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6135 Christina Dr W Lakeland, FL 33813

3 Beds 2 Baths 1,480 sqft Built 2009

$235,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $158.78
  • 3 Days on Market
  • MLS # : T3290130
  • Updated Date : 02/13/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Beautiful well maintained 3 bed 2 bath home in desirable south Lakeland location. The large fenced lot and spacious backyard for your pets or entertaining, there is even a fire pit to sit and relax by on those cool evenings. There is No HOA or CDD fee in this neighborhood. The living room features high vaulted ceilings and ceiling fans throughout the home. The split floorplan features a spacious kitchen with tile flooring complete with breakfast nook. The enclosed patio makes for nice place to sit and read or just relax the day away. This home is in a fantastic location, close to everything, priced to sell quickly and won't last long.

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: Christina Shores

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k236k

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

Neighborhood: Christina Shores

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400145015001550Rent in $9081590

* 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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$816
Property Tax -$258
Property Insurance -$121
Property Management Fees -$129
CASH FLOW
$236

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.

$235,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 6.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$36,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,336

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,4954$1,5605$1,645
$1,645
RENT COMPS ANALYSIS
  • 6135 Christina Dr W Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.05
    •  
  • 606 Mountain Lake Pl Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1995
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 692 Jessanda Cir Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1996
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 6860 Lake Eaglebrooke Dr Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 6850 Eagle Ridge Loop Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 2005
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.90
    •  
PROPERTY LISTING DETAILS
David Scoynes
1.863.398.5060
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: T3290130
Last Updated: 02/13/2021
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