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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $128.72
- 2 Days on Market
- MLS # : L4919627
- Updated Date : 12/05/2020 at 14:01
CONSTRUCTION
- Beds : 4
- Floor Size : 2,789 sqft
- Baths : 3 full
Listing Agent
Remax Paramount Properties
Listing Agent's Description
SPACIOUS SOUTH LAKELAND HOME WITH MANY UPDATES. EXCELLENT 4 BEDROOM 3 BATH FLOOR PLAN WITH 19X11 BONUS ROOM/OFFICE, LIVING ROOM, FORMAL DINING ROOM AND SEPARATE FAMILY ROOM. THIS HOME COMES WITH CUSTOM KITCHEN WITH WOOD CABINETS, GRANITE COUNTERS AND UPGRADED STAINLESS STEEL APPLIANCES. THE LAMINATE WOOD FLOORING, CERAMIC TILE ARE IN FAMILY ROOM, LIVING ROOM AND DINING ROOM AREA. BERBER CARPET IN ALL BEDROOMS. THERE IS ONE BEDROOM DOWNSTAIRS AND 3 BEDROOMS UPSTAIRS AND ALSO BONUS ROOM/OFFICE ATTACHED TO THE MASTER BEDROOM THAT CAN BE USED AS A NURSERY OR WORK OUT ROOM. THIS HOME HAS 2 A/C UNITS THAT WERE INSTALLED 2 YEARS AGO AS WELL AS NEW PLUMBING FIXTURES IN THE KITCHEN AND ALL BATHROOMS. THIS HOME IS LOCATED NEAR SCOTT LAKE IN THE VERY WELL KEPT COLONY PARK SUBDIVISION AND LOCATED IN A QUIET CUL-DE-SAC. THERE IS NO MANDATORY HOA AT THIS PROPERTY. YOU CAN PARK YOUR BOAT OR RV. CALL AND MAKE YOUR APPOINTMENT TODAY TO SEE THIS PROPERTY.
SEE MORE
- 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: Colony Park East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Colony Park East
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,940 |
| EXPENSES | Loan Payment | -$1,325 |
| Property Tax | -$395 | |
| Property Insurance | -$196 | |
| 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.
$359,000
PROJECTED PRICE
$1,940
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.82% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.73% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$100,885
LOAN DETAILS
$1,325
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $89,750 |
| Loan Amount | $269,250 |
4
YEARS SAVED
$15,444
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,940
LIST RENT -
$0.7
LIST RENT PER SQFT
-
$1,938
COMP ESTIMATED VALUE -
$0.7
COMP AVG. RENT PER SQFT
Comps Range
-
1165 Colony Arms Dr Lakeland, FL 4
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5115 Hanover Ln Lakeland, FL 1
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-
5875 Hollyhock Dr Lakeland, FL 3
- 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 1992
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,800
- $0.71
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6535 Navajo Lakeland, FL 5
- 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2004
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,995
- $0.74
PROPERTY LISTING DETAILS
1.863.698.9341
Remax Paramount Properties
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: L4919627
Last Updated: 12/05/2020
