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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $166.67
- 5 Days on Market
- MLS # : L4919945
- Updated Date : 12/24/2020 at 01:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,350 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty Smart
Listing Agent's Description
Check out this gorgeous home nestled in a quiet south Lakeland community. The yard is complete with beautiful trees providing plenty of shade. The oversized kitchen includes a sitting area that opens up to your dinning room giving you ample room to entertain family and friends. This home is located just a short drive from grocery stores and great restaurants!
SEE MORE
- 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: Lakeland Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lakeland Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,260 |
| EXPENSES | Loan Payment | -$830 |
| Property Tax | -$247 | |
| Property Insurance | -$113 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$60
|
||
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.
$225,000
PROJECTED PRICE
$1,260
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.82% |
| Appreciation Year (1-5) | 6.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 3.73% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,375
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
4.33
YEARS SAVED
$10,670
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,260
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$891
COMP ESTIMATED VALUE -
$0.66
COMP AVG. RENT PER SQFT
Comps Range
-
7023 Davin St Lakeland, FL 2
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $1,260
- $0.93
-
6002 Christina Dr E Lakeland, FL 1
- 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1975
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,100
- $0.66
PROPERTY LISTING DETAILS
1.813.476.8457
Keller Williams Realty Smart
1.866.250.5610
RentVest Florida
CQ1057457
MLS #: L4919945
Last Updated: 12/24/2020
