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5583 Bloomfield Blvd Lakeland, FL 33810

4 Beds 2 Baths 2,233 sqft Built 1996

$359,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $160.77
  • 2 Days on Market
  • MLS # : T3288689
  • Updated Date : 02/06/2021 at 20:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,233 sqft
  • Baths : 2 full
Listing Agent

Ez Choice Realty

Listing Agent's Description

Gorgeous custom ERNIE WHITE home is sure to impress with an OPEN AND SPLIT floor plan and an amazing SWIMMING POOL & HOT TUB! This stunning home boasts 4 bedrooms and 2 bathrooms, high vaulted ceilings, lots of windows and plenty of views of the pool. Large and inviting family room, perfect for entertaining. Split floor plan has Master Bed on one side and 3 other bedrooms on the opposite side. Large master bedroom offers plenty of room, perfect for that king size bed, and has a great view of the pool. Master bed has HIS and HER closets. Master bath has dual sinks, separate walk-in shower, and garden tub! NEW ROOF put on in 2012, A/C is 2010 and is a energy efficient 4 ton 15-SEER, Pool Pump new in 2017, Pool remarsited in 2016, new solar panels added in 2014, and appliances new in 2014!!! The POOL is SOLAR HEATED. Come see this MOVE IN READY HOME and imagine yourself laying by the pool, drink in hand, relaxing in the FLORIDA sun! HOT TUB INCLUDED WITH STRONG OFFER!

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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

Neighborhood: Bloomfield Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300kPrice in $57k311k

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

Neighborhood: Bloomfield Hills

NeighborhoodNIR Market*CityMarket2015Year20092019 Q280090010001100120013001400150016001700180019002000Rent in $7652010

* 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
Sleepy Hill Elementary School Primary Regular 675 45 4
Sleepy Hill Middle School Middle Regular 816 50 2
Kathleen Senior High School High Regular 2,124 107 2

Sleepy Hill Elementary School

  • Education Level: Primary
  • # of students: 675
  • # of teachers: 45
4
GreatSchools Rating

Sleepy Hill Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 50
2
GreatSchools Rating

Kathleen Senior High School

  • Education Level: High
  • # of students: 2,124
  • # of teachers: 107
2
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,247
Property Tax -$395
Property Insurance -$164
HOA -$29
Property Management Fees -$129
CASH FLOW
$36

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.

$359,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 5.8%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,177

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,725

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6954$1,6955$2,000
$2,000
RENT COMPS ANALYSIS
  • 5583 Bloomfield Blvd Lakeland, FL 5
    • 4 beds 2 baths ∙ 2,233 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,233 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 7170 Montreal Dr Lakeland, FL 1
    • 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 1995
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 6526 Bendelow Dr Lakeland, FL 2
    • 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2004
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 1966 Altavista Cir Lakeland, FL 3
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2008
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 2014 Altavista Cir Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2014
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Monya Keown
1.407.497.1002
Ez Choice Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3288689
Last Updated: 02/06/2021
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