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210 Wildwood Ave Lakeland, FL 33809

3 Beds 2 Baths 1,978 sqft Built 1964

$225,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $113.75
  • 5 Days on Market
  • MLS # : L4921549
  • Updated Date : 03/18/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,978 sqft
  • Baths : 2 full
Listing Agent

Premier Realty Network, Inc

Listing Agent's Description

RANCH STYLE HOME in NE Lakeland offers 4 or 5 bedrooms (game room is currently utilized as a bedroom). Roof replaced in 2010, AC compressor replaced in 2016 and AirHandler replaced in 2018. Some TLC will go a long way to revitalize this well built home. Convenient location to many major transportation corridors, Near Lake Gibson for the boating enthusiast. Currently tenant occupied and tenants will vacate with 30 days notice once inspections and other contingencies are cleared or will stay at the buyers option. The backyard storage shed DOES NOT convey.

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MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Gibson Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $70k189k

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

Neighborhood: Gibson Park

NeighborhoodNIR Market*CityMarket2015Year20092019 Q295010001050110011501200125013001350Rent in $9081399

* 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
Edgar L. Padgett Elementary School Primary Regular 547 33 6
Lake Gibson Middle School Middle Regular 1,130 68 4
Lake Gibson Senior High School High Regular 1,834 92 3

Edgar L. Padgett Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 33
6
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$782
Property Tax -$247
Property Insurance -$149
Property Management Fees -$129
CASH FLOW
$93

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.

$225,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 7.1%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$20,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,470

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,5254$1,550
$1,550
RENT COMPS ANALYSIS
  • 210 Wildwood Ave Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.71
    •  
  • 490 Old Polk City Rd Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1972
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.73
    •  
  • 440 Hopkins St Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1960
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.83
    •  
  • 5801 Poinciana Ave Lakeland, FL 4
    • 4 beds 2 baths ∙ 2,305 Sqft ∙ Built 1960 4 beds 2 baths ∙ 2,305 Sqft ∙ Built 1960
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
PROPERTY LISTING DETAILS
Jeri Thom
1.863.602.1881
Premier Realty Network, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4921549
Last Updated: 03/18/2021
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