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5697 Oakwood Knoll Dr Lakeland, FL 33811

4 Beds 3 Baths 2,848 sqft Built 2005

$314,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $110.57
  • 23 Days on Market
  • MLS # : T3273761
  • Updated Date : 11/17/2020 at 08:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,848 sqft
  • Baths : 2 full , 1 half
Listing Agent

Florida Realty

Listing Agent's Description

Are you looking for lots of Space in your new home? Take a tour of this beautiful 2 story property. Upon entering the foyer you are finding a coat closet plus a extra storage area under the stairs. Laundry room, with a washer and a dryer, is convenient located to your right. The kitchen features an island with a food prep sink, lots of counter space, 2 pantries, plus space for a eat-in area. Separate formal living room, formal dining room and family room are located on the ground floor. Upstairs you are going to find 4 (!) rather large bedrooms, with lots of closet space . The two windows in the spacious primary bedroom let plenty of light in. The ensuite has a garden tub to relax in, two walk-in closets plus a shower area. The loft area affords you even more space for different activities. The expansive, screened-in, covered patio located off the kitchen lets you enjoy the beautiful, fully fence-in back yard. This property is located on a corner lot.

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: Oakwood Knoll

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $63k225k

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

Neighborhood: Oakwood Knoll

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081577

* 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
Medulla Elementary School Primary Regular 635 40 3
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Medulla Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 40
3
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
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,162
Property Tax -$409
Property Insurance -$199
HOA -$23
Property Management Fees -$80
CASH FLOW
-$23

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.

$314,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.59%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,022

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8504$1,8955$1,995
$1,995
RENT COMPS ANALYSIS
  • 5697 Oakwood Knoll Dr Lakeland, FL 3
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.65
    •  
  • 5905 Coveview Dr W Lakeland, FL 1
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 4750 Highlands Place Cir Lakeland, FL 2
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.67
    •  
  • 6770 Lake Clark Dr Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,604 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,604 Sqft ∙ Built 2001
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.73
    •  
  • 1405 Royal Forest Loop Lakeland, FL 5
    • 3 beds 3 baths ∙ 2,653 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,653 Sqft ∙ Built 2000
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
PROPERTY LISTING DETAILS
Martina Miller
1.813.494.5207
Florida Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3273761
Last Updated: 11/17/2020
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