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5916 Great Salt Ct Lakeland, FL 33805

4 Beds 3 Baths 2,560 sqft Built 2017

INVESTimate

$299,999

List Price

$1,880

$1,692 - $2,068

Rent Est.

$317,729  ( +5.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $117.19
  • 32 Days on Market
  • MLS # : T3255801
  • Updated Date : 08/20/2020 at 16:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,560 sqft
  • Baths : 3 full
Listing Agent

Century 21 Affiliated Ii

Listing Agent's Description

BIG PRICE IMPROVEMENT! Why wait to build when you can move right into this almost new beautiful home! Enjoy 4 bedrooms plus den, 3 baths, plus loft, 3 car garage with a OASIS fenced in back yard. This William Ryan, Saratoga model is just beautiful. This home has great charm as you walk up to the front porch. Enter the open kitchen with granite counters and walk in pantry. Very open plan with dining area right off kitchen, and a HUGE great room to fit a large sectional sofa and much more. One bedroom and full bath downstairs. Walk upstairs to the open loft. Master bedroom is roomy and has double vanity and large shower. Walk in closets have nice built in California style closets. Then the outside oasis for relaxing. The oversized patio off the sliders has pavers and beautiful landscaping with waterfall feature. HOA includes cable, internet, community pool, tennis, playground. Come view this beauty!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Tampa's economy is worth over $156 billion in Gross Metro Product and projected to grow to $165 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Villages at Bridgewater

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $70k251k

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

Neighborhood: Villages at Bridgewater

NeighborhoodNIR Market*CityMarket2015Year20092019 Q210001100120013001400150016001700Rent in $9081702

* 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
Wendell Watson Elementary School Primary Regular 741 47 5
Lake Gibson Middle School Middle Regular 1,130 68 4
Tenoroc High School High Regular 1,170 72 2

Wendell Watson Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 47
5
GreatSchools Rating

Lake Gibson Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 68
4
GreatSchools Rating

Tenoroc High School

  • Education Level: High
  • # of students: 1,170
  • # of teachers: 72
2
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,107
Property Tax -$365
Property Insurance -$182
HOA -$138
Property Management Fees -$80
CASH FLOW
$8

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.

$299,999

PROJECTED PRICE

$1,880

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 5.91%
Maintenance Year (1-5) 8.00%
Vacancy 3.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$17,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,907

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8803$1,9254$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 5916 Great Salt Ct Lakeland, 2
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.73
    •  
  • 1411 Banbury Loop N Lakeland, 1
    • 5 beds 3 baths ∙ 2,738 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,738 Sqft ∙ Built 1999
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.68
    •  
  • 2418 Winnipeg Dr Lakeland, 3
    • 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 2008
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.71
    •  
  • 2251 Geneva Dr Lakeland, 4
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2007
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 2540 Ladoga Dr Lakeland, 5
    • 5 beds 3 baths ∙ 2,412 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,412 Sqft ∙ Built 2007
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sabrina Westenbarger
1.813.758.7717
Century 21 Affiliated Ii
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3255801
Last Updated: 08/20/2020
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