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2921 Orchid Ln Lakeland, FL 33805

3 Beds 2 Baths 1,304 sqft Built 1998

$190,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $145.71
  • 4 Days on Market
  • MLS # : L4919148
  • Updated Date : 11/14/2020 at 15:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,304 sqft
  • Baths : 2 full
Listing Agent

S & D Real Estate Service Llc

Listing Agent's Description

You won’t find an HOA at this adorable 3/2 split plan block home but you will find plenty of parking here because you have a 3 car wide driveway perfect for parking a smaller RV, boat or trailer. The welcoming front entryway has an adorable outside patio area. This kitchen offers a breakfast bar and eat-in dining area. All kitchen appliances stay and there is a new garbage disposal. Solid surface countertops in the kitchen and hall bathroom. French doors with blinds open from the dining / kitchen area onto the screened-in patio. Cathedral ceilings in the living room and you have ceiling fans throughout. The master bathroom vanity has plenty of c-top space and the bedroom offers a walk-in closet. Hall bathroom offers shower/tub combo. Here you also have plenty of storage room from the deep garage, attic space & storage shed. The front door to the house has a screened door too so when you open windows and the french doors to the patio you get the greatest breeze through the house! The home has an inside utility/laundry room with a shelve and a closet pantry as well. This laundry room is conveniently located between the garage and kitchen. The back yard is fully fenced with newer wood fencing. Here you also have a nice 10x16 shed for all your yard toys, tools and extra storage needs. The shed has electric perfect for a workshop and/or storage. The lovely screened-in patio has a concrete knee wall and an insulated panel ceiling for comfort. In the garage you have attic access with a pull down ladder. The ROOF is approx 2 years new. The A/C approx 5 years new. Windows approx 7 yrs. This home has a deep 2 car garage with a new garage door opener that was replaced in 2019. The garage also has a keyless entry touchpad and the front door also has a touchpad door lock. There are newer gutters on the home, motion lights on the front of the shed and daylight sensor bulbs on the corner of the house. The home has had all new top of the line tile flooring in the living room and bedrooms. You don’t have any carpet in the home! You don’t want to miss this adorable house that shows it has been very well taken care of. Sellers have It will go FAST! This property is within .5 mile to Saddle Creek Corp/Logistics and conveniently located to Interstate 4 taking you to Tampa/Orlando.

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: Wilson Acres

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $57k185k

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

Neighborhood: Wilson Acres

NeighborhoodNIR Market*CityMarket2015Year20092019 Q280085090095010001050110011501200125013001350Rent in $7651380

* 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
Philip O'brien Elementary School Primary Regular 583 43 2
Crystal Lake Middle School Middle Magnet 942 61 3
Tenoroc High School High Regular 1,170 72 2

Philip O'brien Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 43
2
GreatSchools Rating

Crystal Lake Middle School

  • Education Level: Middle
  • # of students: 942
  • # of teachers: 61
3
GreatSchools Rating

Tenoroc High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 72
2
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$701
Property Tax -$209
Property Insurance -$111
Property Management Fees -$80
CASH FLOW
$170

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.

$190,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 7.3%
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

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$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$31,249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,261

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2703$1,3154$1,395
$1,395
RENT COMPS ANALYSIS
  • 2921 Orchid Ln Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.97
    •  
  • 3415 Oakland Rd N Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1995
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.90
    •  
  • 2413 Timbercreek Loop E Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1990
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.83
    •  
  • 2874 Woodcrest Ln Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1980
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.17
    •  
PROPERTY LISTING DETAILS
Jennifer Smith
1.863.559.1229
S & D Real Estate Service Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919148
Last Updated: 11/14/2020
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