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1229 Walt Williams Rd Lakeland, FL 33809

3 Beds 2 Baths 1,435 sqft Built 1989

$230,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $160.28
  • 4 Days on Market
  • MLS # : L4919355
  • Updated Date : 11/19/2020 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,435 sqft
  • Baths : 2 full
Listing Agent

Dream Realty Group

Listing Agent's Description

Lake Gibson High School district and NO HOA! This super cute and recently updated 3 bedroom, 2 bath home is waiting for you! Split bedrooms, inside utility, and the extra-large screen back porch, are nice features of this property. The fenced yard with a storage shed has plenty of room for a pool. The master bedroom features an en-suite and a huge walk-in closet. The other two bedrooms are split by an updated bathroom. The living and dining areas have been opened up to give that open floorplan feel. The kitchen has a window overlooking the back yard, plenty of cabinet and counter space as well as newer stainless steel appliances. The inside laundry has great space for storage. This property provides quick access to I-4 for commuting to Orlando or Tampa. It will go quickly so make your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Northridge

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $57k188k

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

Neighborhood: Northridge

NeighborhoodNIR Market*CityMarket2015Year20092019 Q280085090095010001050110011501200125013001350Rent in $7651392

* 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
Wendell Watson Elementary School Primary Regular 741 47 5
Lake Gibson Middle School Middle Regular 1,130 68 4
Lake Gibson Senior High School High Regular 1,834 92 3

Wendell Watson Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 47
5
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$849
Property Tax -$253
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
$30

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.

$230,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.58%

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$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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$17,991

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$1,2953$1,2954$1,3305$1,485
$1,485
RENT COMPS ANALYSIS
  • 1229 Walt Williams Rd Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.93
    •  
  • 1075 Walt Williams Rd Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.76
    •  
  • 1007 Janet Dr Lakeland, FL 2
    • 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,692 Sqft ∙ Built 2007
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.77
    •  
  • 490 Old Polk City Rd Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1972
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.73
    •  
  • 1018 Odoniel Dr Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1987
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.84
    •  
PROPERTY LISTING DETAILS
Christie Mcswain
1.863.450.7973
Dream Realty Group
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919355
Last Updated: 11/19/2020
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