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2852 Prestwick Dr Lakeland, FL 33803

3 Beds 3 Baths 2,187 sqft Built 2000

INVESTimate

$335,000

List Price

$2,290

$2,061 - $2,519

Rent Est.

$356,105  ( +6.30%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $153.18
  • 8 Days on Market
  • MLS # : P4912089
  • Updated Date : 08/20/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,187 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nexthome Norris & Company Realty

Listing Agent's Description

Grasslands Golf & Country Club, a Pristine Gated Community in Lakeland. This 3 bedroom, 2.5 bathroom home is perfect for carefree living. With 2,187 SQFT of elegant living space, this home features; tall ceilings with recessed lighting, crown molding, & Plantation shutters. Double walk-in closets in the Master Bedroom along with a garden tub, separate walk-in shower and dual vanities. French Doors lead to the screen patio that overlooks a beautiful pond, perfect for entertaining! The kitchen features custom cabinetry with Granite counter tops and updated Stainless Steel Appliances. Out front offers a two-car garage with plenty of space for a golf cart, exterior columns & a covered front porch surrounded by mature landscaping. Other amenities include but are not limited to; Tennis, a community pool with a spa, Golf & Fitness. We would love to show you this fabulous home. Call us today to schedule a showing.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Grasslands

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $70k443k

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

Neighborhood: Grasslands

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2100012001400160018002000220024002600Rent in $9082669

* 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
Dixieland Elementary School Primary Regular 460 32 3
Sleepy Hill Middle School Middle Regular 816 50 2
Lakeland Senior High School High Regular 2,139 117 5

Dixieland Elementary School

  • Education Level: Primary
  • # of students: 460
  • # of teachers: 32
3
GreatSchools Rating

Sleepy Hill Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 50
2
GreatSchools Rating

Lakeland Senior High School

  • Education Level: High
  • # of students: 2,139
  • # of teachers: 117
5
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,236
Property Tax -$427
Property Insurance -$161
HOA -$279
Property Management Fees -$80
CASH FLOW
$107

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.

$335,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 6.30%
Maintenance Year (1-5) 8.00%
Vacancy 3.73%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$28,388

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,143

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,2003$2,290
$2,290
RENT COMPS ANALYSIS
  • 2852 Prestwick Dr Lakeland, 3
    • 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.05
    •  
  • 3321 Tawny Grove Pl Lakeland, 1
    • 4 beds 2 baths ∙ 1,867 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,867 Sqft ∙ Built 2017
    LEASED 03/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 2530 Laurel Glen Dr Lakeland, 2
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
PROPERTY LISTING DETAILS
Michael Norris
1.863.875.5583
Nexthome Norris & Company Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: P4912089
Last Updated: 08/20/2020
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