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3211 Carleton Cir W Lakeland, FL 33803

3 Beds 2 Baths 1,434 sqft Built 1963

INVESTimate

$184,900

List Price

$1,170

$1,053 - $1,287

Rent Est.

$203,150  ( +9.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $128.94
  • 6 Days on Market
  • MLS # : A4476025
  • Updated Date : 08/25/2020 at 15:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 1 full , 1 half
Listing Agent

Xcellence Realty

Listing Agent's Description

Location, Location, Location! This 3/1.5 Concrete block home is located in a lovely neighborhood. Home features wood burning fireplace in living room, French doors leading to cozy Florida room. Over-sized inside utility room with door leading outside large enough to accommodate a riding lawn mower. Single car carport with double concrete driveway. Fresh Paint and new engineered hardwood floors in the main living areas. Brand new (2020) air conditioning unit (both inside and outside) with Nest thermostat. Fully fenced back yard with shed. Close to bus line, shopping and Polk Parkway. Price Reduced 10,000 to allow for new carpet and counter-tops!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cleveland Heights

NeighborhoodNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $62k185k

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

Neighborhood: Cleveland Heights

NeighborhoodNIR Market*CityMarket2015Year20092019 Q285090095010001050110011501200125013001350Rent in $8281380

* 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
Carlton Palmore Elementary School Primary Regular 528 36 4
Southwest Middle School Middle Regular 852 52 2
Lakeland Senior High School High Regular 2,139 117 5

Carlton Palmore Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 36
4
GreatSchools Rating

Southwest Middle School

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

Lakeland Senior High School

  • Education Level: High
  • # of students: 2,139
  • # of teachers: 117
5
GreatSchools Rating
 

$166,410$203,390$184,900

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$682
Property Tax -$237
Property Insurance -$118
Property Management Fees -$80
CASH FLOW
$53

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.

$184,900

PROJECTED PRICE

$1,170

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 9.87%
Maintenance Year (1-5) 8.00%
Vacancy 3.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,749

INVESTMENT

$54,749

Down Payment
$46,225
Rehab Estimate
$5,750
Closing Costs
$2,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$682

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,225
Loan Amount $138,675
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$16,509

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,176

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$1,1703$1,2504$1,2955$1,375
$1,375
RENT COMPS ANALYSIS
  • 3211 Carleton Cir W Lakeland, 2
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.82
    •  
  • 220 Orangeview Ln Lakeland, 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1960
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.71
    •  
  • 3226 Independence St Lakeland, 3
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1958
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.83
    •  
  • 315 Allamanda Dr Lakeland, 4
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 1960
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.79
    •  
  • 817 Eddy St Lakeland, 5
    • 3 beds 1 baths ∙ 1,450 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,450 Sqft ∙ Built 1952
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
PROPERTY LISTING DETAILS
Carole Wilson
1.863.669.8864
Xcellence Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: A4476025
Last Updated: 08/25/2020
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