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5128 Woodgreen Ln Lakeland, FL 33811

3 Beds 2 Baths 1,571 sqft Built 1978

$234,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $149.52
  • 4 Days on Market
  • MLS # : L4920445
  • Updated Date : 01/23/2021 at 20:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,571 sqft
  • Baths : 2 full
Listing Agent

Xcellence Realty, Inc

Listing Agent's Description

Absolutely Immaculate! This Spacious 3/2 on a Large Corner Lot has everything you could want, No HOA, and it is Move-in-Ready! Large Living room with Vaulted Ceilings, separate Dining Room, updated Kitchen with Granite Counter Tops and Stainless Steel Appliances, fresh paint, updated baths, Large Two Car Garage with Newly replaced garage doors and openers. Extra pantry space in the Garage, Large Master Bedroom with Walk in Closet and Bonus Room that could be used for a 4th Bedroom or extra Family room.

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: 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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$816
Property Tax -$258
Property Insurance -$126
Property Management Fees -$129
CASH FLOW
-$9

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.

$234,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.56%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$12,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,324

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3203$1,3504$1,3505$1,475
$1,475
RENT COMPS ANALYSIS
  • 5128 Woodgreen Ln Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.84
    •  
  • 3805 Old Salem Rd Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1969
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.83
    •  
  • 5123 Bonnybrook Dr W Lakeland, FL 3
    • 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 4
    • 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
    •  
  • 1237 Cherry Ln Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1961
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.83
    •  
PROPERTY LISTING DETAILS
Velvet Green
1.863.640.2006
Xcellence Realty, Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920445
Last Updated: 01/23/2021
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