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3243 Grand Pines Dr Lakeland, FL 33810

3 Beds 2 Baths 1,272 sqft Built 2002

$215,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $169.03
  • 3 Days on Market
  • MLS # : O5909833
  • Updated Date : 12/05/2020 at 17:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

Call It Closed International Realty

Listing Agent's Description

This home is well maintained and in the desirable well established quiet neighborhood of Grand Pines in North Lakeland!!!! Enjoy the hot summers of play as you take a refreshing dip in the community swimming POOL, with a SEPARATE KIDDIE POOL AND PLAYGROUND!!!!. As you enter your well maintained turnkey 3/2 home you will see that this home boasts a family room/dining room combo and an open kitchen, great for entertaining with lots of light flooding into your home, PRE-INSTALLED SURROUND SOUND adorn the cathedral ceiling, NEW WOOD laminate in the main areas and bathrooms. The dining room chandelier is exquisite with lovely french doors leading to the back patio french doors looking into the spacious backyard. There's a large open grass area in the back that can be a great play area. The kitchen has a huge eating bar space with seating on the family/dining room side, a NEW microwave, lots of cabinets, a pantry, and above the cabinets you have room for your decorative dishes and plants. There’s lots of light for your plants to thrive in this home. There is no wasted space in this house!! It is a split floor plan. The master bedroom is large and off the dining room. The spacious master has a great walk-in closet. The other two bedrooms and bathroom are off the family room. All bedrooms have NEW Carpets . This home has been FRESHLY PAINTED. New ROOF November 2020. LOW HOA. Year pest control WARRANTY . Your home is located just off of West Campbell Rd with easy access to the Lakeland Mall, many food choices and even a brand new Publix nearby! This home is centrally located minutes away from I-4 with easy access to travel to shopping, I4, why 98N, and within 2minutes drive to local city park - Duff Field. Drivetime to DISNEY AND TAMPA is only 45 minutes! Schedule your private showing today! USDA APPROVED!! NOT SHOWING - Sunday December 6th.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grand Pines

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $56k185k

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

Neighborhood: Grand Pines

NeighborhoodNIR Market*CityMarket2015Year20092019 Q290095010001050110011501200125013001350Rent in $8901380

* 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
Dr. N.e. Roberts Elementary School Primary Regular 661 47 6
Kathleen Middle School Middle Regular 764 42 4
Kathleen Senior High School High Regular 2,124 107 2

Dr. N.e. Roberts Elementary School

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 47
6
GreatSchools Rating

Kathleen Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 42
4
GreatSchools Rating

Kathleen Senior High School

  • Education Level: High
  • # of students: 2,124
  • # of teachers: 107
2
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$793
Property Tax -$236
Property Insurance -$109
HOA -$22
Property Management Fees -$129
CASH FLOW
$11

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.

$215,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.5%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$15,381

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,056

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2003$1,2654$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 3243 Grand Pines Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.02
    •  
  • 7949 Indian Heights Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1990
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.77
    •  
  • 8026 Magnolia Ridge Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1990
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.90
    •  
  • 3640 Willow Wisp Dr S Lakeland, FL 3
    • 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1983
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.80
    •  
  • 2934 W Campbell Rd Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1987
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
PROPERTY LISTING DETAILS
Amy Phillips
1.407.792.8212
Call It Closed International Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5909833
Last Updated: 12/05/2020
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