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4933 Luce Rd Lakeland, FL 33813

3 Beds 2 Baths 1,626 sqft Built 1972

$239,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $146.99
  • 3 Days on Market
  • MLS # : L4919096
  • Updated Date : 11/06/2020 at 13:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,626 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Welcome home!! You don't want to miss the chance to see this beautiful 3 bedroom 2 bathroom home! Walking in the door of this turn key property, you will find a large living room, a beautiful kitchen that features granite countertops and a huge dining room with enough space for all of your friends and family! This split plan home also features a large master bedroom with a huge walk in closet and two more oversized bedrooms. Walking through the sliding glass doors, you will be amazed at the large, fenced backyard and the screened in back porch which would be perfect for entertaining or relaxing. This home is located in South Lakeland and is close to restaurants, shopping, great schools and the Polk Parkway. Don't miss your chance to see this charming beauty, 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

Zip Code: 33813

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $70k251k

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

Zip Code: 33813

ZipNIR Market*CityMarket2015Year20092019 Q21000110012001300140015001600Rent in $9081668

* 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
Carlton Palmore Elementary School Primary Regular 528 36 4
Lakeland Highlands Middle School Middle Regular 1,217 66 6
Lakeland Senior High School High Regular 2,139 117 5

Carlton Palmore Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 36
4
GreatSchools Rating

Lakeland Highlands Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 66
6
GreatSchools Rating

Lakeland Senior High School

  • Education Level: High
  • # of students: 2,139
  • # of teachers: 117
5
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$882
Property Tax -$291
Property Insurance -$129
Property Management Fees -$80
CASH FLOW
-$72

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.

$239,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.73%
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

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$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,305

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3103$1,4504$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 4933 Luce Rd Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.81
    •  
  • 4619 Valley View Dr W Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1977
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
  • 2014 Charnes Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1974
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 1627 Rose Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 1972
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 4656 Valley View Dr E Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1975
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
PROPERTY LISTING DETAILS
Christy Byers
1.863.521.2757
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919096
Last Updated: 11/06/2020
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