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6210 Elm Sq E Lakeland, FL 33813

4 Beds 2 Baths 1,953 sqft Built 1974

$239,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $122.38
  • 5 Days on Market
  • MLS # : L4920479
  • Updated Date : 02/04/2021 at 08:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,953 sqft
  • Baths : 2 full
Listing Agent

Remax Experts

Listing Agent's Description

This is your chance to move into beautiful Christina Woods in SE Lakeland, large 4 Bedroom home on almost a 1/2 acre lot. BRAND NEW ROOF with architectural shingles just installed (Jan 2021). A/C and Hot water heater are approximately 7 years old. Large rooms, split plan, and an enormous screened patio overlooking a big, private back yard. Plenty of room to add a pool (and the hall bathroom already has a door opening to the patio for a pool bath.) Kitchen has a pass-thru window to the patio, built-in oven, cooktop and refrigerator. Dining room has sliders that open to the patio as does the Family Room. HOA is optional in this community and allows a boat or RV to be parked in the back yard if not visible from the street. Oversized 2-car side-entry garage and a very long driveway allowing for ample parking. The washer & dryer are included. Do your own updating--and make this home reflect your personality (all the other big things have been done)--and you just don't find bedrooms this large in any new construction! Excellent school districts and convenient access to all major highways, shopping, and medical centers. Closing date subject to completion of Probate estimated to be within 30-60 days.

SEE MORE

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: Christina Woods

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k278k

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

Neighborhood: Christina Woods

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2100011001200130014001500160017001800190020002100Rent in $9082174

* 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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$830
Property Tax -$266
Property Insurance -$148
HOA -$17
Property Management Fees -$129
CASH FLOW
$71

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.

$239,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 4.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$19,032

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,421

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4604$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 6210 Elm Sq E Lakeland, FL 3
    • 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.75
    •  
  • 312 Forest Glen Ave Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1974
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
  • 409 Oak Trl Lakeland, FL 2
    • 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,032 Sqft ∙ Built 1973
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.66
    •  
  • 710 Orange Valley Cir Lakeland, FL 4
    • 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 1974
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 134 Elm Sq S Lakeland, FL 5
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 1974
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Linda Zedonek
1.863.529.7898
Remax Experts
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920479
Last Updated: 02/04/2021
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