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3621 Barred Owl Rd Lakeland, FL 33811

4 Beds 3 Baths 2,063 sqft Built 2008

$292,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $141.98
  • 2 Days on Market
  • MLS # : O5903302
  • Updated Date : 11/03/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,063 sqft
  • Baths : 3 full
Listing Agent

Premium Properties R.e Service

Listing Agent's Description

Move right in to this beautifully maintained lake view home conveniently located close to I-4 and 540. Gorgeous newly remodeled kitchen with granite countertops and stainless appliances. Large owners suite with tray ceiling has fully remodeled bathroom. Many updates including brand new AC, new 20x20 tile floor, freshly painted interior and exterior, enclosed lanai with water views and access to beautiful fully fenced yard. This home also includes a fully paid for water softening system, termite prevention barrier, alarm, and washer and dryer. Close to “Sun-n-Fun”…Enjoy the show from your backyard! You will also be 30 min from Tampa Int. Airport, and Busch Gardens. This one won’t last long so schedule your showing today!

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: Towne Park Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k220k

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

Neighborhood: Towne Park Estates

NeighborhoodNIR Market*CityMarket2015Year20092019 Q29501000105011001150120012501300135014001450150015501600Rent in $9081615

* 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
R. Bruce Wagner Elementary School Primary Regular 817 58 4
Sleepy Hill Middle School Middle Regular 816 50 2
George W. Jenkins Senior High School High Regular 2,319 116 5

R. Bruce Wagner Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 58
4
GreatSchools Rating

Sleepy Hill Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 50
2
GreatSchools Rating

George W. Jenkins Senior High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 116
5
GreatSchools Rating
 

$263,610$322,190$292,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,081
Property Tax -$356
Property Insurance -$154
HOA -$21
Property Management Fees -$80
CASH FLOW
$128

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.

$292,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.62%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,369

INVESTMENT

$83,369

Down Payment
$73,225
Rehab Estimate
$5,750
Closing Costs
$4,394

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,081

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,225
Loan Amount $219,675
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$31,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5453$1,6454$1,6505$1,820
$1,820
RENT COMPS ANALYSIS
  • 3621 Barred Owl Rd Lakeland, FL 5
    • 4 beds 3 baths ∙ 2,063 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,063 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.88
    •  
  • 2547 Six Point Ct Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 2733 Deerbrook Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.86
    •  
  • 3909 Sandhill Crane Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2018
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.94
    •  
  • 3681 Sandhill Crane Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2007
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kimberley Stathakis
1.781.392.5615
Premium Properties R.e Service
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5903302
Last Updated: 11/03/2020
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