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7219 Morning Dove Loop E Lakeland, FL 33809

3 Beds 3 Baths 2,550 sqft Built 1992

$349,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $137.22
  • 3 Days on Market
  • MLS # : P4913858
  • Updated Date : 01/15/2021 at 02:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,550 sqft
  • Baths : 2 full , 1 half
Listing Agent

I Think Realty, Llc

Listing Agent's Description

**DONT MISS THIS STUNNING 3BEDROOM, 2BATH HOME IN QUIET FOREST LAKE NEIGHBORHOOD IN NORTH LAKELAND SITTING ON MORE THAN 3/4 ACRES OF MATURE OAKS......When you pull into the driveway, you will know right away that this is a custom, one of a kind home. The vaulted 18-foot entry features several geometric windows and welcomes you into 2500 square feet of living space, showing right away that this is no cookie-cutter. The spacious living room and dining room are to the left and right of the entry. The Dining room flows into a gourmet island kitchen with custom cabinets, multiple built-ins, a breakfast bar, and high-end appliances, including a gas range, pantry, and a farm sink. The kitchen opens up to a breakfast nook and family room with a wood-burning fireplace, ready for making many wonderful memories entertaining your family and friends. The first-floor owner's suite has a large walk-in closet and well-appointed full bath with a custom walk-in shower, newer cabinets, sinks, and marble countertops. The second floor features a second full bath and two more bedrooms. One bedroom includes a built-in desk, while the other boasts an extra-large walk-in closet for storage. The second bath has been updated with newer fixtures and granite countertops. This home also has two bonus spaces - an upstairs loft and a home office downstairs off the family room that is pre-wired and ready. All updates have been done, including roof, AC, hot water heater, appliances, and new paint inside and out. The location is close to everything including Lakeland’s many lovely parks, shopping, schools, and state-of-the-art health care facilities. Only a short distance to Interstate 4 and Polk Parkway to Orlando and Tampa. TAKE THIS OPPORTUNITY TO MAKE THIS YOUR NEW HOME

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

Neighborhood: Forest Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $70k271k

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

Neighborhood: Forest Lake

NeighborhoodNIR Market*CityMarket2015Year20092019 Q21000110012001300140015001600Rent in $9081651

* 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
Wendell Watson Elementary School Primary Regular 741 47 5
Lake Gibson Middle School Middle Regular 1,130 68 4
Lake Gibson Senior High School High Regular 1,834 92 3

Wendell Watson Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 47
5
GreatSchools Rating

Lake Gibson Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 68
4
GreatSchools Rating

Lake Gibson Senior High School

  • Education Level: High
  • # of students: 1,834
  • # of teachers: 92
3
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,215
Property Tax -$385
Property Insurance -$182
Property Management Fees -$129
CASH FLOW
-$151

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.

$349,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.82%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,377

    COMP ESTIMATED VALUE
  • $0.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3003$1,4004$1,4005$1,760
$1,760
RENT COMPS ANALYSIS
  • 7219 Morning Dove Loop E Lakeland, FL 5
    • 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.69
    •  
  • 1541 Morning Dove Ct Lakeland, FL 1
    • 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 1987
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.47
    •  
  • 1540 Sir Henrys Trl Lakeland, FL 2
    • 4 beds 2 baths ∙ 2,476 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,476 Sqft ∙ Built 1990
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.53
    •  
  • 2104 Farrington Dr Lakeland, FL 3
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2005
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.58
    •  
  • 1547 Little Johns Trl Lakeland, FL 4
    • 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1989
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.58
    •  
PROPERTY LISTING DETAILS
H. Wayne Green
1.863.242.7860
I Think Realty, Llc
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: P4913858
Last Updated: 01/15/2021
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