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1693 Kinsman Way Lakeland, FL 33809

4 Beds 2 Baths 1,779 sqft Built 2002

$255,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $143.84
  • 3 Days on Market
  • MLS # : L4919541
  • Updated Date : 12/11/2020 at 20:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,779 sqft
  • Baths : 2 full
Listing Agent

Paige Wagner Homes Realty

Listing Agent's Description

WELCOME HOME! Ring in the new year with this freshly painted move-in-ready 4 bedroom 2 bath home! Looking for that home with potential for an office, eat-in kitchen nook, separate dining/living combo, and no neighbors behind you, then look no longer! Minutes from shopping, restaurants, and I4 this home is nestled in a perfect quaint neighborhood. Savor your coffee on the porch in the morning, and relax in peace those late evenings on the patio with the serene view of wetland and beautiful wooded landscape. New water heater 2019, New Trane AC 2018, and New Septic system 2020! Easy to show, so schedule your showing while this home last! Property has been virtually staged in some photos.

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: Manors of Nottingham

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $70k242k

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

Neighborhood: Manors of 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
 

$230,310$281,490$255,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$944
Property Tax -$281
Property Insurance -$138
HOA -$16
Property Management Fees -$129
CASH FLOW
-$78

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.

$255,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.56%

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,564

INVESTMENT

$73,564

Down Payment
$63,975
Rehab Estimate
$5,750
Closing Costs
$3,839

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$944

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,975
Loan Amount $191,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,437

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,4003$1,4304$1,4955$1,650
$1,650
RENT COMPS ANALYSIS
  • 1693 Kinsman Way Lakeland, FL 3
    • 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.80
    •  
  • 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
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.75
    •  
  • 2104 Farrington Dr Lakeland, FL 2
    • 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.71
    •  
  • 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
    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
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Melissa Riesenberg
1.859.534.5455
Paige Wagner Homes Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919541
Last Updated: 12/11/2020
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