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1420 Mockingbird Ln Lakeland, FL 33801

3 Beds 2 Baths 2,353 sqft Built 1968

$328,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $139.40
  • 3 Days on Market
  • MLS # : L4921136
  • Updated Date : 02/27/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,353 sqft
  • Baths : 2 full
Listing Agent

Straight Up Realty & Pm Llc

Listing Agent's Description

Stunning 3/2 located a short walk to Lake Hollingsworth. Featuring a separate living room, family room and dining room. With 2,353 square feet of living space there is plenty of room for all. Kitchen is a dream and boasts wood cabinets, newer appliances, walk in pantry, granite counters, eating space and even a wine refrigerator. Home is filled with natural light but also cozy with plantation shutters on all windows. The spacious master bedroom has not one but two closets. What a closet it is - custom built and features a massive shoe rack. The huge master bath is super special - jacuzzi tub, separate shower, dual sinks with granite counters and custom designed glass double doors. Truly an oasis of luxury awaits. The yard is beautifully landscaped and fully fenced. There is also a side enclosed Florida room and back wood deck.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • One of the best cost-friendly American cities to do business (KPMG)

PRICE & RENT TRENDS

Neighborhood: Lake Horney

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k236k

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

Neighborhood: Lake Horney

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2800900100011001200130014001500Rent in $7781590

* 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
Philip O'brien Elementary School Primary Regular 583 43 2
Southwest Middle School Middle Regular 852 52 2
Lakeland Senior High School High Regular 2,139 117 5

Philip O'brien Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 43
2
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 52
2
GreatSchools Rating

Lakeland Senior High School

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

$295,200$360,800$328,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,139
Property Tax -$399
Property Insurance -$171
Property Management Fees -$129
CASH FLOW
-$138

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.

$328,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 11.2%
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-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,670

INVESTMENT

$92,670

Down Payment
$82,000
Rehab Estimate
$5,750
Closing Costs
$4,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,139

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,000
Loan Amount $246,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,995
$1,995
RENT COMPS ANALYSIS
  • 1420 Mockingbird Ln Lakeland, FL 1
    • 3 beds 2 baths ∙ 2,353 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,353 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 2112 Carolina Ave Lakeland, FL 2
    • 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 1953 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 1953
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
PROPERTY LISTING DETAILS
Kristi Lawrence
1.863.670.4265
Straight Up Realty & Pm Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4921136
Last Updated: 02/27/2021
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