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2906 Jennifer Dr Lakeland, FL 33810

3 Beds 2 Baths 1,442 sqft Built 1990

$220,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $152.57
  • 3 Days on Market
  • MLS # : L4920377
  • Updated Date : 01/22/2021 at 10:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,442 sqft
  • Baths : 2 full
Listing Agent

Xcellence Realty, Inc

Listing Agent's Description

MOVE IN READY!! WELCOME HOME!! This Beautiful Well Cared For Home is Move In Ready! A Great Split 3 Bedroom 2 Bathroom Home on a Large Corner Lot. Once Inside You Will LOVE the Volume Ceilings & Open Floor Plan! Gorgeous Wood Ceramic Tile Throughout the House. The Kitchen Has Granite Counter tops, Newer Appliances & a Breakfast Bar. Inside Utility Room. Relax in Your Master Suite With an On-Suite Master Bathroom With a Dual Sink Vanity, Walk-in Closet, and Large Walk In Shower. The French Doors in the Dining Area Lead Out to the Relaxing Screened Back Porch, & Completely Fenced Backyard. There's a Gazebo With a Hot Tub for More Enjoyment. An Awesome Place for Entertaining or Enjoying Quiet Time. Lots of Room for Storage in the 2 Car Garage. The Backyard Has a Smithbuilt Shed/Workshop. Plenty of Room For a Garden, Swing Set or Nearly Anything Your Heart Desires. This Community is Close to Schools, Shopping & Restaurants. Call Today to Make Your Appointment to View This Gorgeous Slice of Florida Paradise!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Tangerine Trails

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190kPrice in $70k191k

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

Neighborhood: Tangerine Trails

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400Rent in $9081442

* 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. Clem Churchwell Elementary School Primary Regular 627 39 6
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

R. Clem Churchwell Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 39
6
GreatSchools Rating

Sleepy Hill Middle School

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

Kathleen Senior High School

  • Education Level: High
  • # of students: 2,124
  • # of teachers: 107
2
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$764
Property Tax -$242
Property Insurance -$118
HOA -$12
Property Management Fees -$129
CASH FLOW
$135

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.

$220,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.1%
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

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$24,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,197

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0503$1,4004$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 2906 Jennifer Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 2430 Cheshire Pl Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1979
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.71
    •  
  • 7949 Indian Heights Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.77
    •  
  • 2727 Jennifer Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1993
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 7507 Floral Cir W Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2003
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
PROPERTY LISTING DETAILS
Tammy Bryan
1.863.604.5590
Xcellence Realty, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920377
Last Updated: 01/22/2021
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