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3713 Hileman Dr N Lakeland, FL 33810

3 Beds 2 Baths 1,938 sqft Built 1994

$260,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $134.16
  • 3 Days on Market
  • MLS # : L4920251
  • Updated Date : 01/15/2021 at 18:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,938 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Beautiful home nestled in a secluded and quiet family neighborhood. If you want the Florida dream home, your wishes have come true! Soak up the sun in your screen enclosed lanai overlooking your pool. Perfect spot for family barbecues. The kids can run around in the backyard while the rest of your family and friends enjoy floating in the pool. Inside the open floor plan and modern kitchen will please any prospective home buyer and impress all of your house guests.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Ridgemont

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $70k246k

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

Neighborhood: Ridgemont

NeighborhoodNIR Market*CityMarket2015Year20092019 Q29501000105011001150120012501300135014001450150015501600Rent in $9081601

* 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$903
Property Tax -$286
Property Insurance -$147
HOA -$7
Property Management Fees -$129
CASH FLOW
$18

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.

$260,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.57%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,395

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3953$1,4754$1,4905$1,495
$1,495
RENT COMPS ANALYSIS
  • 3713 Hileman Dr N Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.77
    •  
  • 3902 Laurel Branch Ct Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1992
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.68
    •  
  • 7713 Habersham Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2001
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.68
    •  
  • 7440 Loblolly Ave Lakeland, FL 3
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2002
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.73
    •  
  • 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
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
PROPERTY LISTING DETAILS
Gate Arty
1.863.680.9988
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920251
Last Updated: 01/15/2021
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