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2159 Malachite Dr Lakeland, FL 33810

3 Beds 2 Baths 2,202 sqft Built 1992

$279,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $127.11
  • 88 Days on Market
  • MLS # : L4918837
  • Updated Date : 01/28/2021 at 14:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,202 sqft
  • Baths : 2 full
Listing Agent

Superior Property Mgmt & Sales

Listing Agent's Description

Location Location!!! This 3/2 home located in North Lakeland's Bloomfield Hills features a spacious family room with wood burning fireplace, updated master bathroom with jetted tub, screened in lanai and and open patio. This location is highly sought after and

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: Bloomfield Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300kPrice in $57k311k

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

Neighborhood: Bloomfield Hills

NeighborhoodNIR Market*CityMarket2015Year20092019 Q280090010001100120013001400150016001700180019002000Rent in $7652010

* 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
Sleepy Hill Elementary School Primary Regular 675 45 4
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

Sleepy Hill Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 45
4
GreatSchools Rating

Sleepy Hill Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 50
2
GreatSchools Rating

Kathleen Senior High School

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

$251,910$307,890$279,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$972
Property Tax -$308
Property Insurance -$162
HOA -$31
Property Management Fees -$129
CASH FLOW
-$12

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.

$279,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 5.8%
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$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$13,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5903$1,6004$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 2159 Malachite Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 2,202 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,202 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.72
    •  
  • 7170 Montreal Dr Lakeland, FL 1
    • 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 1995
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 6526 Bendelow Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2004
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 7320 Hunters Greene Cir Lakeland, FL 4
    • 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2004
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
  • 1966 Altavista Cir Lakeland, FL 5
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2008
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tracey Crews
1.863.698.1783
Superior Property Mgmt & Sales
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4918837
Last Updated: 01/28/2021
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