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2298 Couples Dr Lakeland, FL 33813

3 Beds 2 Baths 2,018 sqft Built 2000

$279,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $138.26
  • 2 Days on Market
  • MLS # : P4914152
  • Updated Date : 01/23/2021 at 23:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,018 sqft
  • Baths : 2 full
Listing Agent

Lakefront Investment Realty

Listing Agent's Description

New roof January 2021!!! Do not miss this house in a quiet, well kept neighborhood. Features a split bedroom plan. Large kitchen with bar seating and room for kitchen table to seat large families. Kitchen opens to back family room, and dining room to front living room. Big master en suite bathroom with dual sinks, shower, separate garden tub, and toilet with a door. Features large backyard screened in patio with room for lots of patio furniture and grill. Neighborhood in sought after location for schools and nearby stores. Less than one mile from Publix, Walgreens, CVS, and gas stations. Zoned for George Jenkins Highschool. Less than 4 miles to Polk County parkway 570 Sam's Club, Lowes, and restaurants.

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: Colony Club Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $70k290k

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

Neighborhood: Colony Club Estates

NeighborhoodNIR Market*CityMarket2015Year20092019 Q21000110012001300140015001600170018001900Rent in $9081926

* 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
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$969
Property Tax -$307
Property Insurance -$151
Property Management Fees -$129
CASH FLOW
$84

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.

$279,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$23,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 2298 Couples Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.81
    •  
  • 2426 Colonel Ford Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2002
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 2930 Hickory Ridge Dr Lakeland, FL 3
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2002
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 6233 Napa Dr Lakeland, FL 4
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2002
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 2123 Glen Heights Pl Lakeland, FL 5
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1996
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kimberly Saddler
1.863.221.0604
Lakefront Investment Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: P4914152
Last Updated: 01/23/2021
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