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6241 Christina Groves Cir E Lakeland, FL 33813

3 Beds 2 Baths 1,573 sqft Built 1980

$240,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $152.57
  • 3 Days on Market
  • MLS # : L4920863
  • Updated Date : 02/13/2021 at 15:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,573 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Smart

Listing Agent's Description

Charming 3 Bedroom, 2 Bathroom Home Located in the Sought After Christina Groves Community. **NO HOA**  The kitchen features stainless steel appliances, shaker cabinets, breakfast nook, and has a window view of the enclosed lanai overlooking a huge backyard.  From the kitchen, step into a large living room complete with a wood burning brick fireplace and vaulted ceiling. This home features a formal dining space, wood flooring in the main living spaces and bedrooms, tile in the kitchen and bathrooms, ample closet space throughout the home and spacious bedrooms. Previous updates include: double pane windows, Roof Replaced 2018, New Drain Field 2019. This home is situated on just over a quarter acre lot with a huge fenced backyard. Christina Groves is located in South Lakeland and puts you close to shopping, schools, parks, restaurants, major roadways, and everything South Lakeland has to offer.

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 Groves

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k236k

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

Neighborhood: Christina Groves

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
Valleyview Elementary School Primary Regular 726 45 8
Lakeland Highlands Middle School Middle Regular 1,217 66 6
George W. Jenkins Senior High School High Regular 2,319 116 5

Valleyview Elementary School

  • Education Level: Primary
  • # of students: 726
  • # of teachers: 45
8
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$834
Property Tax -$264
Property Insurance -$126
Property Management Fees -$129
CASH FLOW
$78

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.

$240,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.60%

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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$20,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,447

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,4304$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 6241 Christina Groves Cir E Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.91
    •  
  • 6531 Jenna Lee Ct Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1996
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.96
    •  
  • 3643 Dale St Lakeland, FL 2
    • 4 beds 2 baths ∙ 1,528 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,528 Sqft ∙ Built 1988
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 4017 Lana Dr Lakeland, FL 4
    • 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 1975
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 3982 Lime Tree Ln Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 1997
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ben Becton
1.863.617.0232
Keller Williams Realty Smart
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920863
Last Updated: 02/13/2021
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