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3040 Wentworth Pl Lakeland, FL 33810

4 Beds 2 Baths 1,696 sqft Built 2005

$250,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $147.41
  • 3 Days on Market
  • MLS # : L4919113
  • Updated Date : 11/07/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

S & D Real Estate Service Llc

Listing Agent's Description

This stunning 4 bedroom,2 bathroom, 2 car garage home is located in the highly sought after community of Copper Ridge Terrace in North Lakeland. This amazing open floor plan has a newer roof(2018), crown molding, niches in foyer, dining room and kitchen, gutters, sprinkler system, includes all appliances including the washer and dryer, just to name a few. The kitchen with snack bar and breakfast nook is open to the great room and dining which is perfect for entertaining. The master suite offers a walk-in closet, garden tub, separate shower, double sinks and separate water closet. Split bedroom floor plan with 3 additional bedrooms and gust bath with tub/shower combo. Triple sliding glass doors from the great room, open to a gorgeous oversized lanai, perfect for morning coffee, entertaining or enjoying our beautiful Florida weather. The hot tub is even included! This home is situated on a cul-de-sac with no rear neighbors which create the most spectacular view. Absolutely the most amazing outdoor space. Convenient to shopping, restaurants, medical and I-4. Call for your private showing today!

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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: Copper Ridge Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $40k236k

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

Neighborhood: Copper Ridge Terrace

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081590

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$922
Property Tax -$275
Property Insurance -$133
HOA -$33
Property Management Fees -$80
CASH FLOW
-$74

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.

$250,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 3.73%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,327

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3703$1,4354$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 3040 Wentworth Pl Lakeland, FL 2
    • 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.81
    •  
  • 2467 Hamlet Cir Lakeland, FL 1
    • 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,548 Sqft ∙ Built 2007
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.74
    •  
  • 2921 Dunhill Cir Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 2006
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.84
    •  
  • 8168 Westmont Terrace Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 7378 Huntington Summit Blvd Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2006
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
PROPERTY LISTING DETAILS
Bob Karpus
1.863.529.2535
S & D Real Estate Service Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919113
Last Updated: 11/07/2020
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