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6315 Alamanda Hills Dr Lakeland, FL 33813

4 Beds 2 Baths 2,036 sqft Built 2005

$274,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $135.02
  • 3 Days on Market
  • MLS # : L4920903
  • Updated Date : 02/13/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,036 sqft
  • Baths : 2 full
Listing Agent

Lakeside Realty & Investment I

Listing Agent's Description

Meticulous, single-owner home with open floor plan, 3 bedrooms PLUS an office (or could be 4th bedroom). This home features engineered hardwood floors throughout the main living areas, ceramic tile in bathrooms and laundry, and carpet in bedrooms. The large master bedroom features a tray ceiling adjoining a spacious master bathroom with double vanities and two walk-in closets as well as a separate toilet closet, shower and large garden tub. The screened in porch leads to a paver patio and a fully landscaped, fenced-in backyard perfect for entertaining or relaxing by your own custom water feature

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: Alamanda

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $62k283k

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

Neighborhood: Alamanda

NeighborhoodNIR Market*CityMarket2015Year20092019 Q29501000105011001150120012501300135014001450150015501600Rent in $9081620

* 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
Spessard L. Holland Elementary School Primary Regular 855 52 5
Bartow Middle School Middle Regular 826 54 3
Bartow Senior High School High Regular 2,039 120 5

Spessard L. Holland Elementary School

  • Education Level: Primary
  • # of students: 855
  • # of teachers: 52
5
GreatSchools Rating

Bartow Middle School

  • Education Level: Middle
  • # of students: 826
  • # of teachers: 54
3
GreatSchools Rating

Bartow Senior High School

  • Education Level: High
  • # of students: 2,039
  • # of teachers: 120
5
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$955
Property Tax -$302
Property Insurance -$152
HOA -$17
Property Management Fees -$129
CASH FLOW
$65

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.

$274,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.59%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$20,628

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,614

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4353$1,6204$1,6505$1,850
$1,850
RENT COMPS ANALYSIS
  • 6315 Alamanda Hills Dr Lakeland, FL 3
    • 4 beds 2 baths ∙ 2,036 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,036 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.80
    •  
  • 3944 Sunnywood Cir Lakeland, FL 1
    • 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,883 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 3875 Horizon Hill Dr Lakeland, FL 2
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2003
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.82
    •  
  • 6358 Alamanda Hills Dr Lakeland, FL 4
    • 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 2006
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 4057 Byrds Crossing Dr Lakeland, FL 5
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 2006
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Steve Henderson
1.863.944.9902
Lakeside Realty & Investment I
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4920903
Last Updated: 02/13/2021
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