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

2860 Whitney St Lakeland, FL 33813

4 Beds 3 Baths 2,312 sqft Built 2014

INVESTimate

$335,000

List Price

$1,900

$1,710 - $2,090

Rent Est.

$357,981  ( +6.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $144.90
  • 3 Days on Market
  • MLS # : L4917640
  • Updated Date : 08/25/2020 at 04:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,312 sqft
  • Baths : 3 full
Listing Agent

S & D Real Estate Service Llc

Listing Agent's Description

Welcome home to this well maintained 4 bedroom, 3 bath home located in this South Lakeland Gated Community. Hartford Estates Phase II is a great community and located near shopping, US 98 and approximately 7 miles from Downtown Lakeland, just over 5 miles from Lakeside Village Outdoor Shopping. This home has tile and laminate in the main high traffic areas and in one bedroom. Carpet that is well kept is in the other bedrooms and the laminate could easily be match by the new home owner. Located in Polk county you have city amenities, under ground utilities, fiber optics, public water and sewer (Polk County Utilities). This home's exterior was just painted about 2 years ago and is in great condition. Let's think about the little things that make a big difference. Radiant Barrier and Foam inside the Concrete Blocks adds extra insulation and helps keep outside noise outside. You will own your reverse osmosis water system in the kitchen for your family. A water softener is also a part of this home. This home has room out back for you to use your imagination and add a pool or other outdoor living area. The fenced rear yard offers plenty of privacy. Tampa and Orlando international airports are about an hour from Lakeland. Lakeland is also home to Lakeland Linder International Airport and Sun N Fun. The Tigers Minor League team also calls Lakeland Home. This community is well known for great neighbors, friendly but not nosy or gossipy, those are the best kind. Thinking about Health Care, Watkins Clinic and Lakeland Regional Hospital, Bartow Hospital offer stellar health care. Thinking about higher Education? Lakeland is home to Florida Southern College, South Eastern University, Polk State and Florida Polytechnic University. Lakeland has a vibrate local business community and local restaurants that can fill almost any cuisine wish. If you are looking for a move in ready home, located in a great neighborhood well you have found your home. Contact one of us to schedule your private or virtual tour.

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: Hartford Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $70k331k

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

Neighborhood: Hartford Estates

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2100011001200130014001500160017001800190020002100Rent in $9082121

* 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
Valleyview Elementary School Primary Regular 726 45 8
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Valleyview Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 45
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
 

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

PURCHASE PRICE

$1,710$2,090$1,900

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 $1,900
EXPENSES Loan Payment -$1,236
Property Tax -$368
Property Insurance -$168
HOA -$29
Property Management Fees -$80
CASH FLOW
$18

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

$1,900

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 6.86%
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

5.5

YEARS SAVED

$23,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,896

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9004$2,0005$2,175
$2,175
RENT COMPS ANALYSIS
  • 2860 Whitney St Lakeland, 3
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 6830 Hartsworth Dr Lakeland, 1
    • 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,297 Sqft ∙ Built 2008
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 6853 Bushnell Dr Lakeland, 2
    • 4 beds 3 baths ∙ 2,482 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,482 Sqft ∙ Built 2006
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 2868 Sheldon St Lakeland, 4
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2007
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 2634 Highlands Creek Way Lakeland, 5
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2018
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jim Hampton
1.863.266.5666
S & D Real Estate Service Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4917640
Last Updated: 08/25/2020
BESbswy