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5314 Lisa Ave Lakeland, FL 33813

3 Beds 2 Baths 1,764 sqft Built 1972

$267,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $151.87
  • 2 Days on Market
  • MLS # : W7828636
  • Updated Date : 11/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,764 sqft
  • Baths : 2 full
Listing Agent

54 Realty Llc

Listing Agent's Description

Wonderful 3 bedroom, 2 bathroom, pool home in Lakeland. Upon arriving at this home, you are welcomed into a foyer that immediately leads to a large living room on the left. The living room features tiled floors, large picture window for natural light, and flows into the formal dining room with access to the back lanai. From the dining room, you have a spacious kitchen with bright cabinets, stainless steel double oven, and ample counter space. Overlooking the kitchen, there is a cozy family room with access to the lanai. The primary bedroom in this home boasts a large walk-in closet with an en suite bathroom with a shower/tub combo. The home is complete with 2 additional bedrooms, full bathroom, and a laundry room. Outside, you can enjoy the Florida weather in the large screened lanai with brick pavers and private pool. Located in Lakeland, this home is convenient to Highway 98 and the Polk Parkway making for an easy commute to Orlando, downtown Lakeland and surrounding areas.

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: Sandra Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $70k254k

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

Neighborhood: Sandra Heights

NeighborhoodNIR Market*CityMarket2015Year20092019 Q21000110012001300140015001600Rent in $9081646

* 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
Highlands Grove Elementary School Primary Regular 731 44 8
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Highlands Grove Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 44
8
GreatSchools Rating

Lakeland Highlands Middle School

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

George W. Jenkins Senior High School

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

$241,110$294,690$267,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$988
Property Tax -$295
Property Insurance -$137
Property Management Fees -$80
CASH FLOW
$40

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.

$267,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.57%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$76,744

INVESTMENT

$76,744

Down Payment
$66,975
Rehab Estimate
$5,750
Closing Costs
$4,019

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$988

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,975
Loan Amount $200,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$21,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,363

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,4503$1,4954$1,5405$1,595
$1,595
RENT COMPS ANALYSIS
  • 5314 Lisa Ave Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.87
    •  
  • 5104 Sheffield Rd Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1979
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.69
    •  
  • 2014 Charnes Dr Lakeland, FL 2
    • 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 3
    • 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
Joe Locicero
1.813.435.5411
54 Realty Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: W7828636
Last Updated: 11/22/2020
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