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5701 Stratford Ln Lakeland, FL 33813

4 Beds 2 Baths 2,505 sqft Built 1972

$350,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $139.72
  • 7 Days on Market
  • MLS # : L4919420
  • Updated Date : 11/24/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,505 sqft
  • Baths : 2 full
Listing Agent

S & D Real Estate Service Llc

Listing Agent's Description

RARE FIND…..some may call it a Unicorn!! Beautiful 4 bedroom POOL home with NO HOA in the heart of South Lakeland sitting on almost ½ acre lot!!!! Arriving at this home you will find a traditional Ranch Style home with the front and sides adorned with brick. Side Entry Garage with plenty of parking in the driveway. This is the perfect family home & spacious for entertaining! The Master Bedroom is enormous with a Master Bath that was updated in 2019 and also has a HUGE 12x10 Walk-in Closet that has a built-in floor safe!!! The house has tile throughout and carpet in the bedrooms. Beautiful Wood Burning fireplace centers the living room. All appliances are approx. 8 years old when the kitchen was updated. There is a large built-in desk in the kitchen/dining room area in the open & spacious kitchen. There is an oversized indoor laundry room directly off the kitchen leading out to the side garage. There is another sitting room/Den/Family Room behind the kitchen as you head out to your HUGE screen enclosed POOL deck that was resurfaced in 2019 and rescreened in 2020. Large solar heated pool. This space is great for entertaining all your family and friends!! This home has a large fenced in yard and a shed in back for extra storage or hobbies as it is split with an A/C unit on one side. Many recent updates include: 3 month old 5ton AC unit & handler, 4 yr old Roof, 6 yr old Hot Water Heater, 3 month old Pool Pump, 1 year Pool Filter, 1 year old Dranefield!!! This home has been meticulously loved & cared for and is ready for a new family!! This is a rare gem in South Lakeland and won’t last long!!! See the 3D Virtual Tour and then schedule your PRIVATE 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: Lakeland Highlands

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k277k

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

Neighborhood: Lakeland Highlands

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081595

* 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
Scott Lake Elementary School Primary Regular 771 52 5
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Scott Lake Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 52
5
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,291
Property Tax -$385
Property Insurance -$179
Property Management Fees -$80
CASH FLOW
$75

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.

$350,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 6.8%
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$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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,017

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,9953$2,0104$2,0155$2,100
$2,100
RENT COMPS ANALYSIS
  • 5701 Stratford Ln Lakeland, FL 3
    • 4 beds 2 baths ∙ 2,505 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,505 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.80
    •  
  • 4660 Sherwood Ln Lakeland, FL 1
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1968
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 2015 High Vista Dr Lakeland, FL 2
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1991
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
  • 244 Birch Ln Lakeland, FL 4
    • 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 1973
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.82
    •  
  • 5175 Terry Ln Lakeland, FL 5
    • 3 beds 4 baths ∙ 2,385 Sqft ∙ Built 1963 3 beds 4 baths ∙ 2,385 Sqft ∙ Built 1963
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alysia Cortes
1.863.812.5683
S & D Real Estate Service Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919420
Last Updated: 11/24/2020
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