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532 Northride Trl Lakeland, FL 33813

3 Beds 2 Baths 1,395 sqft Built 1978

$199,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $143.30
  • 2 Days on Market
  • MLS # : L4920033
  • Updated Date : 01/03/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,395 sqft
  • Baths : 2 full
Listing Agent

Property Shoppe Of Central Fl

Listing Agent's Description

Great South Lakeland location! 3 beds 2 baths (renovated), open floorplan, on 1/4 acre fenced lot. Don't delay, schedule your showing TODAY!

SEE MORE

MARKET HIGHLIGHTS

  • #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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Harden Oak

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $70k185k

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

Neighborhood: Harden Oak

NeighborhoodNIR Market*CityMarket2015Year20092019 Q290095010001050110011501200125013001350Rent in $8921380

* 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
Southwest Elementary School Primary Regular 479 34 4
Southwest Middle School Middle Regular 852 52 2
George W. Jenkins Senior High School High Regular 2,319 116 5

Southwest Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 34
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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$738
Property Tax -$243
Property Insurance -$116
Property Management Fees -$129
CASH FLOW
$105

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.

$199,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$23,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $970

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9003$9004$9955$1,330
$1,330
RENT COMPS ANALYSIS
  • 532 Northride Trl Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.95
    •  
  • 230 Westover St Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1958
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.66
    •  
  • 1305 Bramblewood Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1989
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.78
    •  
  • 220 Orangeview Ln Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1960
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.71
    •  
  • 5222 Dorman Rd Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1973
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.63
    •  
PROPERTY LISTING DETAILS
Dawna Stone
1.863.398.7471
Property Shoppe Of Central Fl
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920033
Last Updated: 01/03/2021
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