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1515 Hallam Ct S Lakeland, FL 33813

4 Beds 3 Baths 2,067 sqft Built 1973

$319,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $154.77
  • 2 Days on Market
  • MLS # : L4923799
  • Updated Date : 07/12/2021 at 17:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,067 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

This 4 bedroom, 2.5 bathroom home is located on a quiet, well-maintained street. You'll be greeted by the terrazzo front porch and double-door entry. As you step inside, the home offers a large formal living room and dining room. The spacious kitchen offers wood cabinets and a window over the sink, peeking into the backyard. The kitchen opens to the family room that features wood floors, a wood-burning fireplace and sliding doors leading to the screened-in patio. The half bath is conveniently located just off the kitchen as well as the inside laundry. The laundry area offers cabinets for extra storage and an entry/exit to the backyard. The paver pad just off this entry is the perfect place for grilling! The fenced-in backyard has mature landscaping that offers privacy and a sense of being away from it all. In addition to the amazing location, this well-maintained home has a Generac system (installed in 2020)!! You never have to worry about losing power again! The roof was replaced in 2019, the AC in 2018, the carpets have been freshly cleaned, and the septic tank was just pumped.

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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: Hallam Court

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k270k

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

Neighborhood: Hallam Court

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081590

* 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
Highlands Grove Elementary School Primary Regular 731 44 8
Lakeland Highlands Middle School Middle Regular 1,217 66 6
Lakeland Senior High School High Regular 2,139 117 5

Highlands Grove Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 44
8
GreatSchools Rating

Lakeland Highlands Middle School

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

Lakeland Senior High School

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

$287,910$351,890$319,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,111
Property Tax -$389
Property Insurance -$154
Property Management Fees -$129
CASH FLOW
-$63

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.

$319,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,674

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,6504$1,7205$1,795
$1,795
RENT COMPS ANALYSIS
  • 1515 Hallam Ct S Lakeland, FL 4
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.83
    •  
  • 1116 E Devonshire Ln Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1985
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 4656 Valley View Dr E Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1975
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 4660 Sherwood Ln Lakeland, FL 3
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1968
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 4412 Hallam Hill Ln Lakeland, FL 5
    • 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 1977
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
PROPERTY LISTING DETAILS
Gate Arty
1.863.680.9988
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4923799
Last Updated: 07/12/2021
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