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PROPERTY INFO
FACTS
- Single Family
- Built In 1962
- Price/Sqft : $124.72
- 8 Days on Market
- MLS # : L4919409
- Updated Date : 11/24/2020 at 19:41
CONSTRUCTION
- Beds : 3
- Floor Size : 1,323 sqft
- Baths : 2 full
Listing Agent
Dory Rodriguez Joseph Re Llc
Listing Agent's Description
Charming 3-bedroom, 2-bathroom home located in North Lakeland. This home has been recently renovated with a new roof, freshly painted exterior, and has newly installed security cameras. The large open porch at the front of the house is a wonderful space for sitting out with a good book, getting fresh air while sipping a cup of coffee, or enjoying pleasant conversation with a friend. Entering the home, you find the dining room, the kitchen off to the right, and a cozy den towards the back. The master bedroom is complete with a spacious walk-in closet and an attached bathroom that is completed with beautiful design work and a large walk-in shower. It is located on the right side of the home, opposite to the other two bedrooms, which allows for some privacy and quietness. The indoor laundry area is situated conveniently in the hallway leading towards the back door. Backyard is fenced in and has plenty of space for outdoor activities or get togethers. As a bonus, there is also a sizeable shed which can be perfect for storage, turned into an outdoor “man-cave/she-shed”, workshop, or even be used as a workout area. This delightful house is waiting to become someone’s dream home. Do not miss the chance to make it yours!
SEE MORE
- #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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Winston Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Winston Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,070 |
| EXPENSES | Loan Payment | -$609 |
| Property Tax | -$214 | |
| Property Insurance | -$112 | |
| Property Management Fees | -$80 | |
|
CASH FLOW
$55
|
||
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.
$165,000
PROJECTED PRICE
$1,070
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$49,475
LOAN DETAILS
$609
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $41,250 |
| Loan Amount | $123,750 |
6.67
YEARS SAVED
$15,422
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,070
LIST RENT -
$0.81
LIST RENT PER SQFT
-
$1,072
COMP ESTIMATED VALUE -
$0.81
COMP AVG. RENT PER SQFT
Comps Range
-
3525 Doreen Dr Lakeland, FL 2
- 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,323 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $1,070
- $0.81
-
3512 Doreen Dr Lakeland, FL 1
- 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963
LEASED 02/12/20- Rent
- Rent Per SQFT
- $785
- $0.66
-
1114 Apollo Ct Lakeland, FL 3
- 3 beds 1 baths ∙ 1,148 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,148 Sqft ∙ Built 1979
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,107
- $0.96
PROPERTY LISTING DETAILS
1.863.602.7059
Dory Rodriguez Joseph Re Llc
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: L4919409
Last Updated: 11/24/2020
