV5A&brand=0

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: Oak Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k494k

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

Neighborhood: Oak Creek

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
Zephyrhills High School High Regular 1,502 92 3

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

Zephyrhills High School

  • Education Level: High
  • # of students: 1,502
  • # of teachers: 92
3
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,007
Property Tax -$474
Property Insurance -$144
HOA -$9
Property Management Fees -$129
CASH FLOW
-$34

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.

$290,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.27%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6503$1,6954$1,7305$1,750
$1,750
RENT COMPS ANALYSIS
  • 6511 Sparkling Way Wesley Chapel, FL 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.93
    •  
  • 6118 Merrifield Dr Zephyrhills, FL 1
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 2015
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 6723 Runner Oak Dr Wesley Chapel, FL 2
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2006
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 34023 Pickford Ct Wesley Chapel, FL 3
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 2017
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 34206 Spring Oak Trl Wesley Chapel, FL 5
    • 4 beds 2 baths ∙ 2,177 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,177 Sqft ∙ Built 2010
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
PROPERTY LISTING DETAILS
Richard Mastykarz, Pa
1.813.400.5032
Future Home Realty Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3287632
Last Updated: 01/31/2021
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