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2827 Gary Ln Lakeland, FL 33813

3 Beds 2 Baths 1,600 sqft Built 1973

$219,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $137.44
  • 3 Days on Market
  • MLS # : L4919118
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Webpro Realty, Llc

Listing Agent's Description

Welcome home! This home is in USDA area! Move right in to this well kept home, tucked away but close to everything in the HIGHLANDS SOUTH HOA free community. As you enter you are greeted by the light and bright living area that has brand new flooring. The kitchen /dining area opens to an enclosed porch leading out to generously sized back yard that is completely fenced. The bonus room is perfect for a play room, office or craft room. This is a 3 bedroom 2 bathroom home. In the master you will find an updated shower and walk in closet. This home is convenient to Polk Parkway, shopping Orlando and Tampa area attractions. Schedule your in person or socially distanced showing today. More photos to come

SEE MORE

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: Highlands South

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190kPrice in $70k191k

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

Neighborhood: Highlands South

NeighborhoodNIR Market*CityMarket2015Year20092019 Q29501000105011001150120012501300135014001450Rent in $9081476

* 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
Highlands Grove Elementary School Primary Regular 731 44 8
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Highlands Grove Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 44
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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$811
Property Tax -$242
Property Insurance -$127
Property Management Fees -$80
CASH FLOW
$189

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.

$219,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$35,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,280

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,4503$1,4504$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 2827 Gary Ln Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 5235 Martinique Dr Lakeland, FL 1
    • 3 beds 3 baths ∙ 1,260 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,260 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.79
    •  
  • 2014 Charnes Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1974
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 1627 Rose Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1972
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 3917 Bent Tree Loop E Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 1980
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
PROPERTY LISTING DETAILS
Tammy Schneider
1.863.409.5677
Webpro Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919118
Last Updated: 11/07/2020
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