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2463 Harrison Place Blvd Lakeland, FL 33810

4 Beds 3 Baths 2,422 sqft Built 2006

$250,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $103.22
  • 4 Days on Market
  • MLS # : L4920233
  • Updated Date : 01/23/2021 at 10:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,422 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

NEW ROOF INSTALLED IN 2019!!! This gorgeous 2 story home in Harrison Place on the north side of Lakeland is the perfect place for a growing family to love and cherish for years into the future. Harrison Place is a quiet subdivision where you can enjoy evening walks and still be just a short drive from shopping, dining, and entertainment options including the Lakeland Square Mall, movie theaters, and so much more! Beautiful landscaping with tropical touches adorn the exterior of the home. As you enter the home, the formal living room and split plan layout unfolds with its large gathering spaces, perfect for entertaining friends and family. The adjacent dining room flows neatly under archways into the kitchen which features solid wood cabinets, a breakfast nook with views of the backyard through glass sliders, and a large pantry providing additional storage. A separate family room is located on the first floor and is a great place to gather and spend time together with those you love. The main bedroom suite has an oversized walk-in closet with a dual sink vanity, garden tub, stand up shower, and separate water closet in the ensuite bathroom. Guests can enjoy another 3 bedrooms, a full bath with a tub/shower combo, as well as an additional half bath located on the first floor. Keep your Zoysia lawn looking pristine all year long with an upgraded Rachio Stage 2 Wifi irrigation system remote controlled from your cellular device. Contact us today to schedule a private showing!

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: Harrison Place

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $66k201k

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

Neighborhood: Harrison Place

NeighborhoodNIR Market*CityMarket2015Year20092019 Q295010001050110011501200125013001350140014501500Rent in $9081523

* 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
R. Clem Churchwell Elementary School Primary Regular 627 39 6
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

R. Clem Churchwell Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 39
6
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$868
Property Tax -$275
Property Insurance -$175
HOA -$38
Property Management Fees -$129
CASH FLOW
$95

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.

$250,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.5%
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$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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$20,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5803$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 2463 Harrison Place Blvd Lakeland, FL 2
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.65
    •  
  • 8448 Adele Rd Lakeland, FL 1
    • 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,566 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.58
    •  
  • 2451 Harrison Place Blvd Lakeland, FL 3
    • 5 beds 3 baths ∙ 2,180 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,180 Sqft ∙ Built 2006
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 2758 Berkford Cir Lakeland, FL 4
    • 4 beds 2 baths ∙ 2,257 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,257 Sqft ∙ Built 2006
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 3095 Fort Socrum Village Blvd Lakeland, FL 5
    • 4 beds 2 baths ∙ 2,534 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,534 Sqft ∙ Built 2005
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
PROPERTY LISTING DETAILS
Casandra Vann
1.863.221.4982
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920233
Last Updated: 01/23/2021
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