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1621 Stacy Dr Lakeland, FL 33805

3 Beds 2 Baths 1,412 sqft Built 1976

$179,500

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $127.12
  • 3 Days on Market
  • MLS # : L4920829
  • Updated Date : 02/13/2021 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This cozy, inviting home was dearly loved by the previous owners, and it’s easy to understand why. The kitchen has been renovated with gorgeous solid wood cabinetry and granite counters, taking best advantage of the space. The same solid wood cabinetry has been used in the dining to create a gorgeous built-in, which includes a spacious sideboard. The master bath has been renovated to perfection with a gorgeous marble floor and shower. Other rooms are all generously sized, with good storage and no wasted space. The AC is newer. The driveway has been expanded for additional parking. The property backs up to a canal that goes to Lake Parker. In so many ways, this home says welcome home!

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Combee Settlement

NeighborhoodNIR Market*CityMarket2010Year2000201950k60k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $42k185k

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

Neighborhood: Combee Settlement

NeighborhoodNIR Market*CityMarket2015Year20092019 Q270075080085090095010001050110011501200125013001350Rent in $6871380

* 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
Crystal Lake Middle School Middle Magnet 942 61 3
Tenoroc High School High Regular 1,170 72 2

Philip O'brien Elementary School

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

Crystal Lake Middle School

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

Tenoroc High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 72
2
GreatSchools Rating
 

$161,550$197,450$179,500

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$623
Property Tax -$233
Property Insurance -$117
Property Management Fees -$129
CASH FLOW
$128

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.

$179,500

PROJECTED PRICE

$1,230

PROJECTED RENT

0.69%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,318

INVESTMENT

$53,318

Down Payment
$44,875
Rehab Estimate
$5,750
Closing Costs
$2,693

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$623

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,875
Loan Amount $134,625
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$20,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,214

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$925
1$9252$1,1953$1,2304$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 1621 Stacy Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.87
    •  
  • 2522 Mccranie Pl Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,129 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,129 Sqft ∙ Built 1965
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $925
    • $0.82
    •  
  • 3415 Oakland Rd N Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1995
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.90
    •  
  • 2722 Aldine Cir Lakeland, FL 4
    • 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,536 Sqft ∙ Built 1961
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 1301 Magdalene Ct E Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1972
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
PROPERTY LISTING DETAILS
Janet Shearer
1.863.698.2345
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920829
Last Updated: 02/13/2021
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