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3509 Remington Oaks Way Lakeland, FL 33810

3 Beds 2 Baths 1,719 sqft Built 2001

$230,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $133.80
  • 4 Days on Market
  • MLS # : L4920280
  • Updated Date : 01/14/2021 at 09:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,719 sqft
  • Baths : 2 full
Listing Agent

Bhhs Florida Properties Grp

Listing Agent's Description

NORTH LAKELAND - This 3 bedroom 2 bath is located in a well maintained subdivision of Remington Oaks. The home features an open floor plan with split bedrooms. There is a formal dining room as well as an eat in kitchen. Master bath features garden tub and stand up shower. Large walk in closet and separate toilet area. The home has a New Roof in 2020 and also a New A/C.

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

Neighborhood: Remington Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k232k

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

Neighborhood: Remington Oaks

NeighborhoodNIR Market*CityMarket2015Year20092019 Q295010001050110011501200125013001350140014501500Rent in $9081515

* 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
Kathleen Elementary School Primary Regular 555 32 3
Kathleen Middle School Middle Regular 764 42 4
Kathleen Senior High School High Regular 2,124 107 2

Kathleen Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 32
3
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$799
Property Tax -$253
Property Insurance -$134
HOA -$14
Property Management Fees -$129
CASH FLOW
$71

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.

$230,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.61%

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$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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$18,341

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,186

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0903$1,2954$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 3509 Remington Oaks Way Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 7136 Scenic Pl Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.61
    •  
  • 6910 Scenic Hills Blvd Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.68
    •  
  • 3902 Laurel Branch Ct Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1992
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.68
    •  
  • 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
Reta Andress
1.863.255.1568
Bhhs Florida Properties Grp
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920280
Last Updated: 01/14/2021
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