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2810 John David Pl Lakeland, FL 33811

3 Beds 2 Baths 2,028 sqft Built 1977

$285,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $140.53
  • 4 Days on Market
  • MLS # : L4920557
  • Updated Date : 01/29/2021 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,028 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Looking for a beautiful home with updates throughout! This SW Lakeland home has an effective year of 2015, boasts a .51 acre lot with a Workshop with electric, and was completely remodeled and updated from top to bottom in 2017. Those updates included New Well tank, pump & purification equipment 17', Brand New Roof 17', New Septic and Drain field 17', interior and exterior paint, new kitchen from the studs out, High end Granite in all baths and kitchen, TONS of storage in these Gorgeous WOOD cabinets, FARM SINK with Bronze hardware , Tile Floors in all wet areas, Indoor laundry with utility sink, closet pantry space and a rear entry. New knockdown ceiling texture updated paint and lighting with fans in each room, Insulated windows, plumbing updates , electrical updates, newer Stainless appliances. Great Location, close to everything! Friendly neighborhood with a cul-de-sac ! NO HOA!! RV OR BOAT PARKING in side yard. 3 Spacious bedrooms, 2 Full baths. A Living Rm. , Family rm. and DEN with a fireplace that is ideal to use as a 4th bedroom! The Bright and inviting Dining room is just off the kitchen and flows into the living space. This home has it all! The seller installed a new deck and cover off the rear of the home perfect for entertaining. This home is MOVE IN READY!!

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: Medulla

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $70k206k

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

Neighborhood: Medulla

NeighborhoodNIR Market*CityMarket2015Year20092019 Q295010001050110011501200125013001350Rent in $9081389

* 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
James W. Sikes Elementary School Primary Regular 873 58 5
Mulberry Middle School Middle Regular 1,035 57 4
Mulberry Senior High School High Regular 1,056 58 4

James W. Sikes Elementary School

  • Education Level: Primary
  • # of students: 873
  • # of teachers: 58
5
GreatSchools Rating

Mulberry Middle School

  • Education Level: Middle
  • # of students: 1,035
  • # of teachers: 57
4
GreatSchools Rating

Mulberry Senior High School

  • Education Level: High
  • # of students: 1,056
  • # of teachers: 58
4
GreatSchools Rating
 

$256,500$313,500$285,000

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 -$990
Property Tax -$313
Property Insurance -$152
Property Management Fees -$129
CASH FLOW
-$4

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.

$285,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$15,076

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
  • $0.78

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3953$1,4004$1,5805$1,695
$1,695
RENT COMPS ANALYSIS
  • 2810 John David Pl Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.78
    •  
  • 5036 Copperstone Cir Mulberry, FL 1
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1986
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.64
    •  
  • 5685 Pheasant Dr Mulberry, FL 2
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1974
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 2547 Six Point Ct Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1993
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 2326 Deerbrook Dr Lakeland, FL 5
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
PROPERTY LISTING DETAILS
Craig Burke
1.863.899.5010
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920557
Last Updated: 01/29/2021
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