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1101 Trimble Dr Lakeland, FL 33801

3 Beds 3 Baths 1,572 sqft Built 1974

$199,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $127.16
  • 2 Days on Market
  • MLS # : L4920161
  • Updated Date : 01/10/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax Paramount Properties

Listing Agent's Description

Great family home located on 1/2 acre. This 3 bedroom 2 1/2 bath home is located in a quiet area minutes from I-4 and Polk Parkway. Make your appointment today to see this nice property.

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: Combee Settlement

NeighborhoodNIR Market*CityMarket2010Year2000201950k60k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $42k185k

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

Neighborhood: Combee Settlement

NeighborhoodNIR Market*CityMarket2015Year20092019 Q270075080085090095010001050110011501200125013001350Rent in $6871380

* 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
Philip O'brien Elementary School Primary Regular 583 43 2
Crystal Lake Middle School Middle Magnet 942 61 3
Tenoroc High School High Regular 1,170 72 2

Philip O'brien Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 43
2
GreatSchools Rating

Crystal Lake Middle School

  • Education Level: Middle
  • # of students: 942
  • # of teachers: 61
3
GreatSchools Rating

Tenoroc High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 72
2
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$694
Property Tax -$260
Property Insurance -$126
Property Management Fees -$129
CASH FLOW
$131

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.

$199,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 3.80%
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$800k$900k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$22,096

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,336

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3153$1,3404$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 1101 Trimble Dr Lakeland, FL 3
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.85
    •  
  • 739 Venetian Ave Lakeland, FL 1
    • 3 beds 1 baths ∙ 1,290 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,290 Sqft ∙ Built 1959
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
  • 2413 Timbercreek Loop E Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1990
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.83
    •  
  • 2722 Aldine Cir Lakeland, FL 4
    • 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1961
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 1301 Magdalene Ct E Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1972
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Danny Christian
1.863.412.8951
Remax Paramount Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920161
Last Updated: 01/10/2021
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