Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2829 Forestgreen Dr N Lakeland, FL 33811

4 Beds 3 Baths 1,794 sqft Built 1984

$265,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $147.71
  • 6 Days on Market
  • MLS # : P4913221
  • Updated Date : 11/06/2020 at 14:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,794 sqft
  • Baths : 3 full
Listing Agent

Brokers Realty Of Central Flor

Listing Agent's Description

The property you are inquiring about is located in Lakeland, FL in the Forestgreen area of Polk West. This is a newly updated 4 bedroom, 3 bathroom pool home with a triple split plan. Living/dining area combo-large galley granite/stainless kitchen, HUGE laundry-one canvas canopy, one storage shed, fenced yard, and pool! The floor plan screams Air BNB and NO HOA-in this lovely subdivision, almost 1/2 acre lot-is Seriously Insane! Love the location close to West...Tampa...I-4 Corridor...Plant City...Lakeland-AMAZON!

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: Forestgreen

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $70k185k

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

Neighborhood: Forestgreen

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400Rent in $9081406

* 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. Bruce Wagner Elementary School Primary Regular 817 58 4
Southwest Middle School Middle Regular 852 52 2
George W. Jenkins Senior High School High Regular 2,319 116 5

R. Bruce Wagner Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 58
4
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 52
2
GreatSchools Rating

George W. Jenkins Senior High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 116
5
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$978
Property Tax -$291
Property Insurance -$139
Property Management Fees -$80
CASH FLOW
-$48

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.

$265,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$12,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,426

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4004$1,4405$1,500
$1,500
RENT COMPS ANALYSIS
  • 2829 Forestgreen Dr N Lakeland, FL 4
    • 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,794 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.80
    •  
  • 5123 Bonnybrook Dr W Lakeland, FL 1
    • 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 2868 Northbrook Ln Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 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
    •  
  • 5749 Deer Tracks Trl Lakeland, FL 5
    • 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,015 Sqft ∙ Built 2004
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
PROPERTY LISTING DETAILS
Renee Butler
1.863.294.6773
Brokers Realty Of Central Flor
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: P4913221
Last Updated: 11/06/2020
BESbswy