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711 Ponderosa Dr W Lakeland, FL 33810

3 Beds 2 Baths 1,137 sqft Built 1980

$125,000

List Price

$1,000

$900 - $1.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $109.94
  • 3 Days on Market
  • MLS # : N6113410
  • Updated Date : 01/16/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,137 sqft
  • Baths : 2 full
Listing Agent

Realpro Inc

Listing Agent's Description

GREAT DEAL! BELOW MARKET VALUE! 3/2 CORPORATE OWNED HANDYMAN SPECIAL! PROPERTY SOLD 'AS IS'. GREAT RENTAL AREA OR FIXER UPPER HOME. LOTS OF POTENTIAL.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: The Pines

NeighborhoodNIR Market*CityMarket2010Year2000201950k60k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $46k185k

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

Neighborhood: The Pines

NeighborhoodNIR Market*CityMarket2015Year20092019 Q285090095010001050110011501200125013001350Rent in $8131380

* 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
R. Clem Churchwell Elementary School Primary Regular 627 39 6
Kathleen Middle School Middle Regular 764 42 4
Kathleen Senior High School High Regular 2,124 107 2

R. Clem Churchwell Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 39
6
GreatSchools Rating

Kathleen Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 42
4
GreatSchools Rating

Kathleen Senior High School

  • Education Level: High
  • # of students: 2,124
  • # of teachers: 107
2
GreatSchools Rating
 

$112,500$137,500$125,000

PURCHASE PRICE

$900$1,100$1,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,000
EXPENSES Loan Payment -$434
Property Tax -$179
Property Insurance -$101
Property Management Fees -$129
CASH FLOW
$157

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.

$125,000

PROJECTED PRICE

$1,000

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.75%
Appreciation Year (1-5) 6.5%
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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$38,875

INVESTMENT

$38,875

Down Payment
$31,250
Rehab Estimate
$5,750
Closing Costs
$1,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$434

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $31,250
Loan Amount $93,750
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$20,824

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,000

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $813

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$785
1$7852$8003$1,000
$1,000
RENT COMPS ANALYSIS
  • 711 Ponderosa Dr W Lakeland, FL 3
    • 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.88
    •  
  • 3512 Doreen Dr Lakeland, FL 1
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1963
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $785
    • $0.66
    •  
  • 3476 Justin David Ct Lakeland, FL 2
    • 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,045 Sqft ∙ Built 1993
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jimmyv Villarroel
1.754.581.8555
Realpro Inc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: N6113410
Last Updated: 01/16/2021
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