Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1563 Archers Path Lakeland, FL 33809

3 Beds 2 Baths 1,681 sqft Built 1989

$239,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $142.71
  • 3 Days on Market
  • MLS # : L4919385
  • Updated Date : 11/21/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 2 full
Listing Agent

Tribute Realty Llc

Listing Agent's Description

Be greeted by natural light with the front door transom window in the foyer. This great split floor plan home features a nest thermostat and the garage door opener is Wi-Fi enabled as well. There are tons of storage closets in this home. The home boasts tile floors in the main living areas: family, dining, kitchen, laundry, and bathrooms. Each bedrooms has carpet and features custom closet shelving. Enjoy doing laundry in this laundry room because of the folding counter. Garage shelving is negotiable. The master bedroom opens to the back screened lanai which goes out to your fenced back yard. The storage shed is staying. *Buyer to verify dimensions

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: Nottingham

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k236k

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

Neighborhood: Nottingham

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
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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$885
Property Tax -$264
Property Insurance -$132
HOA -$13
Property Management Fees -$80
CASH FLOW
-$3

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.

$239,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 7.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,412

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3703$1,4854$1,4955$1,650
$1,650
RENT COMPS ANALYSIS
  • 1563 Archers Path Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.81
    •  
  • 1123 Ridgegreen Loop N Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1987
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 1018 Odoniel Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1987
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.84
    •  
  • 1529 Morning Dove Ct Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,962 Sqft ∙ Built 1989
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 1251 Timberidge Dr Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1988
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Mindy Emerson-hunley
1.863.669.0528
Tribute Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919385
Last Updated: 11/21/2020
BESbswy