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2123 Woodburn Loop S Lakeland, FL 33813

3 Beds 2 Baths 1,257 sqft Built 1980

$189,900

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $151.07
  • 3 Days on Market
  • MLS # : L4919012
  • Updated Date : 11/02/2020 at 19:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,257 sqft
  • Baths : 2 full
Listing Agent

Remax Paramount Properties

Listing Agent's Description

Beautifully updated home in sought after South Lakeland community. All new paint inside and out. Both bathrooms have been tastefully updated, all flooring has been upgraded to either ceramic tile or laminate. Great room features working fireplace and opens to amazing patio area overlooking large pond. No rear neighbors ever! Close to all shopping and amenities.

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: Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $67k236k

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

Neighborhood: Meadows

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2900100011001200130014001500Rent in $8381590

* 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
Crystal Lake Middle School Middle Magnet 942 61 3
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

Crystal Lake Middle School

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

Lakeland Senior High School

  • Education Level: High
  • # of students: 2,139
  • # of teachers: 117
5
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$701
Property Tax -$231
Property Insurance -$108
Property Management Fees -$80
CASH FLOW
$1

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.

$189,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.59%

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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$12,459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,125

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,2953$1,2954$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 2123 Woodburn Loop S Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.89
    •  
  • 4619 Valley View Dr W Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1977
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
  • 3907 Foxcroft Ct Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1980
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.92
    •  
  • 2154 Sunstone Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1999
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 3833 Woodburn Loop W Lakeland, FL 5
    • 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,475 Sqft ∙ Built 1981
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
PROPERTY LISTING DETAILS
Kara Severit
1.863.698.2022
Remax Paramount Properties
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919012
Last Updated: 11/02/2020
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