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270 Glenridge Loop S Lakeland, FL 33809

4 Beds 2 Baths 1,700 sqft Built 1994

$240,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $141.71
  • 3 Days on Market
  • MLS # : P4913564
  • Updated Date : 12/04/2020 at 16:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Dalton Wade, Inc.

Listing Agent's Description

Welcome home to this well-kept 4 bedroom, 2 bath, 2 car garage home with a SPLIT BEDROOM and OPEN FLOOR PLAN. This home features wood flooring in the main living & dining areas & tile in the entryway, kitchen & both bathrooms. The kitchen includes an eat-in dining space and a breakfast bar, as well as a pantry and plenty of cabinet and counter space. The bedrooms are situated in a tri-split plan, allowing for plenty of privacy for everyone. The master bedroom features a spacious walk-in closet and an ensuite master bathroom. The master bath features his & her sinks, separate shower, and a jacuzzi tub. The 2nd and 3rd bedrooms are on the opposite side of the home from the master and separated by the 2nd bathroom. The 4th bedroom sits solo on the front portion of the home off of the foyer. Not only is there an ample amount of living area inside, the home sits on almost 1/4 of an acre, with a fully fenced back yard, mature landscaping, a 26x10 screened porch with an outdoor kitchen and an 8x10 shed for extra storage. Other useful information to note: Septic serviced (pumped & cleaned) 2017, A/C replaced inside & outside 2018, Roof replaced in 2013 with 130 mph shingles, LOW HOA, Home is being sold AS-IS.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Glenridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k236k

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

Neighborhood: Glenridge

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081590

* 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
Edgar L. Padgett Elementary School Primary Regular 547 33 6
Lake Gibson Middle School Middle Regular 1,130 68 4
Lake Gibson Senior High School High Regular 1,834 92 3

Edgar L. Padgett Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 33
6
GreatSchools Rating

Lake Gibson Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 68
4
GreatSchools Rating

Lake Gibson Senior High School

  • Education Level: High
  • # of students: 1,834
  • # of teachers: 92
3
GreatSchools Rating
 

$216,810$264,990$240,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$889
Property Tax -$254
Property Insurance -$133
HOA -$8
Property Management Fees -$129
CASH FLOW
$47

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.

$240,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 10.4%
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$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,589

INVESTMENT

$69,589

Down Payment
$60,225
Rehab Estimate
$5,750
Closing Costs
$3,614

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$889

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,225
Loan Amount $180,675
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,415

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,3503$1,3954$1,4505$1,460
$1,460
RENT COMPS ANALYSIS
  • 270 Glenridge Loop S Lakeland, FL 5
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.86
    •  
  • 323 Fox Lake Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2003
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.74
    •  
  • 8603 Tara Pl Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1988
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 142 Lindale St Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1999
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 7163 Heatherbrook Dr Lakeland, FL 4
    • 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 2013
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lisa Matheny
1.863.412.6633
Dalton Wade, Inc.
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: P4913564
Last Updated: 12/04/2020
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