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2915 Stonewood Cir Lakeland, FL 33810

3 Beds 2 Baths 1,835 sqft Built 2012

$244,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $133.46
  • 5 Days on Market
  • MLS # : L4919032
  • Updated Date : 11/05/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Qualify for 100% financing with this marvelous residence. A wonderfully charming and beautiful home nestled in a picturesque & quaint little neighborhood. Shows like a band new builder model home. Tasteful & modern amenities that are in perfect condition. Newer laminate floors throughout. Vaulted ceilings and an open floor plan give you the feeling of sprawling space. Spacious eat-in kitchen overlooks living room so you can continue to entertain while whipping up that secret recipe in the kitchen! Screen patio overlooks large back yard with custom playset for the kids to enjoy.

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: Stonewood

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $57k232k

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

Neighborhood: Stonewood

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2800900100011001200130014001500Rent in $7651556

* 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
Griffin Elementary School Primary Regular 476 29 2
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

Griffin Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 29
2
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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$904
Property Tax -$269
Property Insurance -$141
HOA -$28
Property Management Fees -$80
CASH FLOW
$58

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.

$244,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.5%
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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$21,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,486

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4803$1,4954$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2915 Stonewood Cir Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.81
    •  
  • 3801 Wildcat Run Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1992
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 3556 Sleepy Hill Oaks Blvd Lakeland, FL 3
    • 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,809 Sqft ∙ Built 2005
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 1966 Altavista Cir Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2008
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 2014 Altavista Cir Lakeland, FL 5
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2014
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Gate Arty
1.863.680.9988
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919032
Last Updated: 11/05/2020
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