4-bed model leaseback in Highland Reserve
Highland Reserve · Wesley Chapel, FL 33543 · 24-month builder leaseback
4 beds · 3 baths · 2,648 sqft · built 2025 · Single-family detached — example
A brand-new decorated model in a 412-homesite community with 6 years of remaining build-out. The builder stays in place as tenant, maintaining the home as its on-site sales model and paying rent under a 24-month leaseback with escalation, then returns it in retail-ready condition.
- List price
- $612,000
- Monthly rent
- $4,150
- Cap rate
- 8.14%
- Lease term
- 24 mo
The investment opportunity
Adjust financing, taxes, and growth assumptions to see cash flow, cash-on-cash, DSCR, and a full hold-period projection.
Est. 10-year
annualized return
10.9%
2.81x equity multiple · $294,194 total profit
Estimated from the editable inputs below. Assumes a 10-year hold and 6% sale costs at exit.
Returns
- Est. cap rate
- 6.3%
- Est. cash on cash
- 1.7%
- DSCR
- 1.08
- Gross yield
- 8.1%
- Annual rental income
- $49,800
- Est. annual cash flow
- $2,837
- Net operating income
- $38,562
Acquisition costs
- Down payment & closing costs
- $162,180
- Total acquisition cost
- $621,180
Key expenses
- Annual HOA fee
- $1,140
- Est. annual operating expenses
- $11,238
- Monthly mortgage payment
- $2,977
- Mortgage amount
- $459,000
Break-even rent at these inputs is $3,914 / mo. Figures are estimates based on your assumptions and builder-published numbers — not investment, tax, or legal advice.
Lease terms
- Lease structure
- Builder leaseback, NNN-style
- Initial term
- 24 months from close
- Renewal option
- Two 6-month extensions at 3% escalation
- Rent escalation
- 3% at month 13
- Maintenance & landscaping
- Builder (tenant) responsibility
- Utilities
- Paid by builder during model use
- Insurance
- Owner carries dwelling; builder carries liability
- Security deposit
- One month's rent
- Turnover condition
- Model conversion to retail finish at builder cost
- Earliest close
- 45 days from executed contract
What's renting nearby
Recently leased homes within two miles, used to sanity-check the leaseback rent against the open market.
| Address | Distance | Bd/Ba | Sqft | Monthly rent | Leased |
|---|---|---|---|---|---|
| 3910 Kestrel Loop | 0.4 mi | 4 / 3 | 2,512 | $3,995 | Jun 2026 |
| 12207 Marbella Way | 0.7 mi | 4 / 3 | 2,704 | $4,200 | May 2026 |
| 8815 Cypress Hollow Dr | 1.1 mi | 5 / 3 | 2,910 | $4,425 | May 2026 |
| 4471 Ashcombe Ln | 1.3 mi | 4 / 2.5 | 2,388 | $3,850 | Apr 2026 |
| 2260 Palmetto Ridge Ct | 1.6 mi | 4 / 3 | 2,640 | $4,100 | Apr 2026 |
| 7702 Verano Crest | 2.0 mi | 4 / 3 | 2,755 | $4,275 | Mar 2026 |
| Median comp rent | $4,150 | in line | |||
Location
Highland Reserve
Wesley Chapel, FL 33543
Tampa–St. Petersburg metro
- Interstate 753.2 mi
- Downtown Tampa27 mi
- Tampa International Airport34 mi
- Elementary school0.9 mi
- Grocery & retail center1.4 mi
- Regional hospital4.6 mi
Neighborhood & demographics
Rental demand, income, and growth signals within the surrounding ZIP code.
Population growth (5 yr)
+14.8%
Median household income
$96,400
Renter-occupied homes
27%
Avg days on market
31
Median 4-bed rent
$4,090
Rent growth (12 mo)
+3.9%
Median home value
$589,000
School rating (avg)
8 / 10
The community
Highland Reserve
Wesley Chapel, FL 33543 · Tampa–St. Petersburg metro
412 homesites with amenity center, resort pool, trails, and a park. Roughly 6 years of build-out remain, which is what keeps the model in service and the leaseback rent flowing. Model leasebacks can be single-family, townhome, or condo — this listing shows one example.
- Homesites412
- Build-out remaining~6 years
- HOA dues$95 / mo
- CDD / special district$1,780 / yr
- Home typeSingle-family detached — example
Property management
During the leaseback the builder maintains the home as its model, so day-to-day management is minimal. These are the options investors line up for the post-lease period.
Builder-maintained term
The builder covers upkeep, landscaping, and utilities while the home serves as its sales model.
Third-party manager
Engage a local residential property manager for lease-up after the builder vacates — typically 8% of collected rent.
Self-manage or resell
Take over directly, or sell into the retail market once the model conversion is complete.
Example listing for illustration only. Model Home Investor is not a licensed broker or agent and does not represent any party. Verify all terms directly with the builder.