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1337 Edgewater Beach Dr Lakeland, FL 33805

3 Beds 2 Baths 1,650 sqft Built 1971

$195,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $118.18
  • 4 Days on Market
  • MLS # : L4920189
  • Updated Date : 01/14/2021 at 22:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

LAKEVIEW HOME WITH HUGE POTENTIAL! This 3 bedroom 2 bath home has a spectacular view of Lake Parker and sits on a large corner lot. It has 1650 square feet of living space, including a formal dining room and living room. The formal dining has a beautiful chandelier that will remain in the home. The large master bedroom has an en-suite bathroom with shower and a walk in closet. A large Florida room at the back of the house is cooled for those hot summer days when you want to be outside but still be comfortable. The retro kitchen has a built in oven and cooktop, breakfast bar and a pass through to the Florida room. The garage has a workshop area and there's a large storage shed in the back yard. The yard is adorned with numerous fruit trees, herbs and plants. A portion of the yard has been hardscaped, creating various seating areas to enjoy the outdoors. The house could use some TLC but is a great family home and it's in a great location with shopping, dining, and medical facilities within a few minutes drive.

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: Edgewater Beach

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $70k202k

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

Neighborhood: Edgewater Beach

NeighborhoodNIR Market*CityMarket2015Year20092019 Q290095010001050110011501200125013001350Rent in $8931380

* 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
Valleyview Elementary School Primary Regular 726 45 8
Crystal Lake Middle School Middle Magnet 942 61 3
Lakeland Senior High School High Regular 2,139 117 5

Valleyview Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 45
8
GreatSchools Rating

Crystal Lake Middle School

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

Lakeland Senior High School

  • Education Level: High
  • # of students: 2,139
  • # of teachers: 117
5
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$677
Property Tax -$237
Property Insurance -$130
Property Management Fees -$129
CASH FLOW
$76

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.

$195,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$16,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,002

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$795
1$7952$8953$1,1004$1,1005$1,250
$1,250
RENT COMPS ANALYSIS
  • 1337 Edgewater Beach Dr Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.76
    •  
  • 1702 Holly Rd Lakeland, FL 1
    • 4 beds 2 baths ∙ 1,387 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,387 Sqft ∙ Built 1965
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $795
    • $0.57
    •  
  • 951 E Lowell St Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1953
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.56
    •  
  • 1212 Edgewater Dr Lakeland, FL 3
    • 4 beds 2 baths ∙ 1,916 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,916 Sqft ∙ Built 1961
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.57
    •  
  • 1040 Lakeshore Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1956
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.73
    •  
PROPERTY LISTING DETAILS
Lori Edwards
1.863.559.5173
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920189
Last Updated: 01/14/2021
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