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2241 Flaming Arrow Dr Lakeland, FL 33813

3 Beds 2 Baths 1,803 sqft Built 1983

$254,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $141.38
  • 5 Days on Market
  • MLS # : L4918992
  • Updated Date : 11/02/2020 at 11:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,803 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This updated home is situated on a corner lot with a fenced in back yard and large walled court yard area. The back yard has a shed for storage and plenty of room to play! Walking into this 3 bedroom 2 bath home you will love the split plan, open living area, wood burning fireplace, updated kitchen, and bonus/sunroom. The updated kitchen has eating space/dining room, and is a great size and layout for entertaining. Call now to schedule your private showing. For the first 20 days, the property is offered to owner occupants only. During this period, the buyer must be willing to sign an owner occupancy disclosure.

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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: Arrowhead

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k264k

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

Neighborhood: Arrowhead

NeighborhoodNIR Market*CityMarket2015Year20092019 Q29501000105011001150120012501300135014001450150015501600Rent in $9081617

* 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
Valleyview Elementary School Primary Regular 726 45 8
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Valleyview Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 45
8
GreatSchools Rating

Lakeland Highlands Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 66
6
GreatSchools Rating

George W. Jenkins Senior High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 116
5
GreatSchools Rating
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$940
Property Tax -$280
Property Insurance -$139
Property Management Fees -$80
CASH FLOW
$160

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.

$254,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.63%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$34,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3993$1,4354$1,4755$1,600
$1,600
RENT COMPS ANALYSIS
  • 2241 Flaming Arrow Dr Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 2858 Blush Dr Lakeland, FL 1
    • 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,812 Sqft ∙ Built 2002
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 2782 Hickory Ridge Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2002
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.87
    •  
  • 2251 Arrowhead Blvd Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,953 Sqft ∙ Built 1983
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.73
    •  
  • 1974 Indian Trails Ct Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1981
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jana Lutz
1.863.602.8992
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4918992
Last Updated: 11/02/2020
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