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6518 Shepherd Oaks Rd Lakeland, FL 33811

3 Beds 2 Baths 1,555 sqft Built 2002

$234,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $150.48
  • 4 Days on Market
  • MLS # : L4919722
  • Updated Date : 12/10/2020 at 15:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,555 sqft
  • Baths : 2 full
Listing Agent

Millshire Realty

Listing Agent's Description

Don’t miss out on this beautiful South Lakeland home in the desirable Shepherd Oaks neighborhood. Upon entering, you will experience an open and airy floor plan with vaulted ceilings and plenty of space for entertaining. The kitchen offers an abundance of counter space, a cozy window seat, a closet pantry and additional seating at the breakfast bar. Boasting of over 1550sq/ft, this home’s split floor plan of 3 bedrooms and 2 bathrooms is an ideal layout for both comfort and privacy. Finally, enjoy this RARE opportunity for a private and spacious backyard lot with no rear neighbors. This is ideal for enjoying different outside activities and Florida’s gorgeous weather. You won’t want to miss this opportunity. Schedule your showing today.

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: Shepherd Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $54k186k

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

Neighborhood: Shepherd Oaks

NeighborhoodNIR Market*CityMarket2015Year20092019 Q2950100010501100115012001250130013501400Rent in $9081435

* 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
James W. Sikes Elementary School Primary Regular 873 58 5
Mulberry Middle School Middle Regular 1,035 57 4
Mulberry Senior High School High Regular 1,056 58 4

James W. Sikes Elementary School

  • Education Level: Primary
  • # of students: 873
  • # of teachers: 58
5
GreatSchools Rating

Mulberry Middle School

  • Education Level: Middle
  • # of students: 1,035
  • # of teachers: 57
4
GreatSchools Rating

Mulberry Senior High School

  • Education Level: High
  • # of students: 1,056
  • # of teachers: 58
4
GreatSchools Rating
 

$210,600$257,400$234,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$863
Property Tax -$257
Property Insurance -$125
HOA -$26
Property Management Fees -$129
CASH FLOW
$20

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.

$234,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 3.80%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,760

INVESTMENT

$67,760

Down Payment
$58,500
Rehab Estimate
$5,750
Closing Costs
$3,510

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,500
Loan Amount $175,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,143

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0003$1,1504$1,2755$1,420
$1,420
RENT COMPS ANALYSIS
  • 6518 Shepherd Oaks Rd Lakeland, FL 5
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.91
    •  
  • 6853 Appaloosa Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1998
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.69
    •  
  • 6614 Shepherd Oaks Pass Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1999
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.67
    •  
  • 6836 Shepherd Oaks Rd Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2002
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.75
    •  
  • 6619 Shepherd Oaks St Lakeland, FL 4
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1999
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.83
    •  
PROPERTY LISTING DETAILS
Theresa Broton
1.863.409.0599
Millshire Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: L4919722
Last Updated: 12/10/2020
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