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6875 Highlands Creek Rd Lakeland, FL 33813

5 Beds 4 Baths 2,954 sqft Built 2016

$355,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $120.18
  • 3 Days on Market
  • MLS # : O5904390
  • Updated Date : 11/07/2020 at 09:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,954 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Legacy Realty

Listing Agent's Description

if you are looking for a great and spacious curb appeal home in a corner lot this is the perfect home for you! Beautifully maintained home, master bedroom has access to lanai, comfortable garage with lots of space. This home features an open layout to entertain, being able to see the family room from the kitchen area. the patio area is comfortable and the back lanai is great to read a book or have a coffee. This home features many upgrades like tiled shower and tub area, granite countertops, cabinets and sink in laundry! rounded corners in walls, Stainless steel appliances and backsplash in the kitchen, covered lanai and a second floor loft to relax, work or watch a movie! Lets make this house yours today!

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

Zip Code: 33813

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $70k251k

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

Zip Code: 33813

ZipNIR Market*CityMarket2015Year20092019 Q21000110012001300140015001600Rent in $9081668

* 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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,310
Property Tax -$390
Property Insurance -$205
HOA -$33
Property Management Fees -$80
CASH FLOW
$62

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.

$355,000

PROJECTED PRICE

$2,080

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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$29,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,245

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,0804$2,2955$2,500
$2,500
RENT COMPS ANALYSIS
  • 6875 Highlands Creek Rd Lakeland, FL 3
    • 5 beds 3 baths ∙ 2,954 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,954 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.70
    •  
  • 5766 High Ridge Loop Lakeland, FL 1
    • 4 beds 2 baths ∙ 2,701 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,701 Sqft ∙ Built 2002
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 6535 Navajo Lakeland, FL 2
    • 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2004
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 2551 Crews Lake Hills Loop S Lakeland, FL 4
    • 5 beds 3 baths ∙ 2,942 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,942 Sqft ∙ Built 1999
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.78
    •  
  • 2828 Vintage View Loop Lakeland, FL 5
    • 4 beds 4 baths ∙ 3,133 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,133 Sqft ∙ Built 2007
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Xiomary Figueroa
1.407.965.3900
Keller Williams Legacy Realty
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5904390
Last Updated: 11/07/2020
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