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2016 W Elliott St Lakeland, FL 33805

3 Beds 2 Baths 1,110 sqft Built 2006

$169,900

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $153.06
  • 6 Days on Market
  • MLS # : L4920367
  • Updated Date : 01/23/2021 at 13:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Nice Clean and Very Well Maintained 3 Bedrooms and 2 Full Baths Home. Single Car Garage, Built in 2006. Newer AC. Dining Room Kitchen Combination, Large Family Room. Close to I-4 and Downtown Lakeland. All measurements and sizes are approximate and not guaranteed, any information contained herein critical to Buyer purchasing decisions, must be verified by buyers.

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: Kathleen

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180kPrice in $35k185k

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

Neighborhood: Kathleen

NeighborhoodNIR Market*CityMarket2015Year20092019 Q270075080085090095010001050110011501200125013001350Rent in $6601380

* 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
Griffin Elementary School Primary Regular 476 29 2
Kathleen Middle School Middle Regular 764 42 4
Kathleen Senior High School High Regular 2,124 107 2

Griffin Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 29
2
GreatSchools Rating

Kathleen Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 42
4
GreatSchools Rating

Kathleen Senior High School

  • Education Level: High
  • # of students: 2,124
  • # of teachers: 107
2
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$590
Property Tax -$207
Property Insurance -$99
Property Management Fees -$129
CASH FLOW
$125

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.

$169,900

PROJECTED PRICE

$1,150

PROJECTED RENT

0.68%

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

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$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

8.92

YEARS SAVED

$20,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $999

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$1,1503$1,150
$1,150
RENT COMPS ANALYSIS
  • 2016 W Elliott St Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.04
    •  
  • 3476 Justin David Ct Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.77
    •  
  • 1682 E Blossom Cir Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1995
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jack Miller
1.863.581.6957
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920367
Last Updated: 01/23/2021
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