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5118 Willowbrook Ln Lakeland, FL 33811

3 Beds 2 Baths 1,779 sqft Built 1979

$239,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $134.85
  • 2 Days on Market
  • MLS # : L4921154
  • Updated Date : 02/28/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,779 sqft
  • Baths : 2 full
Listing Agent

Xcellence Realty, Inc

Listing Agent's Description

No HOA!!!! This Spacious 3/2 on a Large Lot with a brand new vinyl fence. The home is move-in ready with a new roof, new hot water heater , remodeled bathrooms and an A/C that is only 5 years old. The home has beautiful wood floors and tile in all the main living areas. You will enjoy the large back porch with it's insulated ceiling to keep you cool in the hot Florida summers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Forestgreen

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $70k185k

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

Neighborhood: Forestgreen

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400Rent in $9081406

* 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
Southwest Middle School Middle Regular 852 52 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

Southwest Middle School

  • Education Level: Middle
  • # of students: 852
  • # of teachers: 52
2
GreatSchools Rating

George W. Jenkins Senior High School

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

$215,910$263,890$239,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$833
Property Tax -$264
Property Insurance -$138
Property Management Fees -$129
CASH FLOW
$136

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.

$239,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

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

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$25,337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,5004$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 5118 Willowbrook Ln Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,779 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 5123 Bonnybrook Dr W Lakeland, FL 1
    • 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,577 Sqft ∙ Built 1984
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 2868 Northbrook Ln Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1977
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 2326 Deerbrook Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 2139 Parker Rd Lakeland, FL 5
    • 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1985
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
PROPERTY LISTING DETAILS
Stephen Hubbell
1.863.559.5666
Xcellence Realty, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4921154
Last Updated: 02/28/2021
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