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1217 Brighton Way Lakeland, FL 33813

4 Beds 3 Baths 2,622 sqft Built 1983

$369,900

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $141.08
  • 2 Days on Market
  • MLS # : L4920608
  • Updated Date : 01/31/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,622 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Light And Bright! Desirable Lake Point South Home. This 4-Bedroom, 3-Bath, Home Sits On A Generous Sized Lot With Numerous Updates Be Sure To Make this Home A Must To See. You Will Be Amazed At The Comfortable, And Useable Light Bright Spaces. There Are Two Master Suites, One Downstairs And One Up. The Downstairs Master Suite Can Also Be Used As A Fitness Room Or Library. The Other Two Upstairs Bedrooms Are Quite Spacious. The Great Room Is Just That - Great! With Cathedral Ceilings, Floor To Ceiling Windows Facing The Backyard, And A Wood Burning Fireplace For Cool Florida Winter Evenings. The Spacious Combo Kitchen/Dining Area Affords Granite Counter Space, And Wood Cabinets, Accompanied With Stainless Appliances, A Built-in Oven, Microwave, Solid Surface CookTop, An Island offset With The Dining Area. The 2nd Floor Bathrooms Have Been Updated With Wood Raised Panel Cabinets And Granite Counter Tops, And Have Been Recently Re-plumbed. The Showers Have Been Re-tiled And Have All New Fixtures. You Will Enjoy the Pella Triple Pane Windows & Doors With Blinds Installed In 2009 Along With New Wood Flooring Upstairs And in the Downstairs Master Suite. The Garage Has A 12’x6’ Utility Room(With A/C), Plus A Storage Room. Another Desirable Feature Is A Two-Car Side Entry Garage With Plenty Of Parking Space. The Fantastic Lush, Park-like Landscaped Backyard Is Viewable From Both The Main-Level And Upstairs Living Areas, Offset By A Huge Trex Deck For Relaxation Or Any Event, And Including A Nice Fenced Backyard Including A Nice Tall Hedge For Privacy. You Will Also Find Yourself Relaxing On The Two Wood Deck Upstairs – One Off The Upstairs Master Suite And The Other Off The Second Bedroom. Updating Also Includes: Freshly Painted Interior (2020), Recently Painted Exterior, Roof Replacement (2016), New Split A/C System Downstairs (Installed 2019), The Upstairs System (Installed 2013) Which Included New Duct Work Throughout The Home At The Time,Has Been Meticulously Maintained. (Note: Homestead Exemption + "Yes". This Will Be Applied To 2021 Tax Year Bill) You Are Going To Love This Home! Come See. Don’t Wait. Make An Appointment Today!

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: Lake Point South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $70k384k

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

Neighborhood: Lake Point South

NeighborhoodNIR Market*CityMarket2015Year20092019 Q210001200140016001800200022002400Rent in $9082446

* 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
Scott Lake Elementary School Primary Regular 771 52 5
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Scott Lake Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 52
5
GreatSchools Rating

Lakeland Highlands Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 66
6
GreatSchools Rating

George W. Jenkins Senior High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 116
5
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,285
Property Tax -$407
Property Insurance -$186
HOA -$125
Property Management Fees -$129
CASH FLOW
$98

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.

$369,900

PROJECTED PRICE

$2,230

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$27,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,842

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,9955$2,230
$2,230
RENT COMPS ANALYSIS
  • 1217 Brighton Way Lakeland, FL 5
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.85
    •  
  • 5115 Hanover Ln Lakeland, FL 1
    • 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1996
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 5905 Coveview Dr W Lakeland, FL 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 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
    •  
  • 2015 High Vista Dr Lakeland, FL 4
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
PROPERTY LISTING DETAILS
Patrick Thurmond
1.863.450.8847
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920608
Last Updated: 01/31/2021
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