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115 Oak Run Dr Lakeland, FL 33809

3 Beds 2 Baths 2,018 sqft Built 2005

$265,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $131.32
  • 3 Days on Market
  • MLS # : L4919640
  • Updated Date : 12/04/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,018 sqft
  • Baths : 2 full
Listing Agent

S & D Real Estate Service Llc

Listing Agent's Description

You’re POOL home is finally here!! This beautiful, 3 bedroom SALTWATER pool home WON’T last long!! Beautiful, Rich wood laminate floors in the living areas & master bedroom and tile in kitchen & master bath. The kitchen features Stainless Steel appliances and a built-in coffee bar that once was a keg bar (yes a keg fits between those cabinets). Roof is approx. 2 years old & A/C is approx. 3-4 years old. Long driveway & large fully fenced backyard is perfect for gatherings or for multiple car family!! This home has SO much to offer and is MOVE-IN READY for the perfect new family!!! Did I mention it is also USDA Eligible = $0 down payment!! Make your appointment today for a private showing before its gone!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Oak Run

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180kPrice in $49k197k

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

Neighborhood: Oak Run

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400Rent in $9081441

* 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
Edgar L. Padgett Elementary School Primary Regular 547 33 6
Lake Gibson Middle School Middle Regular 1,130 68 4
Lake Gibson Senior High School High Regular 1,834 92 3

Edgar L. Padgett Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 33
6
GreatSchools Rating

Lake Gibson Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 68
4
GreatSchools Rating

Lake Gibson Senior High School

  • Education Level: High
  • # of students: 1,834
  • # of teachers: 92
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$978
Property Tax -$291
Property Insurance -$151
HOA -$14
Property Management Fees -$129
CASH FLOW
-$104

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

$1,460

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

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

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 55% 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

3.42

YEARS SAVED

$9,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,493

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4603$1,6004$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 115 Oak Run Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.72
    •  
  • 8603 Tara Pl Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1988
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 7341 Gunstock Dr Lakeland, FL 3
    • 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 7357 Gunstock Dr Lakeland, FL 4
    • 4 beds 2 baths ∙ 2,329 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,329 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
  • 7321 Gunstock Dr Lakeland, FL 5
    • 4 beds 2 baths ∙ 2,329 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,329 Sqft ∙ Built 1991
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
PROPERTY LISTING DETAILS
Alysia Cortes
1.863.812.5683
S & D Real Estate Service Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919640
Last Updated: 12/04/2020
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