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1877 Stella Ct S Lakeland, FL 33813

3 Beds 2 Baths 2,052 sqft Built 1978

$289,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $141.28
  • 4 Days on Market
  • MLS # : L4920996
  • Updated Date : 02/19/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,052 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

3 Bedroom, 2 Bathroom Home Located in South Lakeland - *NO HOA*. The kitchen features gorgeous solid wood cabinetry, granite countertops, and breakfast bar. This home offers well sized bedrooms, spacious living areas, and a master bedroom with en suite bathroom. This property has a huge backyard complete with a deck, landscaping, and can even accommodate RV/Boat Parking. *NEW ROOF* This one won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Live Oak Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k270k

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

Neighborhood: Live Oak Heights

NeighborhoodNIR Market*CityMarket2015Year20092019 Q210001100120013001400150016001700Rent in $9081727

* 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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,007
Property Tax -$353
Property Insurance -$153
Property Management Fees -$129
CASH FLOW
-$62

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.

$289,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4954$1,5805$1,650
$1,650
RENT COMPS ANALYSIS
  • 1877 Stella Ct S Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.77
    •  
  • 2014 Charnes Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1974
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 1116 E Devonshire Ln Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1985
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 1627 Rose Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1972
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 4660 Sherwood Ln Lakeland, FL 5
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1968
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
PROPERTY LISTING DETAILS
Alvaro Jarquin Bernard
1.863.640.2772
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920996
Last Updated: 02/19/2021
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