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3114 Forestbrook Dr N Lakeland, FL 33811

3 Beds 2 Baths 1,863 sqft Built 1973

$265,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $142.24
  • 3 Days on Market
  • MLS # : L4920750
  • Updated Date : 02/06/2021 at 14:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,863 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Check out this well maintained and beautifully updated South Lakeland pool home. This home is situated on a large lot, in a quiet neighborhood, with NO HOA!! The recently renovated kitchen features granite countertops, tons of wood cabinetry with a built-in Lazy Susan, energy efficient appliances, and a center island with bar seating. There’s plenty of space to entertain with 2 separate living areas and formal dining room. Outside you’ll find a large screened in enclosure with a recently resurfaced pool and attached hot tub. The pool pump is newly replaced and the patio equipped with lighting and ceiling fans. This home also has a large detached workshop and separate storage space. Off of the garage you’ll find a large laundry room with storage space and access to the back yard. AC replaced in 2016, and has a ten year warranty. Low E windows installed in 2009. Roof is 9 years old with the back 1/2 replaced last year while renovating the pool area. This home is a buyers dream!! Schedule your showing today.

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

Zip Code: 33811

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190kPrice in $70k198k

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

Zip Code: 33811

ZipNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081557

* 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. Bruce Wagner Elementary School Primary Regular 817 58 4
Southwest Middle School Middle Regular 852 52 2
George W. Jenkins Senior High School High Regular 2,319 116 5

R. Bruce Wagner Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 58
4
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 52
2
GreatSchools Rating

George W. Jenkins Senior High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 116
5
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$920
Property Tax -$291
Property Insurance -$143
Property Management Fees -$129
CASH FLOW
$77

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.

$265,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$20,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4754$1,5605$1,695
$1,695
RENT COMPS ANALYSIS
  • 3114 Forestbrook Dr N Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.84
    •  
  • 5123 Bonnybrook Dr W Lakeland, FL 1
    • 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 2868 Northbrook Ln Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 1237 Cherry Ln Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1961
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.83
    •  
  • 2326 Deerbrook Dr Lakeland, FL 5
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
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 #: L4920750
Last Updated: 02/06/2021
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