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3121 Filly Ln Lakeland, FL 33811

3 Beds 2 Baths 1,272 sqft Built 1994

$234,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $184.67
  • 4 Days on Market
  • MLS # : T3273268
  • Updated Date : 11/14/2020 at 10:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

NEW ROOF! NEW AC! SUPER LOW HOA! So many UPGRADES!!!! You must see this beautiful remodeled high-end modern 3/2 home in the Steeplechase subdivision. The kitchen features a newly installed bevel cut ivory blend REAL GRANITE countertops, large farmhouse stainless sink with duo spout commercial faucet and new badger garbage disposal, matching high end SAMSUNG brand stainless French door refrigerator, dishwasher, microwave AND stove! Kitchen cabinets are ALL NEW luxury vanilla wood glazed soft close cabinets. Pergo waterproof laminate floors throughout. Bedrooms are spacious and Master and guest bathrooms have been updated with designer vanities, tile and LED lighted water faucets and shower heads! Large garage and extended driveway will easily accommodate two large vehicles. Backyard and screened in porch is perfect for outdoor entertaining and gathering with friends and family. This home is located in a desired well- established neighborhood. Turnkey and ready to move in!

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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: Steeplechase

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $57k195k

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

Neighborhood: Steeplechase

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2800900100011001200130014001500Rent in $7651550

* 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
Jesse Keen Elementary School Primary Regular 644 47 2
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

Jesse Keen Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 47
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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$867
Property Tax -$292
Property Insurance -$109
HOA -$15
Property Management Fees -$80
CASH FLOW
$57

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.

$234,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.60%

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$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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$20,475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,420
$1,420
RENT COMPS ANALYSIS
  • 3121 Filly Ln Lakeland, FL
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.12
    •  
PROPERTY LISTING DETAILS
Randy Boone
1.813.754.3586
Coldwell Banker Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273268
Last Updated: 11/14/2020
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